BNP Paribas Financial Markets Raises Stock Position in Comstock Resources, Inc. $CRK

BNP Paribas Financial Markets boosted its holdings in Comstock Resources, Inc. (NYSE:CRK) by 182.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 523,760 shares of the oil and gas producer’s stock after purchasing an additional 338,008 shares during the quarter. BNP Paribas Financial Markets’ holdings in Comstock Resources were worth $12,141,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CRK. Great Hill Capital LLC acquired a new position in Comstock Resources during the third quarter valued at $4,075,000. GSA Capital Partners LLP acquired a new position in Comstock Resources during the third quarter valued at $2,395,000. LSP Investment Advisors LLC lifted its position in Comstock Resources by 33.9% during the third quarter. LSP Investment Advisors LLC now owns 378,900 shares of the oil and gas producer’s stock valued at $7,514,000 after purchasing an additional 95,900 shares during the period. Aventail Capital Group LP lifted its position in Comstock Resources by 149.9% during the third quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock valued at $22,680,000 after purchasing an additional 686,002 shares during the period. Finally, BW Gestao de Investimentos Ltda. acquired a new position in Comstock Resources during the third quarter valued at $1,144,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRK. Wall Street Zen downgraded shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Mizuho decreased their price objective on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. UBS Group reiterated a “sell” rating and issued a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Williams Trading set a $16.00 price objective on shares of Comstock Resources in a research report on Thursday, May 14th. Finally, Citigroup reiterated a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, April 15th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $18.89.

Comstock Resources Stock Down 0.0%

CRK stock opened at $13.00 on Monday. The stock has a market capitalization of $3.82 billion, a P/E ratio of 5.93 and a beta of 0.13. The firm has a 50-day simple moving average of $16.38 and a 200-day simple moving average of $20.14. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. Comstock Resources, Inc. has a 52 week low of $12.84 and a 52 week high of $31.17.

Comstock Resources (NYSE:CRK) last released its 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). The company had revenue of $587.35 million for the quarter, compared to analysts’ expectations of $554.02 million. Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. Equities analysts forecast that Comstock Resources, Inc. will post 0.56 earnings per share for the current fiscal year.

About Comstock Resources

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.