Deutsche Bank AG Purchases Shares of 89,993 Comstock Resources, Inc. $CRK

Key Points

• Deutsche Bank acquired 89,993 shares of Comstock Resources in the second quarter, worth approximately $1.34 million. Institutional investors collectively own 36.13% of the company.
• Analyst sentiment remains cautious: six analysts rate CRK a hold and four rate it a sell, resulting in an average “Reduce” rating and a consensus price target of $14.89.
• Comstock’s latest earnings slightly exceeded EPS expectations at $0.03, but revenue fell 24.9% year over year to $353.28 million, below the $419.22 million analyst estimate.

Deutsche Bank AG bought a new stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 89,993 shares of the oil and gas producer's stock, valued at approximately $1,343,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rothschild Investment LLC raised its stake in shares of Comstock Resources by 740.4% in the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 1,007 shares in the last quarter. Advisory Services Network LLC bought a new stake in Comstock Resources in the 3rd quarter valued at $27,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Comstock Resources in the 1st quarter valued at $29,000. Kemnay Advisory Services Inc. acquired a new position in shares of Comstock Resources in the 4th quarter valued at $29,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Comstock Resources by 877.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 1,290 shares during the period. Institutional investors and hedge funds own 36.13% of the company's stock.

Analyst Ratings Changes

CRK has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Comstock Resources in a report on Monday, August 17th. UBS Group reaffirmed a "sell" rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Morgan Stanley set a $15.00 price target on Comstock Resources and gave the company an "equal weight" rating in a research report on Wednesday, August 19th. Roth Capital reiterated a "neutral" rating on shares of Comstock Resources in a research note on Thursday, July 30th. Finally, Citigroup cut their price objective on Comstock Resources from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, July 20th. Six analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $14.89.

Comstock Resources Price Performance

Comstock Resources stock opened at $14.27 on Friday. The business's 50-day simple moving average is $13.70 and its 200 day simple moving average is $16.09. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 8.02 and a beta of 0.13. Comstock Resources, Inc. has a 12-month low of $12.12 and a 12-month high of $28.10.

Comstock Resources (NYSE:CRK - Get Free Report) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. The firm had revenue of $353.28 million during the quarter, compared to analyst estimates of $419.22 million. Comstock Resources had a net margin of 23.31% and a return on equity of 4.12%. The business's quarterly revenue was down 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS. As a group, research analysts anticipate that Comstock Resources, Inc. will post 0.4 earnings per share for the current year.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.

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