Rahlfs Capital LLC Takes $1.14 Million Position in Comstock Resources, Inc. $CRK

Rahlfs Capital LLC acquired a new stake in Comstock Resources, Inc. (NYSE:CRK) in the 4th quarter, Holdings Channel.com reports. The fund acquired 49,350 shares of the oil and gas producer’s stock, valued at approximately $1,144,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Great Hill Capital LLC acquired a new position in shares of Comstock Resources in the third quarter valued at approximately $4,075,000. Federated Hermes Inc. increased its stake in shares of Comstock Resources by 10,032.7% in the third quarter. Federated Hermes Inc. now owns 359,307 shares of the oil and gas producer’s stock valued at $7,125,000 after buying an additional 355,761 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Comstock Resources in the third quarter valued at approximately $2,395,000. LSP Investment Advisors LLC boosted its holdings in Comstock Resources by 33.9% in the third quarter. LSP Investment Advisors LLC now owns 378,900 shares of the oil and gas producer’s stock valued at $7,514,000 after acquiring an additional 95,900 shares during the last quarter. Finally, Aventail Capital Group LP boosted its holdings in Comstock Resources by 149.9% in the third 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 acquiring an additional 686,002 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Performance

Shares of CRK stock opened at $14.86 on Friday. The business’s 50 day simple moving average is $18.52 and its 200 day simple moving average is $20.96. Comstock Resources, Inc. has a one year low of $14.10 and a one year high of $31.17. The stock has a market capitalization of $4.36 billion, a PE ratio of 6.78 and a beta of 0.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The business had revenue of $587.35 million for the quarter, compared to the consensus estimate of $554.02 million. Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.Comstock Resources’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. As a group, research analysts forecast that Comstock Resources, Inc. will post 0.75 earnings per share for the current year.

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 stock was sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the completion of the sale, the vice president owned 187,516 shares in the company, valued at $3,975,339.20. The trade was a 20.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRK has been the topic of several analyst reports. Wall Street Zen cut Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Morgan Stanley set a $19.00 target price on Comstock Resources in a report on Friday, February 13th. Citigroup reiterated a “neutral” rating on shares of Comstock Resources in a report on Wednesday, April 15th. Bank of America cut Comstock Resources from a “buy” rating to a “neutral” rating and reduced their target price for the company from $27.00 to $24.00 in a report on Friday, January 16th. Finally, UBS Group reiterated a “sell” rating and issued a $13.00 target price (down from $17.00) on shares of Comstock Resources in a report on Monday. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $19.89.

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.