Comstock Resources, Inc. (NYSE:CRK) Holdings Raised by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP increased its stake in Comstock Resources, Inc. by 39.8% in Q1, owning 93,492 shares valued at approximately $1.9 million.
• Several institutional investors recently acquired shares in Comstock, contributing to a total of 36.13% of the stock currently held by these investors.
• Comstock Resources reported $0.18 earnings per share for its last quarter, exceeding estimates and showing a revenue increase of 52.7% year-over-year.

GSA Capital Partners LLP increased its position in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 39.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,492 shares of the oil and gas producer's stock after purchasing an additional 26,609 shares during the period. GSA Capital Partners LLP's holdings in Comstock Resources were worth $1,902,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. TCTC Holdings LLC grew its stake in Comstock Resources by 184.3% in the first quarter. TCTC Holdings LLC now owns 61,700 shares of the oil and gas producer's stock worth $1,255,000 after purchasing an additional 40,000 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Comstock Resources in the 1st quarter valued at about $1,467,000. Wedbush Securities Inc. acquired a new position in shares of Comstock Resources in the 1st quarter valued at about $219,000. Forum Financial Management LP boosted its holdings in shares of Comstock Resources by 25.1% in the 1st quarter. Forum Financial Management LP now owns 12,775 shares of the oil and gas producer's stock valued at $260,000 after buying an additional 2,561 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Comstock Resources by 645.5% in the first quarter. Victory Capital Management Inc. now owns 120,928 shares of the oil and gas producer's stock valued at $2,460,000 after acquiring an additional 104,706 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Price Performance

Comstock Resources stock traded down $1.36 during trading hours on Friday, hitting $16.51. 3,387,863 shares of the company traded hands, compared to its average volume of 2,436,989. The firm has a market cap of $4.84 billion, a P/E ratio of -68.80 and a beta of 0.37. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.34. The firm's 50-day simple moving average is $24.39 and its two-hundred day simple moving average is $21.32. Comstock Resources, Inc. has a 1-year low of $7.74 and a 1-year high of $31.17.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, topping 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 3.69%. The firm had revenue of $470.26 million for the quarter, compared to analysts' expectations of $431.82 million. During the same period in the previous year, the business earned ($0.20) earnings per share. Comstock Resources's revenue for the quarter was up 90.5% compared to the same quarter last year. As a group, analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on CRK. UBS Group decreased their target price on Comstock Resources from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Thursday. Citigroup restated a "neutral" rating and issued a $27.00 target price (up from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. Bank of America lifted their target price on Comstock Resources from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Wolfe Research upgraded 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, Piper Sandler restated an "underweight" rating and issued a $12.00 target price (up from $6.00) on shares of Comstock Resources in a research note on Tuesday, May 13th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.64.

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.