OMERS ADMINISTRATION Corp Buys New Position in Comstock Resources, Inc. $CRK

Key Points

• OMERS ADMINISTRATION Corp has invested approximately $1.43 million in Comstock Resources, acquiring 70,300 shares in the 1st quarter of the year.
• Analysts provide mixed ratings for Comstock Resources, with a consensus rating of "Reduce" and an average target price of $18.25.
• Comstock Resources reported a revenue increase of 90.5% year-over-year, totaling $470.26 million, and exceeded earnings expectations last quarter.

OMERS ADMINISTRATION Corp bought a new position in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 70,300 shares of the oil and gas producer's stock, valued at approximately $1,430,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CreativeOne Wealth LLC purchased a new stake in Comstock Resources in the first quarter worth approximately $243,000. CW Advisors LLC purchased a new stake in Comstock Resources in the first quarter worth approximately $943,000. Quantbot Technologies LP purchased a new stake in Comstock Resources in the first quarter worth approximately $2,771,000. Informed Momentum Co LLC purchased a new stake in Comstock Resources in the first quarter worth approximately $3,173,000. Finally, Public Sector Pension Investment Board boosted its stake in Comstock Resources by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 287,298 shares of the oil and gas producer's stock worth $5,844,000 after buying an additional 61,581 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company's stock.

Comstock Resources Trading Up 1.2%

Shares of Comstock Resources stock traded up $0.19 during midday trading on Thursday, reaching $16.00. 2,021,885 shares of the company's stock traded hands, compared to its average volume of 2,425,235. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $4.69 billion, a PE ratio of -66.68 and a beta of 0.27. The stock has a 50 day moving average of $19.59 and a 200-day moving average of $20.73. Comstock Resources, Inc. has a 12 month low of $9.09 and a 12 month high of $31.17.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.04. The company had revenue of $470.26 million during the quarter, compared to the consensus estimate of $431.82 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The firm's revenue for the quarter was up 90.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.20) earnings per share. As a group, equities analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CRK. Citigroup reaffirmed a "neutral" rating and issued a $27.00 target price (up previously from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. Wolfe Research raised Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price objective for the company in a research note on Tuesday, June 17th. UBS Group dropped their price objective on Comstock Resources from $18.00 to $14.00 and set a "sell" rating for the company in a research note on Wednesday, August 20th. Morgan Stanley dropped their price objective 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, Roth Capital lowered Comstock Resources from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $18.00 to $12.00 in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock 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.