Empowered Funds LLC Buys New Position in Comstock Resources, Inc. $CRK

by · The Cerbat Gem

Empowered Funds LLC bought a new position in shares of Comstock Resources, Inc. (NYSE:CRK – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 122,868 shares of the oil and gas producer’s stock, valued at approximately $1,833,000.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in shares of Comstock Resources during the 1st quarter worth approximately $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Comstock Resources by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock worth $1,124,000 after buying an additional 2,697 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Comstock Resources by 67.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock worth $22,107,000 after buying an additional 437,476 shares during the period. Intech Investment Management LLC increased its stake in shares of Comstock Resources by 26.0% in the 1st quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock valued at $1,328,000 after acquiring an additional 13,485 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Comstock Resources in the 2nd quarter valued at $93,000. 36.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRK. Cantor Fitzgerald reiterated a “neutral” rating on shares of Comstock Resources in a research report on Wednesday. Zacks Research cut shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $17.00 price target (up from $13.00) on shares of Comstock Resources in a research note on Wednesday. UBS Group reiterated a “sell” rating on shares of Comstock Resources in a report on Wednesday. Finally, Wall Street Zen cut shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 29th. Eight research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $15.80.

View Our Latest Stock Analysis on Comstock Resources

Comstock Resources Trading Down 3.9%

Shares of Comstock Resources stock opened at $14.94 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 0.48. Comstock Resources, Inc. has a 52 week low of $12.12 and a 52 week high of $28.10. The stock has a 50 day moving average price of $13.84 and a two-hundred day moving average price of $15.93. The stock has a market capitalization of $4.39 billion, a PE ratio of 8.39 and a beta of 0.14.

Comstock Resources (NYSE:CRK – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Comstock Resources had a return on equity of 4.12% and a net margin of 23.31%.The firm had revenue of $353.28 million during the quarter, compared to the consensus estimate of $419.22 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s quarterly revenue was down 24.9% on a year-over-year basis. As a group, equities analysts anticipate that Comstock Resources, Inc. will post 0.4 earnings per share for the current fiscal year.

Comstock Resources Profile

(Free Report)

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.

See Also

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