46,385 Shares in Comstock Resources, Inc. $CRK Acquired by CW Advisors LLC

Key Points

• CW Advisors LLC has acquired a new stake in Comstock Resources, Inc., purchasing 46,385 shares valued at approximately $943,000, as reported in their latest SEC filing.
• Comstock Resources reported $0.13 earnings per share for the last quarter, exceeding the consensus estimate of $0.09, along with a significant 90.5% year-over-year revenue increase.
• Several analysts have adjusted their ratings for Comstock Resources, with the consensus rating being a "Reduce" and a target price of $18.25.

CW Advisors LLC purchased a new position 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 institutional investor purchased 46,385 shares of the oil and gas producer's stock, valued at approximately $943,000.

Other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in shares of Comstock Resources by 129.3% in the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock worth $42,000 after purchasing an additional 1,170 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in shares of Comstock Resources in the first quarter worth about $52,000. Quarry LP bought a new position in shares of Comstock Resources in the fourth quarter worth about $70,000. GAMMA Investing LLC grew its holdings in shares of Comstock Resources by 17.6% in the first quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer's stock worth $138,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Emerald Advisers LLC bought a new position in shares of Comstock Resources in the first quarter worth about $158,000. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Stock Performance

Shares of Comstock Resources stock traded up $0.61 during midday trading on Thursday, hitting $16.38. The company had a trading volume of 1,999,573 shares, compared to its average volume of 2,774,421. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of -68.23 and a beta of 0.28. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $20.66 and a 200 day simple moving average of $20.79. 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 data on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $470.26 million during the quarter, compared to analyst estimates of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. Comstock Resources's revenue was up 90.5% on a year-over-year basis. During the same period last year, the firm posted ($0.20) EPS. As a group, analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRK. Wall Street Zen upgraded shares of Comstock Resources to a "sell" rating in a report on Thursday, May 8th. Mizuho increased their target price on shares of Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Wolfe Research upgraded shares of Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 target price on the stock in a report on Tuesday, June 17th. Bank of America increased their target price on shares of Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Citigroup reiterated a "neutral" rating and set a $27.00 target price (up from $22.00) on shares of Comstock Resources in a report on Friday, June 13th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $18.25.

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.