Graham Capital Management L.P. Purchases New Shares in Comstock Resources, Inc. (NYSE:CRK)

Graham Capital Management L.P. purchased a new stake in shares of Comstock Resources, Inc. (NYSE:CRK) during the 4th quarter, HoldingsChannel reports. The firm purchased 35,818 shares of the oil and gas producer’s stock, valued at approximately $653,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC acquired a new stake in Comstock Resources during the fourth quarter valued at $27,000. Sterling Capital Management LLC grew its position in Comstock Resources by 804.6% during 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 buying an additional 2,631 shares during the period. Smartleaf Asset Management LLC grew its position in Comstock Resources by 225.2% during 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 buying an additional 2,326 shares during the period. Quarry LP acquired a new stake in Comstock Resources during the fourth quarter valued at $70,000. Finally, KBC Group NV grew its position 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 valued at $118,000 after buying an additional 2,066 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Performance

CRK opened at $23.71 on Thursday. The firm has a market capitalization of $6.95 billion, a PE ratio of -31.20, a PEG 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 $24.13. The firm’s 50-day moving average price is $19.65 and its 200 day moving average price is $17.91. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Mizuho raised their price target on shares of Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday. Williams Trading set a $13.00 target price on shares of Comstock Resources in a research report on Wednesday, March 5th. UBS Group initiated coverage on shares of Comstock Resources in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $19.00 target price on the stock. Piper Sandler reiterated an “underweight” rating on shares of Comstock Resources in a research report on Tuesday. Finally, Morgan Stanley reiterated a “cautious” rating and issued a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.77.

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.