BW Gestao de Investimentos Ltda. Purchases New Holdings in Comstock Resources, Inc. $CRK

BW Gestao de Investimentos Ltda. acquired a new position in Comstock Resources, Inc. (NYSE:CRK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 57,682 shares of the oil and gas producer’s stock, valued at approximately $1,144,000.

Several other large investors also recently bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new position in shares of Comstock Resources in the second quarter valued at approximately $34,000. Jones Financial Companies Lllp increased its position in shares of Comstock Resources by 671.2% during the third quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 1,376 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Comstock Resources during the third quarter worth approximately $44,000. EverSource Wealth Advisors LLC raised its stake in Comstock Resources by 1,190.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,825 shares of the oil and gas producer’s stock valued at $78,000 after purchasing an additional 2,606 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Comstock Resources by 39.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,085 shares of the oil and gas producer’s stock valued at $62,000 after purchasing an additional 868 shares during the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Comstock Resources

In other news, VP Patrick Mcgough sold 48,915 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the completion of the transaction, the vice president directly owned 187,516 shares in the company, valued at approximately $3,975,339.20. This represents a 20.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Comstock Resources Stock Down 6.2%

Shares of NYSE CRK opened at $20.05 on Tuesday. The company has a 50 day simple moving average of $21.38 and a 200-day simple moving average of $20.81. The company has a market capitalization of $5.90 billion, a P/E ratio of 14.22 and a beta of 0.40. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.49 and a quick ratio of 0.49. Comstock Resources, Inc. has a 1 year low of $14.65 and a 1 year high of $31.17.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The company had revenue of $787.32 million during the quarter, compared to analyst estimates of $504.66 million. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 115.5% compared to the same quarter last year. On average, equities research analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their target price on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 18th. Morgan Stanley set a $19.00 target price on shares of Comstock Resources in a research report on Friday, February 13th. Mizuho raised their price target on shares of Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday, December 29th. Finally, UBS Group set a $17.00 price target on shares of Comstock Resources in a research report on Friday, February 13th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $21.00.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.