GAMMA Investing LLC Boosts Stake in Comstock Resources, Inc. (NYSE:CRK)

GAMMA Investing LLC increased its holdings in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 2,291.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,373 shares of the oil and gas producer's stock after purchasing an additional 132,587 shares during the quarter. GAMMA Investing LLC's holdings in Comstock Resources were worth $2,815,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. VSM Wealth Advisory LLC bought a new stake in Comstock Resources during the fourth quarter valued at $27,000. 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. Smartleaf Asset Management LLC raised its holdings in shares of Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 2,326 shares during the period. Quarry LP acquired a new position in shares of Comstock Resources during the fourth quarter valued at about $70,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Comstock Resources during the fourth quarter valued at about $194,000. Institutional investors own 36.13% of the company's stock.

Comstock Resources Stock Up 4.5%

Shares of CRK traded up $1.14 on Monday, reaching $26.47. The company's stock had a trading volume of 2,092,969 shares, compared to its average volume of 2,538,268. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. Comstock Resources, Inc. has a twelve month low of $7.74 and a twelve month high of $26.65. The stock has a market capitalization of $7.75 billion, a PE ratio of -34.83, a PEG ratio of 1.65 and a beta of 0.32. The firm has a fifty day moving average of $21.92 and a 200-day moving average of $19.66.

Comstock Resources (NYSE:CRK - Get Free Report) last posted 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 company had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The firm's revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) EPS. Equities analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley reiterated a "cautious" rating and set a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Piper Sandler reiterated an "underweight" rating and set a $12.00 price objective (up previously from $6.00) on shares of Comstock Resources in a report on Tuesday, May 13th. Mizuho upped their price objective on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a report on Wednesday, March 5th. Finally, Wall Street Zen upgraded shares of Comstock Resources to a "sell" rating in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $18.30.

About Comstock Resources

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.