Carlson Capital L P Invests $186,000 in Comstock Resources, Inc. (NYSE:CRK)

Carlson Capital L P bought a new position in shares of Comstock Resources, Inc. (NYSE:CRK) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 20,000 shares of the oil and gas producer’s stock, valued at approximately $186,000.

Several other hedge funds have also modified their holdings of the business. ProShare Advisors LLC boosted its holdings in Comstock Resources by 7.4% during the first quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock worth $172,000 after buying an additional 1,276 shares in the last quarter. Outfitter Financial LLC grew its holdings in shares of Comstock Resources by 5.0% in the 4th quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer’s stock worth $304,000 after acquiring an additional 1,630 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Comstock Resources by 5.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock valued at $366,000 after purchasing an additional 2,310 shares in the last quarter. SG Americas Securities LLC increased its stake in Comstock Resources by 4.6% in the 4th quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock valued at $477,000 after purchasing an additional 2,389 shares in the last quarter. Finally, Pittenger & Anderson Inc. raised its holdings in Comstock Resources by 25.0% during the fourth quarter. Pittenger & Anderson Inc. now owns 12,500 shares of the oil and gas producer’s stock worth $111,000 after purchasing an additional 2,500 shares during the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Trading Up 3.8 %

NYSE:CRK traded up $0.38 during mid-day trading on Friday, reaching $10.43. The company’s stock had a trading volume of 2,331,484 shares, compared to its average volume of 3,882,073. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $13.39. The company’s fifty day simple moving average is $10.93 and its two-hundred day simple moving average is $9.53. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $3.05 billion, a P/E ratio of 46.59 and a beta of 0.51.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The company had revenue of $335.77 million for the quarter, compared to analyst estimates of $343.97 million. During the same quarter last year, the business earned $0.33 EPS. Comstock Resources’s revenue for the quarter was down 31.4% on a year-over-year basis. On average, equities analysts predict that Comstock Resources, Inc. will post -0.13 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Capital One Financial lowered Comstock Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. KeyCorp initiated coverage on shares of Comstock Resources in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. Truist Financial lifted their price objective on Comstock Resources from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Monday. The Goldman Sachs Group boosted their price target on Comstock Resources from $9.00 to $10.00 and gave the stock a “sell” rating in a report on Tuesday, May 28th. Finally, Mizuho upped their price objective on Comstock Resources from $10.00 to $11.00 and gave the company an “underperform” rating in a research report on Monday, May 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.25.

Comstock Resources Company Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.