CW Advisors LLC Buys Shares of 46,385 Comstock Resources, Inc. $CRK

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 bought a new stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 46,385 shares of the oil and gas producer's stock, valued at approximately $943,000.

A number of other large investors also recently modified their holdings of CRK. Nisa Investment Advisors LLC lifted its stake in shares of Comstock Resources by 129.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock valued at $42,000 after buying an additional 1,170 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in Comstock Resources in the 1st quarter worth $52,000. Quarry LP purchased a new stake in Comstock Resources in the 4th quarter worth $70,000. GAMMA Investing LLC lifted its stake in Comstock Resources by 17.6% in the 1st 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 in the last quarter. Finally, Emerald Advisers LLC purchased a new stake in Comstock Resources in the 1st quarter worth $158,000. Hedge funds and other institutional investors own 36.13% of the company's stock.

Comstock Resources Trading Down 1.5%

NYSE:CRK traded down $0.25 during mid-day trading on Friday, hitting $16.11. 1,443,538 shares of the stock traded hands, compared to its average volume of 2,287,522. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -67.10 and a beta of 0.27. Comstock Resources, Inc. has a 52 week low of $9.09 and a 52 week high of $31.17. The firm's 50 day moving average is $20.38 and its two-hundred day moving average is $20.81. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24.

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, beating the consensus estimate of $0.09 by $0.04. The company had revenue of $470.26 million for the quarter, compared to the consensus estimate of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The firm's revenue was up 90.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.20) EPS. On average, equities research analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on CRK shares. Wolfe Research upgraded shares of Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price target on the stock in a research note on Tuesday, June 17th. Wall Street Zen upgraded shares of Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Citigroup restated a "neutral" rating and set a $27.00 target price (up from $22.00) on shares of Comstock Resources in a research report on Friday, June 13th. Morgan Stanley decreased their target price on shares of Comstock Resources from $21.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. Finally, Roth Capital cut shares of Comstock Resources from a "neutral" rating to a "sell" rating and decreased their target price for the company from $18.00 to $12.00 in a research report on Monday, August 18th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price 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.