Informed Momentum Co LLC Acquires Shares of 156,020 Comstock Resources, Inc. (NYSE:CRK)

Key Points

• Informed Momentum Co LLC purchased 156,020 shares of Comstock Resources, Inc. for around $3.17 million, representing about 0.05% of the company's total shares held at the end of the reporting period.
• Comstock Resources reported a 90.5% increase in revenue compared to the previous year, with earnings per share of $0.13 surpassing estimates by $0.04.
• Analysts have varied ratings on Comstock Resources, with a consensus rating of "Hold" and an average target price of $19.18 despite recent movements in price targets from different firms.

Informed Momentum Co LLC purchased a new stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 156,020 shares of the oil and gas producer's stock, valued at approximately $3,173,000. Informed Momentum Co LLC owned about 0.05% of Comstock Resources at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CRK. JPMorgan Chase & Co. boosted its position in Comstock Resources by 7.4% during the fourth quarter. JPMorgan Chase & Co. now owns 182,995 shares of the oil and gas producer's stock valued at $3,334,000 after acquiring an additional 12,657 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Comstock Resources by 1.9% during the fourth quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer's stock valued at $747,000 after purchasing an additional 772 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Comstock Resources by 804.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer's stock valued at $54,000 after purchasing an additional 2,631 shares during the period. Townsquare Capital LLC acquired a new position in shares of Comstock Resources during the fourth quarter valued at about $202,000. Finally, Mariner LLC raised its holdings in shares of Comstock Resources by 36.4% during the fourth quarter. Mariner LLC now owns 68,156 shares of the oil and gas producer's stock valued at $1,242,000 after purchasing an additional 18,187 shares during the period. Institutional investors own 36.13% of the company's stock.

Comstock Resources Stock Up 0.2%

Shares of CRK traded up $0.03 on Friday, reaching $15.96. The company's stock had a trading volume of 2,433,039 shares, compared to its average volume of 2,434,643. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $4.68 billion, a PE ratio of -66.50 and a beta of 0.28. Comstock Resources, Inc. has a twelve month low of $9.09 and a twelve month high of $31.17. The firm has a fifty day moving average of $22.83 and a 200-day moving average of $20.99.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $470.26 million during the quarter, compared to analyst estimates of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The company's revenue for the quarter was up 90.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) EPS. Equities analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRK. Citigroup reiterated a "neutral" rating and set a $27.00 price objective (up previously from $22.00) on shares of Comstock Resources in a report on Friday, June 13th. Wolfe Research upgraded shares of Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price objective on the stock in a report on Tuesday, June 17th. Morgan Stanley dropped their price objective on shares of Comstock Resources from $21.00 to $19.00 and set an "equal weight" rating on the stock in a report on Monday, August 4th. Piper Sandler dropped their price objective on shares of Comstock Resources from $12.00 to $10.00 and set an "underweight" rating on the stock in a report on Monday, August 4th. Finally, UBS Group dropped their price objective on shares of Comstock Resources from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Thursday, July 31st. Four research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Comstock Resources has an average rating of "Hold" and a consensus target price of $19.18.

Comstock Resources Company Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.