Renaissance Technologies LLC Purchases New Position in Comstock Resources, Inc. $CRK

Renaissance Technologies LLC acquired a new position in Comstock Resources, Inc. (NYSE:CRK) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 131,900 shares of the oil and gas producer’s stock, valued at approximately $2,780,000.

A number of other hedge funds have also bought and sold shares of CRK. CreativeOne Wealth LLC raised its holdings in Comstock Resources by 3.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock valued at $276,000 after acquiring an additional 500 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Comstock Resources by 2.0% in the fourth quarter. Natixis Advisors LLC now owns 29,703 shares of the oil and gas producer’s stock worth $689,000 after acquiring an additional 572 shares during the period. Carrera Capital Advisors boosted its holdings in shares of Comstock Resources by 0.7% in the fourth quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer’s stock worth $1,922,000 after acquiring an additional 606 shares during the period. Farther Finance Advisors LLC grew its position in shares of Comstock Resources by 14.2% in the fourth quarter. Farther Finance Advisors LLC now owns 6,435 shares of the oil and gas producer’s stock valued at $149,000 after purchasing an additional 802 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Comstock Resources by 27.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,942 shares of the oil and gas producer’s stock valued at $94,000 after purchasing an additional 857 shares in the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Trading Up 0.3%

Shares of CRK stock opened at $13.45 on Monday. The company has a market capitalization of $3.95 billion, a PE ratio of 7.55 and a beta of 0.13. Comstock Resources, Inc. has a 52-week low of $12.12 and a 52-week high of $28.10. The business’s fifty day moving average is $13.45 and its 200 day moving average is $16.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 0.48.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $353.28 million during the quarter, compared to analysts’ expectations of $419.22 million. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The firm’s revenue was down 24.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 earnings per share. On average, equities research analysts anticipate that Comstock Resources, Inc. will post 0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Williams Trading set a $16.00 price objective on Comstock Resources in a report on Thursday, May 14th. Morgan Stanley set a $16.00 target price on Comstock Resources and gave the company an “equal weight” rating in a report on Monday, June 29th. Mizuho decreased their price target on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. The Goldman Sachs Group decreased their price target on Comstock Resources from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. Six investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $15.22.

Comstock Resources Company 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.