Goehring & Rozencwajg Associates LLC Acquires 222,569 Shares of Comstock Resources, Inc. $CRK

Key Points

• Goehring & Rozencwajg Associates LLC increased its Comstock Resources stake by 34.8% in the first quarter, buying 222,569 additional shares and bringing its total holding to 861,858 shares worth about $18.2 million.
• Comstock Resources shares were trading around $13.10, near their 52-week low of $12.44 and well below the 52-week high of $28.10, reflecting continued weakness in the stock.
• The company recently missed earnings expectations for the quarter, posting $0.15 EPS versus the $0.23 estimate, and analysts remain cautious with a consensus rating of “Reduce” and an average price target of $16.11.

Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 34.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 861,858 shares of the oil and gas producer's stock after buying an additional 222,569 shares during the quarter. Goehring & Rozencwajg Associates LLC owned about 0.29% of Comstock Resources worth $18,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CRK. CreativeOne Wealth LLC boosted its stake in Comstock Resources by 3.7% in the third quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer's stock valued at $276,000 after acquiring an additional 500 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Comstock Resources by 2.0% during the 4th quarter. Natixis Advisors LLC now owns 29,703 shares of the oil and gas producer's stock valued at $689,000 after acquiring an additional 572 shares during the last quarter. Carrera Capital Advisors lifted its stake in shares of Comstock Resources by 0.7% in the 4th quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer's stock valued at $1,922,000 after purchasing an additional 606 shares during the period. GAMMA Investing LLC boosted its position in shares of Comstock Resources by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer's stock worth $146,000 after purchasing an additional 679 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Comstock Resources by 14.2% in the 4th quarter. Farther Finance Advisors LLC now owns 6,435 shares of the oil and gas producer's stock worth $149,000 after purchasing an additional 802 shares during the last quarter. 36.13% of the stock is owned by institutional investors.

Comstock Resources Stock Up 0.9%

NYSE:CRK opened at $13.10 on Thursday. Comstock Resources, Inc. has a 1 year low of $12.44 and a 1 year high of $28.10. The stock has a 50-day moving average price of $13.82 and a two-hundred day moving average price of $18.09. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 5.98 and a beta of 0.10. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.96.

Comstock Resources (NYSE:CRK - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The business had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.01 million. During the same period in the prior year, the business earned $0.18 EPS. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that Comstock Resources, Inc. will post 0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CRK shares. The Goldman Sachs Group dropped their price objective on Comstock Resources from $13.00 to $10.00 and set a "sell" rating for the company in a report on Tuesday, June 30th. Williams Trading set a $16.00 target price on Comstock Resources in a report on Thursday, May 14th. Wall Street Zen lowered Comstock Resources from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 9th. Roth Capital raised Comstock Resources from a "sell" rating to a "neutral" rating and set a $13.00 price target for the company in a research note on Friday, July 10th. Finally, Mizuho cut their price target on shares of Comstock Resources from $25.00 to $21.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 27th. Seven analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $16.11.

Comstock Resources 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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