Quantbot Technologies LP Sells 43,588 Shares of Comstock Resources, Inc. $CRK

Quantbot Technologies LP cut its stake in Comstock Resources, Inc. (NYSE:CRK) by 18.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 195,957 shares of the oil and gas producer’s stock after selling 43,588 shares during the quarter. Quantbot Technologies LP owned about 0.07% of Comstock Resources worth $3,886,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in Comstock Resources by 344.5% in the second quarter. Bank of America Corp DE now owns 1,853,846 shares of the oil and gas producer’s stock valued at $51,296,000 after purchasing an additional 1,436,746 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Comstock Resources by 67.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock valued at $22,107,000 after acquiring an additional 437,476 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Comstock Resources by 195.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 588,033 shares of the oil and gas producer’s stock worth $16,271,000 after purchasing an additional 389,261 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Comstock Resources by 10,032.7% during the third quarter. Federated Hermes Inc. now owns 359,307 shares of the oil and gas producer’s stock worth $7,125,000 after purchasing an additional 355,761 shares in the last quarter. Finally, HRT Financial LP increased its position in shares of Comstock Resources by 1,506.1% during the second quarter. HRT Financial LP now owns 237,131 shares of the oil and gas producer’s stock worth $6,561,000 after purchasing an additional 222,367 shares in the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Trading Up 4.6%

Shares of NYSE:CRK opened at $19.62 on Monday. Comstock Resources, Inc. has a 52-week low of $14.65 and a 52-week high of $31.17. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 13.91 and a beta of 0.40. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $21.68 and a 200-day moving average price of $20.59.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The firm had revenue of $787.32 million for the quarter, compared to analyst estimates of $504.66 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Comstock Resources’s revenue for the quarter was up 115.5% on a year-over-year basis. Equities analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

CRK has been the subject of a number of recent analyst reports. Mizuho raised their price objective on Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Morgan Stanley set a $19.00 price target on Comstock Resources in a report on Friday, February 13th. UBS Group set a $17.00 price target on Comstock Resources in a research note on Friday, February 13th. Bank of America lowered shares of Comstock Resources from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $27.00 to $24.00 in a research report on Friday, January 16th. Finally, Piper Sandler dropped their target price on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 18th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $20.11.

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.