Quantbot Technologies LP Grows Stock Holdings in Comstock Resources, Inc. $CRK

Quantbot Technologies LP lifted its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 75.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,545 shares of the oil and gas producer’s stock after purchasing an additional 103,329 shares during the period. Quantbot Technologies LP owned 0.08% of Comstock Resources worth $6,628,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CRK. Legacy Investment Solutions LLC bought a new position in Comstock Resources during the 2nd quarter valued at approximately $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of Comstock Resources in the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Comstock Resources during the second quarter valued at approximately $69,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Comstock Resources during the second quarter valued at approximately $93,000. Finally, State of Wyoming purchased a new stake in Comstock Resources in the first quarter worth $126,000. 36.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRK has been the topic of a number of research analyst reports. Mizuho set a $21.00 price objective on shares of Comstock Resources and gave the company a “neutral” rating in a research report on Thursday, October 16th. Piper Sandler cut their target price on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday. UBS Group raised their price objective on shares of Comstock Resources from $14.00 to $16.00 and gave the stock a “sell” rating in a report on Thursday, November 6th. Finally, Roth Capital cut Comstock Resources from a “neutral” rating to a “sell” rating and cut their price objective for the company from $18.00 to $12.00 in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $19.60.

Comstock Resources Stock Down 4.2%

Shares of Comstock Resources stock opened at $25.38 on Wednesday. Comstock Resources, Inc. has a 1 year low of $14.09 and a 1 year high of $31.17. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 101.50 and a beta of 0.33. The company has a 50-day moving average of $21.35 and a 200 day moving average of $21.08. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.41 and a quick ratio of 0.41.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Comstock Resources had a net margin of 3.14% and a return on equity of 6.71%. The business had revenue of $449.85 million for the quarter, compared to analyst estimates of $433.54 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Comstock Resources’s quarterly revenue was up 47.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Comstock Resources 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.