Trexquant Investment LP Takes Position 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 shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,475 shares of the oil and gas producer's stock, valued at approximately $701,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRK. Deutsche Bank AG boosted its position in Comstock Resources by 72.6% during the 4th quarter. Deutsche Bank AG now owns 100,520 shares of the oil and gas producer's stock valued at $1,831,000 after purchasing an additional 42,296 shares during the period. Graham Capital Management L.P. bought a new position in shares of Comstock Resources in the fourth quarter worth $653,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Comstock Resources by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer's stock worth $957,000 after purchasing an additional 1,793 shares in the last quarter. McGowan Group Asset Management Inc. bought a new position in shares of Comstock Resources in the fourth quarter worth $252,000. Finally, Numerai GP LLC bought a new position in shares of Comstock Resources in the fourth quarter worth $1,582,000. Institutional investors and hedge funds own 36.13% of the company's stock.

Analyst Ratings Changes

CRK has been the subject of several recent analyst reports. Piper Sandler decreased their price target on Comstock Resources from $12.00 to $10.00 and set an "underweight" rating for the company in a research note on Monday, August 4th. Wolfe Research raised Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price target for the company in a research note on Tuesday, June 17th. 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. UBS Group decreased their price target 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. Finally, Bank of America increased their price target on Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, Comstock Resources currently has a consensus rating of "Reduce" and an average target price of $18.25.

Comstock Resources Price Performance

CRK stock traded down $0.03 during trading hours on Friday, hitting $15.97. 1,928,045 shares of the stock traded hands, compared to its average volume of 2,135,736. The stock has a 50-day simple moving average of $18.14 and a 200 day simple moving average of $20.56. Comstock Resources, Inc. has a one year low of $9.73 and a one year high of $31.17. The company has a market cap of $4.68 billion, a P/E ratio of -66.54 and a beta of 0.27. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.24.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $431.82 million. During the same quarter last year, the business posted ($0.20) earnings per share. The company's quarterly revenue was up 90.5% on a year-over-year basis. Equities analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Comstock Resources 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.