94,309 Shares in Comstock Resources, Inc. $CRK Acquired by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC has acquired 94,309 shares of Comstock Resources, Inc., valued at approximately $2.6 million, making it the firm's 15th largest position.
• Comstock Resources reported earnings per share of $0.13 for the last quarter, surpassing analysts' expectations, with a revenue increase of 90.5% year-over-year.
• Equities analysts have recently lowered their target prices for Comstock Resources, with Roth Capital reducing its target from $18.00 to $12.00, reflecting ongoing market concerns.

Counterpoint Mutual Funds LLC acquired a new position in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 94,309 shares of the oil and gas producer's stock, valued at approximately $2,610,000. Comstock Resources accounts for about 0.2% of Counterpoint Mutual Funds LLC's holdings, making the stock its 15th largest position.

Several other large investors have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its holdings in Comstock Resources by 1.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer's stock valued at $917,000 after purchasing an additional 550 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Comstock Resources by 17.6% during the 1st quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer's stock worth $138,000 after acquiring an additional 1,017 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Comstock Resources by 11.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,599 shares of the oil and gas producer's stock worth $236,000 after acquiring an additional 1,145 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Comstock Resources by 129.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock worth $42,000 after acquiring an additional 1,170 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Comstock Resources by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer's stock worth $957,000 after acquiring an additional 1,793 shares during the last quarter. 36.13% of the stock is owned by institutional investors.

Comstock Resources Price Performance

Shares of NYSE CRK opened at $17.70 on Tuesday. Comstock Resources, Inc. has a 1 year low of $10.72 and a 1 year high of $31.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.36 and a quick ratio of 0.36. The company's 50-day moving average is $17.42 and its 200 day moving average is $20.55. The stock has a market capitalization of $5.19 billion, a P/E ratio of -73.73 and a beta of 0.27.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The company had revenue of $470.26 million for the quarter, compared to analysts' expectations of $431.82 million. During the same quarter in the previous year, the company earned ($0.20) earnings per share. Comstock Resources's quarterly revenue was up 90.5% on a year-over-year basis. On average, sell-side analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Roth Capital cut shares of Comstock Resources from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $18.00 to $12.00 in a research report on Monday, August 18th. UBS Group decreased their target price on shares of Comstock Resources from $18.00 to $14.00 and set a "sell" rating on the stock in a research report on Wednesday, August 20th. Piper Sandler decreased their target price on shares of Comstock Resources from $12.00 to $10.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Morgan Stanley decreased their target price on shares of Comstock Resources from $21.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. Finally, Mizuho decreased their target price on shares of Comstock Resources from $27.00 to $22.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Comstock Resources currently has a consensus rating of "Reduce" and an average price target of $18.08.

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.

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