428,648 Shares in Comstock Resources, Inc. $CRK Purchased by Woodline Partners LP

Key Points

• Woodline Partners LP acquired 428,648 shares of Comstock Resources, valued at approximately $8.7 million, representing 0.15% of the company's stock by the end of the first quarter.
• Comstock Resources reported $0.13 earnings per share for its latest quarter, exceeding expectations of $0.09, with a substantial 90.5% increase in revenue year-over-year.
• Analysts have varied opinions on Comstock Resources, with price objectives ranging from $10 to $27 and an average rating classified as "Reduce."

Woodline Partners LP acquired a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 428,648 shares of the oil and gas producer's stock, valued at approximately $8,719,000. Woodline Partners LP owned about 0.15% of Comstock Resources at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Comstock Resources by 17.6% in the first quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer's stock valued at $138,000 after purchasing an additional 1,017 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in Comstock Resources by 1.2% in the first quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer's stock valued at $917,000 after acquiring an additional 550 shares during the period. Nisa Investment Advisors LLC grew its stake in Comstock Resources by 129.3% in the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock valued at $42,000 after acquiring an additional 1,170 shares during the period. Principal Financial Group Inc. grew its stake in Comstock Resources by 2.7% in the first quarter. Principal Financial Group Inc. now owns 451,327 shares of the oil and gas producer's stock valued at $9,180,000 after acquiring an additional 11,857 shares during the period. Finally, Trexquant Investment LP acquired a new position in Comstock Resources in the first quarter valued at about $701,000. Institutional investors own 36.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CRK shares. Piper Sandler decreased their target price on Comstock Resources from $12.00 to $10.00 and set an "underweight" rating for the company in a research note on Monday, August 4th. Morgan Stanley decreased their target price on Comstock Resources from $21.00 to $19.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. Roth Capital cut Comstock Resources from a "neutral" rating to a "sell" rating and decreased their target price for the company from $18.00 to $12.00 in a research note on Monday, August 18th. Wolfe Research raised Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 target price for the company in a research note on Tuesday, June 17th. Finally, UBS Group decreased their target price on Comstock Resources from $18.00 to $14.00 and set a "sell" rating for the company in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, Comstock Resources has a consensus rating of "Reduce" and a consensus target price of $18.08.

Comstock Resources Stock Up 1.8%

Shares of CRK stock traded up $0.30 on Wednesday, hitting $17.37. 724,078 shares of the stock were exchanged, compared to its average volume of 2,399,956. 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 firm has a market capitalization of $5.09 billion, a P/E ratio of -72.50 and a beta of 0.27. The business has a 50-day moving average of $17.87 and a 200 day moving average of $20.56. Comstock Resources, Inc. has a fifty-two week low of $9.84 and a fifty-two week high of $31.17.

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 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. The company had revenue of $470.26 million during the quarter, compared to analysts' expectations of $431.82 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.Comstock Resources's revenue for the quarter was up 90.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.20) earnings per share. Equities analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Comstock Resources 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.