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

Disciplined Investors L.L.C. purchased a new stake in Comstock Resources, Inc. (NYSE:CRK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 101,435 shares of the oil and gas producer’s stock, valued at approximately $2,028,000. Comstock Resources makes up 2.0% of Disciplined Investors L.L.C.’s investment portfolio, making the stock its 16th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of CRK. Raymond James Financial Inc. purchased a new position in Comstock Resources during the fourth quarter valued at $11,891,000. Edgestream Partners L.P. acquired a new position in shares of Comstock Resources during the 4th quarter worth about $4,430,000. Vanguard Group Inc. lifted its stake in Comstock Resources by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer’s stock valued at $168,043,000 after buying an additional 126,380 shares in the last quarter. Weiss Asset Management LP purchased a new position in Comstock Resources in the 3rd quarter valued at about $1,263,000. Finally, Barclays PLC boosted its holdings in Comstock Resources by 256.3% in the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock worth $1,731,000 after buying an additional 111,934 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Up 5.6 %

Shares of NYSE CRK opened at $21.49 on Thursday. The company has a market capitalization of $6.29 billion, a P/E ratio of -28.28, a P/E/G ratio of 1.65 and a beta of 0.55. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The company has a 50 day simple moving average of $18.98 and a 200-day simple moving average of $16.12. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $22.06.

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

Analyst Ratings Changes

CRK has been the topic of several research reports. StockNews.com upgraded Comstock Resources to a “sell” rating in a research report on Thursday, March 20th. Morgan Stanley reaffirmed a “cautious” rating and set a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Williams Trading set a $13.00 target price on shares of Comstock Resources in a report on Wednesday, March 5th. Citigroup raised their price target 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. Finally, Truist Financial upped their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.73.

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.