SBI Securities Co. Ltd. Boosts Stake in Comstock Resources, Inc. $CRK

SBI Securities Co. Ltd. increased its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 17.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,170 shares of the oil and gas producer’s stock after buying an additional 2,076 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Comstock Resources were worth $392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRK. Invesco Ltd. lifted 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 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 purchasing an additional 437,476 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Comstock Resources by 195.8% in the second 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 last quarter. Woodline Partners LP purchased a new stake in Comstock Resources in the first quarter valued at approximately $8,719,000. Finally, Public Sector Pension Investment Board increased its holdings in Comstock Resources by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 287,298 shares of the oil and gas producer’s stock worth $5,844,000 after buying an additional 61,581 shares during the period. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

Comstock Resources stock opened at $25.28 on Friday. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of -105.31 and a beta of 0.24. Comstock Resources, Inc. has a 52-week low of $13.20 and a 52-week high of $31.17. The company has a fifty day simple moving average of $19.31 and a 200-day simple moving average of $20.82. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on CRK shares. Piper Sandler set a $9.00 price objective on shares of Comstock Resources and gave the company an “underweight” rating in a research note on Tuesday, October 21st. Morgan Stanley decreased their target price on shares of Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. Mizuho set a $21.00 price target on shares of Comstock Resources and gave the company a “neutral” rating in a report on Thursday, October 16th. Zacks Research upgraded Comstock Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Finally, UBS Group boosted their price objective on Comstock Resources from $14.00 to $16.00 and gave the company a “sell” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $19.70.

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.