Qsemble Capital Management LP Buys Shares of 19,929 Comstock Resources, Inc. (NYSE:CRK)

Qsemble Capital Management LP bought a new stake in Comstock Resources, Inc. (NYSE:CRK) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,929 shares of the oil and gas producer’s stock, valued at approximately $185,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Comstock Resources by 428.9% during the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 3,869 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Comstock Resources by 2,161.0% during the first quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 4,711 shares during the last quarter. Forum Financial Management LP bought a new stake in shares of Comstock Resources during the fourth quarter worth about $90,000. Headlands Technologies LLC bought a new stake in shares of Comstock Resources during the first quarter worth about $91,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Comstock Resources during the fourth quarter worth about $97,000. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Trading Up 0.3 %

Shares of Comstock Resources stock traded up $0.03 during midday trading on Tuesday, reaching $10.46. The company had a trading volume of 3,511,081 shares, compared to its average volume of 3,944,607. The stock has a fifty day moving average price of $10.95 and a 200 day moving average price of $9.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $3.06 billion, a PE ratio of 47.41 and a beta of 0.51. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $13.39.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.05. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The firm had revenue of $335.77 million for the quarter, compared to analyst estimates of $343.97 million. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue was down 31.4% compared to the same quarter last year. On average, equities analysts anticipate that Comstock Resources, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRK. Stifel Nicolaus reduced their price target on Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Monday, April 29th. Capital One Financial cut Comstock Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. Mizuho lifted their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock an “underperform” rating in a research note on Monday, May 13th. Finally, The Goldman Sachs Group lifted their price objective on Comstock Resources from $9.00 to $10.00 and gave the stock a “sell” rating in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.25.

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.