Quantbot Technologies LP Makes New $2.77 Million Investment in Comstock Resources, Inc. $CRK

Quantbot Technologies LP purchased a new position in shares of Comstock Resources, Inc. (NYSE:CRK) in the first quarter, Holdings Channel reports. The fund purchased 136,216 shares of the oil and gas producer’s stock, valued at approximately $2,771,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund boosted its position in Comstock Resources by 1.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer’s stock worth $917,000 after acquiring an additional 550 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Comstock Resources by 17.6% in the first quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer’s stock valued at $138,000 after buying an additional 1,017 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Comstock Resources by 11.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,599 shares of the oil and gas producer’s stock valued at $236,000 after buying an additional 1,145 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Comstock Resources by 129.3% in the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 1,170 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Comstock Resources by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer’s stock valued at $957,000 after buying an additional 1,793 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRK. Wolfe Research upgraded Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a report on Tuesday, June 17th. Mizuho upped their price objective on Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Citigroup restated a “neutral” rating and issued a $27.00 price objective (up previously from $22.00) on shares of Comstock Resources in a report on Friday, June 13th. Roth Capital lowered Comstock Resources from a “neutral” rating to a “sell” rating and cut their price objective for the company from $18.00 to $12.00 in a report on Monday. Finally, Wall Street Zen upgraded Comstock Resources to a “sell” rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $18.25.

Comstock Resources Stock Up 1.5%

Shares of Comstock Resources stock opened at $15.4150 on Thursday. The stock’s fifty day moving average is $22.13 and its 200-day moving average is $20.89. The firm has a market capitalization of $4.52 billion, a PE ratio of -64.23 and a beta of 0.28. 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, Inc. has a 12-month low of $9.09 and a 12-month high of $31.17.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $470.26 million for the quarter, compared to analyst estimates of $431.82 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.Comstock Resources’s revenue for the quarter was up 90.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.20) earnings per share. Equities analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

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.