GSA Capital Partners LLP Makes New $2.03 Million Investment in Comstock Resources, Inc. $CRK

Key Points

• GSA Capital Partners acquired 135,905 shares of Comstock Resources valued at approximately $2.03 million, while other institutional investors also increased their positions. Hedge funds and institutional investors collectively own 36.13% of CRK.
• Analyst sentiment remains cautious: six analysts rate the stock “Hold” and four rate it “Sell,” producing an average “Reduce” rating and a consensus price target of $15.
• Comstock reported quarterly EPS of $0.03, beating estimates of $0.02, but revenue of $353.28 million fell short of expectations and declined 24.9% year over year. Shares opened at $14.05, up 3.5%.

GSA Capital Partners LLP acquired 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 Securities and Exchange Commission. The firm acquired 135,905 shares of the oil and gas producer's stock, valued at approximately $2,028,000.

Several other hedge funds also recently made changes to their positions in the business. Liontrust Investment Partners LLP grew its position in Comstock Resources by 877.8% in the first quarter. Liontrust Investment Partners LLP now owns 128,938 shares of the oil and gas producer's stock worth $2,718,000 after buying an additional 115,752 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Comstock Resources in the first quarter valued at $2,780,000. Goehring & Rozencwajg Associates LLC lifted its position in shares of Comstock Resources by 34.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 861,858 shares of the oil and gas producer's stock valued at $18,168,000 after acquiring an additional 222,569 shares during the last quarter. Fiduciary Alliance LLC lifted its position in shares of Comstock Resources by 254.2% during the 1st quarter. Fiduciary Alliance LLC now owns 160,675 shares of the oil and gas producer's stock valued at $3,387,000 after acquiring an additional 115,313 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Comstock Resources by 143.2% during the 1st quarter. First Trust Advisors LP now owns 1,079,633 shares of the oil and gas producer's stock worth $22,759,000 after acquiring an additional 635,781 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company's stock.

Wall Street Analyst Weigh In

CRK has been the topic of a number of recent research reports. Williams Trading set a $16.00 target price on Comstock Resources in a report on Thursday, May 14th. The Goldman Sachs Group reduced their target price on Comstock Resources from $13.00 to $10.00 and set a "sell" rating for the company in a report on Tuesday, June 30th. Mizuho set a $19.00 price target on Comstock Resources in a research report on Monday, August 10th. Citigroup dropped their price target on Comstock Resources from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, July 20th. Finally, Morgan Stanley set a $16.00 price objective on Comstock Resources and gave the stock an "equal weight" rating in a report on Monday, June 29th. Six analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Comstock Resources has an average rating of "Reduce" and a consensus target price of $15.00.

Comstock Resources Trading Up 3.5%

NYSE CRK opened at $14.05 on Friday. Comstock Resources, Inc. has a twelve month low of $12.12 and a twelve month high of $28.10. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 7.90 and a beta of 0.13. The firm's 50 day moving average price is $13.52 and its two-hundred day moving average price is $16.69.

Comstock Resources (NYSE:CRK - Get Free Report) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. The company had revenue of $353.28 million during the quarter, compared to analyst estimates of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The company's revenue for the quarter was down 24.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. Equities analysts anticipate that Comstock Resources, Inc. will post 0.48 EPS for the current year.

About Comstock Resources

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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