Graham Capital Management L.P. Raises Holdings in Comstock Resources, Inc. $CRK

Graham Capital Management L.P. lifted its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 122.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 155,391 shares of the oil and gas producer’s stock after acquiring an additional 85,389 shares during the period. Graham Capital Management L.P.’s holdings in Comstock Resources were worth $3,602,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rothschild Investment LLC grew its stake in shares of Comstock Resources by 740.4% during the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 1,007 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Comstock Resources during the third quarter worth about $27,000. Jones Financial Companies Lllp grew its stake in shares of Comstock Resources by 671.2% during the third quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 1,376 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Comstock Resources by 877.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 1,290 shares during the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Comstock Resources during the third quarter worth about $38,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Wall Street Analysts Forecast Growth

CRK has been the topic of a number of research analyst reports. Williams Trading set a $16.00 price target on Comstock Resources in a research note on Thursday, May 14th. Morgan Stanley decreased their target price on Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, May 22nd. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a report on Wednesday, April 15th. Finally, UBS Group reaffirmed a “sell” rating and set a $13.00 target price (down from $17.00) on shares of Comstock Resources in a report on Monday, May 11th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $17.00.

Comstock Resources Trading Up 2.3%

Comstock Resources stock opened at $13.35 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. Comstock Resources, Inc. has a 52 week low of $12.44 and a 52 week high of $31.17. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 6.10 and a beta of 0.13. The stock has a 50-day moving average price of $15.28 and a 200 day moving average price of $19.57.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The firm had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.02 million. During the same period last year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Comstock Resources, Inc. will post 0.56 EPS for the current year.

Comstock Resources Company 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.