49,350 Shares in Comstock Resources, Inc. $CRK Purchased by Rahlfs Capital LLC

Rahlfs Capital LLC acquired a new position in shares of Comstock Resources, Inc. (NYSE:CRK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,350 shares of the oil and gas producer’s stock, valued at approximately $1,144,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE lifted its position in Comstock Resources by 5.1% during the third quarter. Bank of America Corp DE now owns 1,948,702 shares of the oil and gas producer’s stock worth $38,643,000 after purchasing an additional 94,856 shares during the period. Woodline Partners LP lifted its position in Comstock Resources by 50.5% during the third quarter. Woodline Partners LP now owns 1,231,916 shares of the oil and gas producer’s stock worth $24,429,000 after purchasing an additional 413,611 shares during the period. Aventail Capital Group LP lifted its position in Comstock Resources by 149.9% during the third quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock worth $22,680,000 after purchasing an additional 686,002 shares during the period. Goldman Sachs Group Inc. lifted its position in Comstock Resources by 67.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock worth $22,107,000 after purchasing an additional 437,476 shares during the period. Finally, Man Group plc lifted its position in Comstock Resources by 1,752.8% during the third quarter. Man Group plc now owns 600,205 shares of the oil and gas producer’s stock worth $11,902,000 after purchasing an additional 567,810 shares during the period. Institutional investors own 36.13% of the company’s stock.

Insider Activity

In other news, VP Patrick Mcgough sold 48,915 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $21.20, for a total value of $1,036,998.00. Following the completion of the transaction, the vice president owned 187,516 shares of the company’s stock, valued at $3,975,339.20. This represents a 20.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Comstock Resources Stock Down 0.1%

Shares of NYSE CRK opened at $14.86 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.96. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 6.78 and a beta of 0.22. Comstock Resources, Inc. has a 12 month low of $14.10 and a 12 month high of $31.17. The stock has a 50-day moving average price of $18.52 and a two-hundred day moving average price of $20.96.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). The business had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.02 million. Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. As a group, analysts forecast that Comstock Resources, Inc. will post 0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group reaffirmed a “sell” rating and set a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research report on Monday. Bank of America downgraded Comstock Resources from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $27.00 to $24.00 in a research note on Friday, January 16th. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Morgan Stanley set a $19.00 target price on Comstock Resources in a research note on Friday, February 13th. Finally, Citigroup reissued a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $19.89.

Comstock Resources Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.