131,900 Shares in Comstock Resources, Inc. $CRK Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies acquired 131,900 shares of Comstock Resources in the first quarter, valued at approximately $2.78 million. Institutional investors collectively own 36.13% of CRK.
• Comstock reported quarterly EPS of $0.03, beating estimates of $0.02, but revenue of $353.28 million fell short of the $419.22 million forecast and declined 24.9% year over year.
• Analyst sentiment remains cautious: CRK has a consensus “Reduce” rating, with six Hold ratings and four Sell ratings, and an average price target of $15.22 versus its reported share price of $13.45.

Renaissance Technologies LLC acquired a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 131,900 shares of the oil and gas producer's stock, valued at approximately $2,780,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRK. Dragoneer Investment Group LLC purchased a new position in shares of Comstock Resources in the 4th quarter worth approximately $99,632,000. Bank of America Corp DE increased its position in shares of Comstock Resources by 344.5% during the second quarter. Bank of America Corp DE now owns 1,853,846 shares of the oil and gas producer's stock valued at $51,296,000 after acquiring an additional 1,436,746 shares during the last quarter. Gemsstock Ltd. bought a new stake in Comstock Resources during the fourth quarter worth $19,186,000. First Trust Advisors LP lifted its holdings in Comstock Resources by 143.2% during the first quarter. First Trust Advisors LP now owns 1,079,633 shares of the oil and gas producer's stock worth $22,759,000 after acquiring an additional 635,781 shares during the period. Finally, Man Group plc boosted its position in Comstock Resources by 1,752.8% in the third quarter. Man Group plc now owns 600,205 shares of the oil and gas producer's stock worth $11,902,000 after purchasing an additional 567,810 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company's stock.

Comstock Resources Stock Performance

NYSE:CRK opened at $13.45 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.48 and a quick ratio of 0.48. The business has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $16.98. Comstock Resources, Inc. has a 1 year low of $12.12 and a 1 year high of $28.10. The company has a market capitalization of $3.95 billion, a P/E ratio of 7.55 and a beta of 0.13.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. The firm had revenue of $353.28 million for the quarter, compared to analysts' expectations of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The business's revenue for the quarter was down 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, analysts expect that Comstock Resources, Inc. will post 0.48 earnings per share for the current year.

Analyst Ratings Changes

CRK has been the subject of several research analyst reports. Roth Capital reaffirmed a "neutral" rating on shares of Comstock Resources in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Comstock Resources from a "sell" rating to a "strong sell" rating in a report on Sunday. Citigroup cut their price target on shares of Comstock Resources from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, July 20th. Weiss Ratings restated a "hold (c)" rating on shares of Comstock Resources in a research report on Wednesday, May 20th. Finally, The Goldman Sachs Group decreased their price objective on shares of Comstock Resources from $13.00 to $10.00 and set a "sell" rating for the company in a report on Tuesday, June 30th. Six investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $15.22.

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.

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