Ewa LLC Purchases New Holdings in Comstock Resources, Inc. (NYSE:CRK)

Ewa LLC purchased a new stake in Comstock Resources, Inc. (NYSE:CRK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,737 shares of the oil and gas producer’s stock, valued at approximately $139,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $10,173,000 after purchasing an additional 60,830 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in 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 buying an additional 301,863 shares during the last quarter. Barclays PLC lifted its holdings in shares of Comstock Resources by 139.7% in the 3rd quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock worth $3,600,000 after purchasing an additional 190,254 shares during the last quarter. KGH Ltd lifted its holdings 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 during the last quarter. Finally, Wealthsource Partners LLC bought a new stake in shares of Comstock Resources in the 4th quarter worth approximately $134,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. The Goldman Sachs Group raised their price target on Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Tuesday, April 2nd. Piper Sandler cut their price target on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th. Stifel Nicolaus cut their price target on Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Finally, StockNews.com upgraded Comstock Resources to a “sell” rating in a research report on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.75.

Comstock Resources Stock Performance

CRK traded up $0.11 during trading hours on Monday, hitting $10.43. The company’s stock had a trading volume of 1,272,260 shares, compared to its average volume of 4,523,963. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $13.39. The firm has a market capitalization of $2.90 billion, a PE ratio of 13.58 and a beta of 0.70. The company has a 50-day simple moving average of $8.83 and a 200 day simple moving average of $9.41. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share (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 firm had revenue of $410.58 million for the quarter, compared to analyst estimates of $401.97 million. During the same quarter last year, the business posted $1.05 earnings per share. The firm’s revenue for the quarter was down 55.5% compared to the same quarter last year. As a group, sell-side analysts expect that Comstock Resources, Inc. will post -0.06 EPS for the current year.

Insider Activity

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

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.