GSA Capital Partners LLP Invests $2.03 Million in Comstock Resources, Inc. $CRK

GSA Capital Partners LLP purchased a new position in shares of Comstock Resources, Inc. (NYSE:CRK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 135,905 shares of the oil and gas producer’s stock, valued at approximately $2,028,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Liontrust Investment Partners LLP increased its stake in Comstock Resources by 877.8% in the 1st quarter. Liontrust Investment Partners LLP now owns 128,938 shares of the oil and gas producer’s stock valued at $2,718,000 after buying an additional 115,752 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Comstock Resources during the 1st quarter valued at $2,780,000. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Comstock Resources by 34.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 861,858 shares of the oil and gas producer’s stock valued at $18,168,000 after buying an additional 222,569 shares during the period. Fiduciary Alliance LLC grew its holdings in shares of Comstock Resources by 254.2% during the 1st quarter. Fiduciary Alliance LLC now owns 160,675 shares of the oil and gas producer’s stock valued at $3,387,000 after acquiring an additional 115,313 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Comstock Resources by 143.2% during the 1st quarter. First Trust Advisors LP now owns 1,079,633 shares of the oil and gas producer’s stock valued at $22,759,000 after acquiring an additional 635,781 shares in the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Performance

CRK stock opened at $14.05 on Friday. The firm has a 50 day moving average of $13.52 and a two-hundred day moving average of $16.69. Comstock Resources, Inc. has a 12 month low of $12.12 and a 12 month high of $28.10. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 7.90 and a beta of 0.13. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.98.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Comstock Resources had a net margin of 23.31% and a return on equity of 4.12%. The business had revenue of $353.28 million for the quarter, compared to the consensus estimate of $419.22 million. During the same quarter last year, the firm earned $0.13 EPS. Comstock Resources’s revenue for the quarter was down 24.9% on a year-over-year basis. As a group, equities analysts anticipate that Comstock Resources, Inc. will post 0.48 EPS for the current fiscal year.

Analyst Ratings Changes

CRK has been the subject of several recent research reports. Wall Street Zen lowered Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Sunday, August 9th. Zacks Research downgraded Comstock Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. UBS Group reaffirmed a “sell” rating and issued a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Citigroup cut their price target on Comstock Resources from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. Six research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $15.00.

About Comstock Resources

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.