GSA Capital Partners LLP Makes New Investment in Comstock Resources, Inc. $CRK

GSA Capital Partners LLP bought a new stake in shares of Comstock Resources, Inc. (NYSE:CRK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 120,779 shares of the oil and gas producer’s stock, valued at approximately $2,395,000.

Several other large investors have also recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in shares of Comstock Resources during the 1st quarter worth approximately $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Comstock Resources by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock worth $1,124,000 after purchasing an additional 2,697 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Comstock Resources by 67.4% in 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 last quarter. Intech Investment Management LLC increased its position in shares of Comstock Resources by 26.0% during the first quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock worth $1,328,000 after purchasing an additional 13,485 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Comstock Resources during the 2nd quarter valued at $232,000. 36.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Citigroup reaffirmed a “neutral” rating and set a $25.00 target price (up from $24.00) on shares of Comstock Resources in a research report on Wednesday, January 14th. Zacks Research upgraded shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. UBS Group set a $17.00 price objective on shares of Comstock Resources in a report on Friday. Mizuho raised their target price on Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Finally, Bank of America lowered Comstock Resources from a “buy” rating to a “neutral” rating and dropped their target price for the company from $27.00 to $24.00 in a research report on Friday, January 16th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $20.11.

Comstock Resources Stock Down 0.7%

CRK opened at $19.04 on Tuesday. The company has a fifty day moving average of $22.24 and a two-hundred day moving average of $20.40. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 13.51 and a beta of 0.39. Comstock Resources, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $31.17. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.41 and a current ratio of 0.49.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Comstock Resources had a net margin of 17.80% and a return on equity of 6.30%. The business had revenue of $789.81 million for the quarter, compared to analyst estimates of $504.66 million. During the same period in the prior year, the company posted $0.16 EPS. The company’s revenue for the quarter was up 115.5% on a year-over-year basis. On average, research analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

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.