BW Gestao de Investimentos Ltda. Boosts Position in Comstock Resources, Inc. $CRK

BW Gestao de Investimentos Ltda. boosted its holdings in Comstock Resources, Inc. (NYSE:CRK) by 163.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 152,100 shares of the oil and gas producer’s stock after buying an additional 94,418 shares during the period. BW Gestao de Investimentos Ltda. owned approximately 0.05% of Comstock Resources worth $3,526,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CRK. Rothschild Investment LLC raised its holdings in Comstock Resources by 740.4% in the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 1,007 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Comstock Resources during the third quarter valued at approximately $27,000. Jones Financial Companies Lllp raised its stake in shares of Comstock Resources by 671.2% during the third 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. raised its stake in shares of Comstock Resources by 877.6% during the fourth 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 purchased a new stake in shares of Comstock Resources during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insider Buying and Selling

In other Comstock Resources news, VP Patrick Mcgough sold 48,915 shares of Comstock Resources stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $21.20, for a total value of $1,036,998.00. Following the completion of the transaction, the vice president owned 187,516 shares of the company’s stock, valued at $3,975,339.20. The trade was a 20.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CRK has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Williams Trading set a $16.00 price objective on shares of Comstock Resources in a research note on Thursday, May 14th. UBS Group reiterated a “sell” rating and set a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Citigroup reiterated a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. Finally, Morgan Stanley dropped their price objective on shares of Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, May 22nd. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $18.89.

Comstock Resources Stock Performance

Comstock Resources stock opened at $13.43 on Wednesday. The company has a market cap of $3.94 billion, a PE ratio of 6.13 and a beta of 0.13. The company has a fifty day moving average price of $17.04 and a two-hundred day moving average price of $20.47. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41. Comstock Resources, Inc. has a 12 month low of $12.84 and a 12 month high of $31.17.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data 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). The business had revenue of $587.35 million during the quarter, compared to analyst estimates of $554.02 million. Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. Research analysts expect that Comstock Resources, Inc. will post 0.64 earnings per share for the current 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.