Great Hill Capital LLC Acquires Shares of 205,499 Comstock Resources, Inc. $CRK

Great Hill Capital LLC bought a new stake in shares of Comstock Resources, Inc. (NYSE:CRK) in the 3rd quarter, Holdings Channel reports. The fund bought 205,499 shares of the oil and gas producer’s stock, valued at approximately $4,075,000. Comstock Resources comprises approximately 0.6% of Great Hill Capital LLC’s portfolio, making the stock its 18th largest holding.

Several other institutional investors have also modified their holdings of CRK. Legacy Investment Solutions LLC purchased a new position in Comstock Resources in the second quarter valued at about $29,000. Atlantic Union Bankshares Corp acquired a new position in shares of Comstock Resources in the 2nd quarter valued at approximately $34,000. Jones Financial Companies Lllp raised its position in shares of Comstock Resources by 671.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 1,376 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Comstock Resources during the 3rd quarter valued at approximately $44,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Comstock Resources by 1,190.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,825 shares of the oil and gas producer’s stock worth $78,000 after buying an additional 2,606 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Trading Up 0.6%

Shares of NYSE CRK opened at $18.40 on Thursday. Comstock Resources, Inc. has a 12-month low of $14.65 and a 12-month high of $31.17. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 13.05 and a beta of 0.39. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. The stock’s 50 day simple moving average is $21.77 and its 200 day simple moving average is $20.51.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The firm had revenue of $787.32 million for the quarter, compared to analyst estimates of $504.66 million. During the same period last year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 115.5% on a year-over-year basis. Equities research analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Wall Street Analyst Weigh In

CRK has been the topic of several recent analyst reports. Zacks Research raised shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Bank of America downgraded shares of Comstock Resources from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $27.00 to $24.00 in a research report on Friday, January 16th. UBS Group set a $17.00 price target on shares of Comstock Resources in a research report on Friday, February 13th. Mizuho boosted their price objective on Comstock Resources from $21.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Citigroup restated a “neutral” rating and set a $25.00 price objective (up from $24.00) on shares of Comstock Resources in a research note on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $20.11.

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.