Glenorchy Capital Ltd Acquires Shares of 53,309 Comstock Resources, Inc. (NYSE:CRK)

Glenorchy Capital Ltd bought a new stake in Comstock Resources, Inc. (NYSE:CRK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 53,309 shares of the oil and gas producer’s stock, valued at approximately $472,000.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Comstock Resources by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 922,263 shares of the oil and gas producer’s stock worth $10,173,000 after purchasing an additional 60,830 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Comstock Resources by 280.7% during the 3rd quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock worth $4,556,000 after acquiring an additional 301,863 shares during the last quarter. Barclays PLC grew its position in shares of Comstock Resources by 139.7% during the 3rd quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock valued at $3,600,000 after acquiring an additional 190,254 shares during the period. KGH Ltd increased its stake in shares of Comstock Resources by 119.3% in the 3rd quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after purchasing an additional 4,670,959 shares in the last quarter. Finally, Wealthsource Partners LLC bought a new position in Comstock Resources in the 4th quarter worth $134,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Up 0.4 %

NYSE:CRK traded up $0.04 during midday trading on Tuesday, reaching $9.77. 3,050,267 shares of the stock traded hands, compared to its average volume of 4,611,914. The business has a 50-day moving average of $8.62 and a two-hundred day moving average of $9.47. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.68 and a current ratio of 0.68. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $13.39. The stock has a market capitalization of $2.72 billion, a PE ratio of 12.87 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The company had revenue of $410.58 million during the quarter, compared to analysts’ expectations of $401.97 million. During the same period in the previous year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was down 55.5% compared to the same quarter last year. On average, equities analysts forecast that Comstock Resources, Inc. will post 0.06 earnings per share for the current fiscal year.

Insider Activity at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were acquired at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the purchase, the insider now owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRK. Stifel Nicolaus reduced their price target on Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research report on Tuesday. Pickering Energy Partners upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Mizuho lowered their price target on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a report on Monday, April 15th. The Goldman Sachs Group increased their price objective on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, April 2nd. Finally, Piper Sandler decreased their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.75.

Comstock Resources 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.