K.J. Harrison & Partners Inc Takes Position in Comstock Resources, Inc. $CRK

K.J. Harrison & Partners Inc bought a new stake in shares of Comstock Resources, Inc. (NYSE:CRK) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 61,600 shares of the oil and gas producer’s stock, valued at approximately $1,299,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its position in Comstock Resources by 3.7% in the fourth quarter. State Street Corp now owns 4,483,203 shares of the oil and gas producer’s stock worth $103,921,000 after purchasing an additional 161,093 shares in the last quarter. Dragoneer Investment Group LLC acquired a new stake in Comstock Resources during the fourth quarter valued at approximately $99,632,000. Bank of America Corp DE boosted its holdings in Comstock Resources by 5.1% during the third quarter. Bank of America Corp DE now owns 1,948,702 shares of the oil and gas producer’s stock valued at $38,643,000 after purchasing an additional 94,856 shares in the last quarter. Woodline Partners LP grew its stake in shares of Comstock Resources by 50.5% in the 3rd quarter. Woodline Partners LP now owns 1,231,916 shares of the oil and gas producer’s stock valued at $24,429,000 after purchasing an additional 413,611 shares during the period. Finally, Aventail Capital Group LP grew its stake in shares of Comstock Resources by 149.9% in the 3rd quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock valued at $22,680,000 after purchasing an additional 686,002 shares during the period. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Up 0.0%

Shares of CRK opened at $14.69 on Friday. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 6.71 and a beta of 0.10. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.41. The business’s fifty day moving average price is $14.36 and its two-hundred day moving average price is $18.60. Comstock Resources, Inc. has a 52 week low of $12.44 and a 52 week high of $28.10.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The firm had revenue of $587.35 million for the quarter, compared to the consensus estimate of $554.01 million. Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, analysts predict that Comstock Resources, Inc. will post 0.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CRK shares. Weiss Ratings reissued a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. UBS Group reaffirmed a “sell” rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Mizuho lowered their price target on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Morgan Stanley set a $16.00 price objective on Comstock Resources and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, Williams Trading set a $16.00 price objective on Comstock Resources in a report on Thursday, May 14th. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Comstock Resources currently has an average rating of “Reduce” and an average price target of $16.00.

Comstock Resources Profile

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.