Comstock Resources, Inc. $CRK Stake Raised by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in Comstock Resources, Inc. (NYSE:CRK) by 249.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,391 shares of the oil and gas producer’s stock after buying an additional 84,500 shares during the quarter. SG Americas Securities LLC’s holdings in Comstock Resources were worth $3,276,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in Comstock Resources by 79.9% during the 1st quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer’s stock worth $23,507,000 after acquiring an additional 513,190 shares during the period. Goldman Sachs Group Inc. lifted 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 period. Woodline Partners LP bought a new position in Comstock Resources in the 1st quarter valued at about $8,719,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Comstock Resources by 195.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 588,033 shares of the oil and gas producer’s stock valued at $16,271,000 after buying an additional 389,261 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Comstock Resources during the 1st quarter worth about $5,127,000. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

NYSE CRK opened at $24.95 on Wednesday. Comstock Resources, Inc. has a 1 year low of $13.55 and a 1 year high of $31.17. The business’s fifty day moving average is $19.68 and its two-hundred day moving average is $20.92. The stock has a market capitalization of $7.31 billion, a P/E ratio of -103.97 and a beta of 0.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.36 and a current ratio of 0.36.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $449.85 million during the quarter, compared to analyst estimates of $433.54 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The company’s revenue was up 47.8% compared to the same quarter last year. During the same period last year, the company posted ($0.17) EPS. On average, research analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CRK shares. Piper Sandler decreased their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday. UBS Group increased their price target on Comstock Resources from $14.00 to $16.00 and gave the company a “sell” rating in a research note on Thursday, November 6th. Mizuho set a $21.00 price objective on Comstock Resources and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Comstock Resources in a report on Thursday, November 13th. Finally, Zacks Research raised Comstock Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Comstock Resources has an average rating of “Reduce” and an average target price of $19.60.

Comstock Resources Company 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.