Trexquant Investment LP Acquires New Shares in Comstock Resources, Inc. $CRK

Key Points

• Trexquant Investment LP has acquired a new stake in Comstock Resources, purchasing 34,475 shares valued at approximately $701,000 in the 1st quarter.
• Comstock Resources has experienced mixed analyst forecasts, with ratings ranging from "buy" to "sell" and a current average price target of $18.25.
• In its latest quarterly earnings, Comstock reported a revenue of $470.26 million and earnings per share of $0.13, surpassing analysts' expectations.

Trexquant Investment LP acquired a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 34,475 shares of the oil and gas producer's stock, valued at approximately $701,000.

Several other hedge funds have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund grew its holdings in Comstock Resources by 1.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer's stock valued at $917,000 after buying an additional 550 shares during the last quarter. GAMMA Investing LLC grew its holdings in Comstock Resources by 17.6% during the 1st quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer's stock valued at $138,000 after buying an additional 1,017 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Comstock Resources by 11.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,599 shares of the oil and gas producer's stock valued at $236,000 after buying an additional 1,145 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Comstock Resources by 129.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock valued at $42,000 after buying an additional 1,170 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Comstock Resources by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer's stock valued at $957,000 after buying an additional 1,793 shares during the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRK has been the topic of a number of analyst reports. Piper Sandler lowered their target price on Comstock Resources from $12.00 to $10.00 and set an "underweight" rating on the stock in a report on Monday, August 4th. UBS Group lowered their target price on Comstock Resources from $18.00 to $14.00 and set a "sell" rating on the stock in a report on Wednesday, August 20th. Mizuho raised their price objective on Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Roth Capital downgraded Comstock Resources from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $18.00 to $12.00 in a research report on Monday, August 18th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $27.00 price objective (up previously from $22.00) on shares of Comstock Resources in a research report on Friday, June 13th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $18.25.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $15.89 on Monday. The company has a market cap of $4.66 billion, a P/E ratio of -66.18 and a beta of 0.27. 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 52 week low of $9.09 and a 52 week high of $31.17. The business has a fifty day simple moving average of $19.08 and a 200-day simple moving average of $20.69.

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

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.

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