Comstock Resources, Inc. $CRK Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC increased its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 1,691.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,920 shares of the oil and gas producer’s stock after purchasing an additional 67,905 shares during the quarter. NewEdge Advisors LLC’s holdings in Comstock Resources were worth $1,516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in shares of Comstock Resources in the 1st quarter worth $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Comstock Resources by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock valued at $1,124,000 after purchasing an additional 2,697 shares during the period. Goldman Sachs Group Inc. lifted its position 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 valued at $22,107,000 after purchasing an additional 437,476 shares during the period. Intech Investment Management LLC boosted its holdings in Comstock Resources by 26.0% in the 1st quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock valued at $1,328,000 after purchasing an additional 13,485 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Comstock Resources during the 2nd quarter worth approximately $93,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Trading Down 0.0%

NYSE:CRK opened at $14.05 on Monday. Comstock Resources, Inc. has a 52-week low of $12.12 and a 52-week high of $28.10. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $13.52 and a 200-day simple moving average of $16.63. The company has a market capitalization of $4.13 billion, a PE ratio of 7.90 and a beta of 0.13.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $353.28 million for the quarter, compared to analysts’ expectations of $419.22 million. Comstock Resources had a net margin of 23.31% and a return on equity of 4.12%. The firm’s revenue was down 24.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. On average, equities research analysts expect that Comstock Resources, Inc. will post 0.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRK has been the topic of a number of analyst reports. Williams Trading set a $16.00 price target on Comstock Resources in a research note on Thursday, May 14th. Citigroup decreased their target price on shares of Comstock Resources from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. Roth Capital reiterated a “neutral” rating on shares of Comstock Resources in a report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday, May 20th. Finally, Mizuho set a $19.00 target price on shares of Comstock Resources in a research report on Monday, August 10th. Six investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Comstock Resources has an average rating of “Reduce” and a consensus target price of $15.00.

Comstock Resources Company 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.