Magnetar Financial LLC Invests $1.01 Million in Comstock Resources, Inc. $CRK

Key Points

• Magnetar Financial LLC has acquired a new stake in Comstock Resources, purchasing 49,768 shares valued at approximately $1,012,000.
• Comstock Resources reported earnings of $0.13 per share for the last quarter, exceeding analyst estimates and showing a revenue increase of 90.5% year-over-year.
• Wall Street analysts have mixed views on Comstock Resources, with price targets ranging from $10.00 to $27.00 and an average rating of "Reduce".

Magnetar Financial LLC purchased a new position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 49,768 shares of the oil and gas producer's stock, valued at approximately $1,012,000.

Other large investors have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC boosted its position in Comstock Resources by 5.2% during the fourth quarter. MetLife Investment Management LLC now owns 56,177 shares of the oil and gas producer's stock valued at $1,024,000 after purchasing an additional 2,761 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Comstock Resources by 11.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 66,060 shares of the oil and gas producer's stock worth $1,204,000 after purchasing an additional 6,741 shares in the last quarter. Aptus Capital Advisors LLC acquired a new stake in shares of Comstock Resources during the 4th quarter valued at about $3,499,000. BOKF NA bought a new stake in shares of Comstock Resources in the 4th quarter valued at approximately $2,584,000. Finally, Corigliano Investment Advisers LLC acquired a new position in Comstock Resources in the fourth quarter worth approximately $11,450,000. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Stock Performance

Comstock Resources stock traded up $0.14 during trading hours on Thursday, hitting $15.95. The stock had a trading volume of 1,107,016 shares, compared to its average volume of 2,419,496. The company has a 50-day moving average of $19.59 and a two-hundred day moving average of $20.73. 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, Inc. has a fifty-two week low of $9.09 and a fifty-two week high of $31.17. The company has a market cap of $4.68 billion, a PE ratio of -66.33 and a beta of 0.27.

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

Wall Street Analyst Weigh In

CRK has been the topic of a number of recent research reports. Mizuho raised their price target on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Roth Capital downgraded shares of Comstock Resources from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $18.00 to $12.00 in a research report on Monday, August 18th. UBS Group reduced their price target on Comstock Resources from $18.00 to $14.00 and set a "sell" rating for the company in a research report on Wednesday, August 20th. Morgan Stanley decreased their price target on Comstock Resources from $21.00 to $19.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. Finally, Wall Street Zen raised Comstock Resources to a "sell" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Comstock Resources presently has an average rating of "Reduce" and an average price target of $18.25.

Comstock Resources Company Profile

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.