Goehring & Rozencwajg Associates LLC Has $7.91 Million Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Goehring & Rozencwajg Associates LLC lowered its position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 43.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 398,707 shares of the oil and gas producer's stock after selling 304,284 shares during the period. Comstock Resources accounts for 1.5% of Goehring & Rozencwajg Associates LLC's portfolio, making the stock its 25th biggest holding. Goehring & Rozencwajg Associates LLC owned about 0.14% of Comstock Resources worth $7,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRK. Smartleaf Asset Management LLC grew its position in Comstock Resources by 225.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 2,326 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Comstock Resources in the 4th quarter worth approximately $272,000. Charles Schwab Investment Management Inc. grew its holdings in Comstock Resources by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer's stock worth $27,436,000 after buying an additional 91,988 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Comstock Resources in the fourth quarter worth $11,891,000. Finally, Edgestream Partners L.P. bought a new position in shares of Comstock Resources in the fourth quarter worth $4,430,000. Institutional investors own 36.13% of the company's stock.

Comstock Resources Price Performance

Shares of NYSE:CRK traded down $0.84 during trading hours on Friday, hitting $24.01. 1,533,632 shares of the company's stock traded hands, compared to its average volume of 2,527,924. Comstock Resources, Inc. has a 52 week low of $7.74 and a 52 week high of $31.17. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.40 and a current ratio of 0.40. The company's fifty day simple moving average is $24.45 and its two-hundred day simple moving average is $20.83. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -21.63 and a beta of 0.37.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $512.85 million during the quarter, compared to analysts' expectations of $408.99 million. Comstock Resources had a negative net margin of 23.39% and a negative return on equity of 0.67%. The firm's revenue for the quarter was up 52.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share. As a group, equities analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group started coverage on Comstock Resources in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 price target for the company. Wolfe Research upgraded shares of Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 target price for the company in a research report on Tuesday, June 17th. Mizuho increased their target price on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Morgan Stanley reiterated a "cautious" rating and issued a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Finally, Citigroup reiterated a "neutral" rating and issued a $27.00 price objective (up from $22.00) on shares of Comstock Resources in a report on Friday, June 13th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $19.73.

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.