OMERS ADMINISTRATION Corp Invests $1.43 Million in Comstock Resources, Inc. $CRK

OMERS ADMINISTRATION Corp bought a new position in shares of Comstock Resources, Inc. (NYSE:CRK) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 70,300 shares of the oil and gas producer’s stock, valued at approximately $1,430,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CreativeOne Wealth LLC bought a new stake in shares of Comstock Resources during the first quarter worth about $243,000. CW Advisors LLC bought a new stake in Comstock Resources in the 1st quarter worth about $943,000. Quantbot Technologies LP purchased a new stake in Comstock Resources in the 1st quarter valued at about $2,771,000. Informed Momentum Co LLC bought a new position in shares of Comstock Resources during the 1st quarter worth approximately $3,173,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Comstock Resources by 27.3% during 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 in the last quarter. 36.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRK has been the topic of several recent analyst reports. Bank of America lifted their target price on shares of Comstock Resources from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Wolfe Research raised shares of Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Tuesday, June 17th. Mizuho lifted their target price on shares of Comstock Resources from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. UBS Group dropped their target price on shares of Comstock Resources from $18.00 to $14.00 and set a “sell” rating on the stock in a research report on Wednesday, August 20th. Finally, Piper Sandler dropped their target price on shares of Comstock Resources from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $18.25.

Comstock Resources Price Performance

Comstock Resources stock opened at $16.11 on Monday. Comstock Resources, Inc. has a 12 month low of $9.09 and a 12 month high of $31.17. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.24. The business’s 50 day simple moving average is $20.38 and its 200 day simple moving average is $20.81. The company has a market cap of $4.72 billion, a price-to-earnings ratio of -67.10 and a beta of 0.27.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The business had revenue of $470.26 million for the quarter, compared to the consensus estimate of $431.82 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Comstock Resources’s revenue for the quarter was up 90.5% on a year-over-year basis. Sell-side analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current year.

About Comstock Resources

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.