Numerai GP LLC Takes Position in Comstock Resources, Inc. (NYSE:CRK)

Numerai GP LLC bought a new position in Comstock Resources, Inc. (NYSE:CRK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 86,829 shares of the oil and gas producer’s stock, valued at approximately $1,582,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRK. VSM Wealth Advisory LLC acquired a new stake in Comstock Resources during the fourth quarter worth about $27,000. Sterling Capital Management LLC increased its position in Comstock Resources by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Comstock Resources by 225.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 2,326 shares in the last quarter. Quarry LP purchased a new position in Comstock Resources in the fourth quarter valued at approximately $70,000. Finally, KBC Group NV lifted its position in Comstock Resources by 46.8% during the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 2,066 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Wall Street Analysts Forecast Growth

CRK has been the subject of several recent research reports. UBS Group assumed coverage on shares of Comstock Resources in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $19.00 price objective for the company. Mizuho upped their price target on shares of Comstock Resources from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday. StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. Morgan Stanley restated a “cautious” rating and set a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Finally, Williams Trading set a $13.00 target price on Comstock Resources in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.77.

Comstock Resources Stock Up 3.6%

Shares of Comstock Resources stock opened at $23.65 on Wednesday. Comstock Resources, Inc. has a 1-year low of $7.74 and a 1-year high of $24.13. The company has a market capitalization of $6.93 billion, a PE ratio of -31.12, a P/E/G ratio of 1.65 and a beta of 0.14. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The business has a 50-day moving average of $19.54 and a 200-day moving average of $17.87.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $512.85 million during the quarter, compared to the consensus estimate of $408.99 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. Comstock Resources’s revenue for the quarter was up 52.7% on a year-over-year basis. As a group, equities analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

About Comstock Resources

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.