SG Americas Securities LLC Acquires 306,410 Shares of Comstock Resources, Inc. $CRK

SG Americas Securities LLC increased its position in Comstock Resources, Inc. (NYSE:CRK) by 1,200.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 331,937 shares of the oil and gas producer’s stock after purchasing an additional 306,410 shares during the quarter. SG Americas Securities LLC’s holdings in Comstock Resources were worth $7,694,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Comstock Resources by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock worth $146,000 after purchasing an additional 679 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Comstock Resources by 31.4% in the third quarter. JPMorgan Chase & Co. now owns 177,326 shares of the oil and gas producer’s stock valued at $3,516,000 after acquiring an additional 42,416 shares during the period. Capital Square LLC increased its holdings in shares of Comstock Resources by 34.1% in the third quarter. Capital Square LLC now owns 20,580 shares of the oil and gas producer’s stock worth $408,000 after acquiring an additional 5,229 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Comstock Resources during the third quarter worth about $205,000. Finally, Advisory Services Network LLC bought a new position in shares of Comstock Resources during the 3rd quarter valued at about $27,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Patrick Mcgough sold 48,915 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $21.20, for a total value of $1,036,998.00. Following the completion of the sale, the vice president directly owned 187,516 shares in the company, valued at approximately $3,975,339.20. The trade was a 20.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CRK has been the topic of several analyst reports. UBS Group set a $17.00 price target on shares of Comstock Resources in a research report on Friday, February 13th. Bank of America lowered Comstock Resources from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $27.00 to $24.00 in a report on Friday, January 16th. Citigroup restated a “neutral” rating and issued a $25.00 price target (up from $24.00) on shares of Comstock Resources in a research note on Wednesday, January 14th. Wall Street Zen cut Comstock Resources from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Morgan Stanley set a $19.00 target price on shares of Comstock Resources in a report on Friday, February 13th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $21.00.

Comstock Resources Stock Performance

NYSE:CRK opened at $21.87 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.95. Comstock Resources, Inc. has a twelve month low of $14.65 and a twelve month high of $31.17. The company has a fifty day moving average of $21.08 and a 200-day moving average of $21.38. The firm has a market capitalization of $6.43 billion, a P/E ratio of 15.51 and a beta of 0.40.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. Comstock Resources had a net margin of 17.80% and a return on equity of 6.30%. The company had revenue of $787.32 million during the quarter, compared to the consensus estimate of $504.66 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was up 115.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current year.

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.