Disciplined Investors L.L.C. Makes New $2.03 Million Investment in Comstock Resources, Inc. (NYSE:CRK)

Disciplined Investors L.L.C. acquired a new stake in Comstock Resources, Inc. (NYSE:CRK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 101,435 shares of the oil and gas producer’s stock, valued at approximately $2,028,000. Comstock Resources makes up about 2.0% of Disciplined Investors L.L.C.’s holdings, making the stock its 16th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. VSM Wealth Advisory LLC acquired a new stake in Comstock Resources during the 4th quarter worth approximately $27,000. Sunbelt Securities Inc. increased its position in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 1,400 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 2,326 shares in the last quarter. KBC Group NV boosted its holdings in Comstock Resources by 46.8% in the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 2,066 shares during the period. Finally, Blue Trust Inc. grew its stake in Comstock Resources by 56.4% during the 4th quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer’s stock worth $191,000 after purchasing an additional 3,787 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Morgan Stanley reiterated a “cautious” rating and issued a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Williams Trading set a $13.00 price target on shares of Comstock Resources in a report on Wednesday, March 5th. Piper Sandler raised their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Finally, Citigroup boosted their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.73.

Comstock Resources Stock Performance

Shares of CRK stock opened at $21.49 on Thursday. The stock’s 50-day moving average is $18.98 and its two-hundred day moving average is $16.12. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $22.06. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of -28.28, a PEG ratio of 1.65 and a beta of 0.55.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. The company had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. Analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

About Comstock Resources

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.