Great Hill Capital LLC Makes New $4.08 Million Investment in Comstock Resources, Inc. $CRK

Great Hill Capital LLC purchased a new stake in Comstock Resources, Inc. (NYSE:CRK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 205,499 shares of the oil and gas producer’s stock, valued at approximately $4,075,000. Comstock Resources accounts for 0.6% of Great Hill Capital LLC’s holdings, making the stock its 18th biggest position. Great Hill Capital LLC owned approximately 0.07% of Comstock Resources at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Uhlmann Price Securities LLC boosted its position in shares of Comstock Resources by 2.4% in the third quarter. Uhlmann Price Securities LLC now owns 27,653 shares of the oil and gas producer’s stock worth $548,000 after acquiring an additional 650 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Comstock Resources by 1.7% during the third quarter. Illinois Municipal Retirement Fund now owns 48,276 shares of the oil and gas producer’s stock worth $957,000 after purchasing an additional 821 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Comstock Resources by 39.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,085 shares of the oil and gas producer’s stock valued at $62,000 after purchasing an additional 868 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Comstock Resources by 19.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,633 shares of the oil and gas producer’s stock valued at $112,000 after purchasing an additional 900 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Comstock Resources during the 2nd quarter valued at $29,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CRK shares. Zacks Research raised Comstock Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Comstock Resources in a research note on Monday, December 29th. Citigroup reaffirmed a “neutral” rating and issued a $25.00 price objective (up from $24.00) on shares of Comstock Resources in a research note on Wednesday, January 14th. UBS Group set a $17.00 target price on Comstock Resources in a report on Friday, February 13th. Finally, Piper Sandler cut their price target on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, November 18th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $20.11.

Comstock Resources Stock Performance

Shares of NYSE:CRK opened at $18.40 on Thursday. The company has a market cap of $5.41 billion, a P/E ratio of 13.05 and a beta of 0.39. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.49. Comstock Resources, Inc. has a one year low of $14.65 and a one year high of $31.17. The business’s 50-day simple moving average is $21.77 and its 200 day simple moving average is $20.51.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $787.32 million during the quarter, compared to analysts’ expectations of $504.66 million. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.Comstock Resources’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. On average, sell-side analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Comstock Resources Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.