Dragoneer Investment Group LLC Purchases New Shares in Comstock Resources, Inc. $CRK

Dragoneer Investment Group LLC purchased a new stake in Comstock Resources, Inc. (NYSE:CRK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,298,202 shares of the oil and gas producer’s stock, valued at approximately $99,632,000. Comstock Resources accounts for approximately 2.2% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 15th biggest position. Dragoneer Investment Group LLC owned about 1.47% of Comstock Resources at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CRK. Rothschild Investment LLC boosted its stake in Comstock Resources by 740.4% in the 4th quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 1,007 shares during the period. Advisory Services Network LLC bought a new stake in Comstock Resources in the 3rd quarter valued at $27,000. Jones Financial Companies Lllp boosted its stake in Comstock Resources by 671.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 1,376 shares during the period. Hantz Financial Services Inc. boosted its stake in Comstock Resources by 877.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 1,290 shares during the period. Finally, iSAM Funds UK Ltd bought a new stake in Comstock Resources in the 3rd quarter valued at $38,000. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Price Performance

Comstock Resources stock opened at $13.35 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.41. Comstock Resources, Inc. has a 52 week low of $12.44 and a 52 week high of $31.17. The stock has a market capitalization of $3.92 billion, a P/E ratio of 6.10 and a beta of 0.13. The stock has a fifty day moving average of $15.28 and a 200-day moving average of $19.57.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The business had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.02 million. During the same period last year, the firm posted $0.18 EPS. Comstock Resources’s quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that Comstock Resources, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CRK shares. Williams Trading set a $16.00 price target on Comstock Resources in a research note on Thursday, May 14th. Mizuho cut their target price on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Morgan Stanley cut their target price on Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, May 22nd. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Comstock Resources in a research report on Wednesday, May 20th. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $17.00.

Comstock Resources Company 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.