Comstock Resources, Inc. $CRK Shares Acquired by Liontrust Investment Partners LLP

Liontrust Investment Partners LLP grew its stake in Comstock Resources, Inc. (NYSE:CRK) by 877.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 128,938 shares of the oil and gas producer’s stock after acquiring an additional 115,752 shares during the period. Liontrust Investment Partners LLP’s holdings in Comstock Resources were worth $2,718,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in Comstock Resources by 3.7% in the 4th quarter. State Street Corp now owns 4,483,203 shares of the oil and gas producer’s stock valued at $103,921,000 after purchasing an additional 161,093 shares during the last quarter. Dragoneer Investment Group LLC purchased a new stake in Comstock Resources in the fourth quarter valued at approximately $99,632,000. Bank of America Corp DE lifted its stake in Comstock Resources by 5.1% during the third quarter. Bank of America Corp DE now owns 1,948,702 shares of the oil and gas producer’s stock worth $38,643,000 after purchasing an additional 94,856 shares in the last quarter. Woodline Partners LP lifted its stake in Comstock Resources by 50.5% during the third quarter. Woodline Partners LP now owns 1,231,916 shares of the oil and gas producer’s stock worth $24,429,000 after purchasing an additional 413,611 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Comstock Resources by 67.4% during 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 buying an additional 437,476 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CRK shares. The Goldman Sachs Group dropped their price objective on Comstock Resources from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Tuesday, June 30th. Zacks Research lowered Comstock Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. 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. Roth Capital reaffirmed a “neutral” rating on shares of Comstock Resources in a research report on Thursday. Finally, Wall Street Zen raised Comstock Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday. Six research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $15.22.

Comstock Resources Stock Performance

Shares of Comstock Resources stock opened at $13.22 on Friday. The business has a 50-day simple moving average of $13.47 and a 200-day simple moving average of $17.30. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 0.48. Comstock Resources, Inc. has a one year low of $12.12 and a one year high of $28.10. The company has a market cap of $3.88 billion, a PE ratio of 7.43 and a beta of 0.10.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Comstock Resources had a net margin of 23.31% and a return on equity of 4.12%. The firm had revenue of $353.28 million for the quarter, compared to analysts’ expectations of $419.22 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue was down 24.9% compared to the same quarter last year. On average, equities research analysts forecast that Comstock Resources, Inc. will post 0.5 EPS for the current fiscal year.

Comstock Resources 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.