Numerai GP LLC Takes $1.58 Million Position in Comstock Resources, Inc. (NYSE:CRK)

Numerai GP LLC acquired a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,829 shares of the oil and gas producer's stock, valued at approximately $1,582,000.

A number of other hedge funds have also modified their holdings of CRK. Raymond James Financial Inc. acquired a new position in shares of Comstock Resources in the fourth quarter valued at about $11,891,000. Corigliano Investment Advisers LLC acquired a new position in shares of Comstock Resources in the fourth quarter valued at about $11,450,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Comstock Resources in the fourth quarter valued at about $6,349,000. Marshall Wace LLP acquired a new position in shares of Comstock Resources in the fourth quarter valued at about $6,329,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Comstock Resources in the fourth quarter valued at about $4,430,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley restated a "cautious" rating and issued a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Mizuho upped their target price on Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Tuesday. Williams Trading set a $13.00 target price on Comstock Resources in a research note on Wednesday, March 5th. StockNews.com upgraded Comstock Resources to a "sell" rating in a research note on Thursday, May 8th. Finally, UBS Group assumed coverage on Comstock Resources in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $15.32.

Comstock Resources Price Performance

CRK stock traded down $0.14 during mid-day trading on Friday, reaching $24.26. 1,376,954 shares of the company's stock were exchanged, compared to its average volume of 2,618,097. The company has a market cap of $7.11 billion, a price-to-earnings ratio of -31.92, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14. The stock's 50 day moving average is $19.91 and its 200 day moving average is $18.08. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. Comstock Resources, Inc. has a 12-month low of $7.74 and a 12-month high of $24.48.

Comstock Resources (NYSE:CRK - Get Free Report) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $512.85 million for the quarter, compared to the consensus estimate of $408.99 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business's quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. On average, research analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current year.

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.