Connor Clark & Lunn Investment Management Ltd. Takes Position in Comstock Resources, Inc. (NYSE:CRK)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 198,772 shares of the oil and gas producer's stock, valued at approximately $4,043,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Comstock Resources at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CRK. Corigliano Investment Advisers LLC purchased a new stake in Comstock Resources during the fourth quarter worth $11,450,000. Susquehanna Fundamental Investments LLC purchased a new stake in Comstock Resources during the fourth quarter worth $6,349,000. Marshall Wace LLP purchased a new stake in Comstock Resources during the fourth quarter worth $6,329,000. Dimensional Fund Advisors LP boosted its position in Comstock Resources by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer's stock worth $242,301,000 after purchasing an additional 227,638 shares in the last quarter. Finally, Aptus Capital Advisors LLC acquired a new position in shares of Comstock Resources in the fourth quarter worth $3,499,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Trading Up 0.2%

NYSE CRK traded up $0.03 during trading hours on Friday, hitting $15.96. 2,433,039 shares of the company's stock were exchanged, compared to its average volume of 2,706,688. The firm has a market capitalization of $4.68 billion, a P/E ratio of -66.50 and a beta of 0.28. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.36 and a current ratio of 0.36. The business's 50 day moving average is $22.67 and its 200-day moving average is $20.98. Comstock Resources, Inc. has a 12-month low of $9.09 and a 12-month high of $31.17.

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 EPS 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 analyst estimates of $431.82 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%. The firm's revenue was up 90.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.20) earnings per share. As a group, analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRK has been the subject of a number of analyst reports. Bank of America boosted their price target on Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Mizuho boosted their price target on Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Morgan Stanley cut their price target on Comstock Resources from $21.00 to $19.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. Citigroup reissued a "neutral" rating and issued a $27.00 price target (up from $22.00) on shares of Comstock Resources in a report on Friday, June 13th. Finally, UBS Group cut their price target on Comstock Resources from $20.00 to $18.00 and set a "sell" rating for the company in a report on Thursday, July 31st. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $19.18.

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.