Glenorchy Capital Ltd Buys 8,263 Shares of Comstock Resources, Inc. (NYSE:CRK)

Glenorchy Capital Ltd boosted its stake in Comstock Resources, Inc. (NYSE:CRK) by 4.2% in the fourth quarter, Holdings Channel reports. The firm owned 205,976 shares of the oil and gas producer’s stock after purchasing an additional 8,263 shares during the quarter. Comstock Resources accounts for about 2.2% of Glenorchy Capital Ltd’s investment portfolio, making the stock its 15th largest position. Glenorchy Capital Ltd’s holdings in Comstock Resources were worth $3,753,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new position in shares of Comstock Resources in the 4th quarter valued at approximately $27,000. Sterling Capital Management LLC increased its stake in Comstock Resources by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 2,631 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 2,326 shares during the last quarter. Quarry LP acquired a new position in Comstock Resources during the fourth quarter valued at approximately $70,000. Finally, KBC Group NV lifted its stake in Comstock Resources by 46.8% during the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after purchasing an additional 2,066 shares during the last quarter. Institutional investors own 36.13% of the company’s stock.

Analyst Ratings Changes

CRK has been the topic of several recent analyst reports. Williams Trading set a $13.00 price target on Comstock Resources in a research note on Wednesday, March 5th. Piper Sandler boosted their target price on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Truist Financial raised their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Morgan Stanley reiterated a “cautious” rating and set a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Finally, StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research report on Thursday. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Comstock Resources currently has a consensus rating of “Hold” and an average target price of $14.23.

Comstock Resources Stock Performance

Shares of Comstock Resources stock opened at $23.33 on Friday. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -30.70, a P/E/G ratio of 1.65 and a beta of 0.14. Comstock Resources, Inc. has a twelve month low of $7.74 and a twelve month high of $23.38. The company’s fifty day moving average is $19.33 and its 200 day moving average is $17.67. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The business’s revenue was up 52.7% on a year-over-year basis. Sell-side analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current year.

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.