Goldman Sachs Group Inc. purchased a new stake in shares of Comstock Resources, Inc. (NYSE:CRK) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 166,389 shares of the oil and gas producer’s stock, valued at approximately $1,536,000. Goldman Sachs Group Inc. owned approximately 1.10% of Comstock Resources at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in CRK. Paloma Partners Management Co bought a new stake in Comstock Resources during the first quarter valued at approximately $998,000. Segantii Capital Management Ltd bought a new stake in Comstock Resources during the first quarter valued at approximately $148,000. Hotchkis & Wiley Capital Management LLC bought a new stake in Comstock Resources during the first quarter valued at approximately $731,000. SG Americas Securities LLC bought a new stake in Comstock Resources during the first quarter valued at approximately $176,000. Finally, Hodges Capital Management Inc. boosted its stake in Comstock Resources by 23.1% in the first quarter. Hodges Capital Management Inc. now owns 1,496,062 shares of the oil and gas producer’s stock valued at $13,809,000 after buying an additional 280,613 shares during the period. 49.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Comstock Resources, Inc. (CRK) opened at 6.08 on Friday. The firm has a 50-day moving average of $6.76 and a 200 day moving average of $8.26. Comstock Resources, Inc. has a 12-month low of $5.25 and a 12-month high of $13.42. The firm’s market capitalization is $94.11 million.
Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Monday, August 7th. The oil and gas producer reported ($1.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.67) by $0.60. The business had revenue of $61.47 million for the quarter, compared to analyst estimates of $63.93 million. During the same quarter in the previous year, the company posted $0.41 EPS. On average, equities research analysts expect that Comstock Resources, Inc. will post ($5.18) earnings per share for the current year.
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Several analysts have recently commented on the stock. ValuEngine cut shares of Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday. Stifel Nicolaus set a $12.00 price objective on shares of Comstock Resources and gave the company a “buy” rating in a research note on Monday, August 14th. Capital One Financial Corporation reaffirmed an “underweight” rating on shares of Comstock Resources in a research note on Monday, August 7th. Finally, Zacks Investment Research cut shares of Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.21.
Comstock Resources Company Profile
Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.
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