Aventail Capital Group LP Acquires 686,002 Shares of Comstock Resources, Inc. $CRK

Aventail Capital Group LP raised its holdings in Comstock Resources, Inc. (NYSE:CRK) by 149.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,143,721 shares of the oil and gas producer’s stock after purchasing an additional 686,002 shares during the quarter. Comstock Resources accounts for 1.1% of Aventail Capital Group LP’s investment portfolio, making the stock its 29th largest position. Aventail Capital Group LP’s holdings in Comstock Resources were worth $22,680,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. CreativeOne Wealth LLC boosted its holdings in shares of Comstock Resources by 3.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock worth $276,000 after buying an additional 500 shares during the last quarter. Uhlmann Price Securities LLC increased its holdings in Comstock Resources by 2.4% during the third quarter. Uhlmann Price Securities LLC now owns 27,653 shares of the oil and gas producer’s stock worth $548,000 after buying an additional 650 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Comstock Resources by 1.7% during the third quarter. Illinois Municipal Retirement Fund now owns 48,276 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 821 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Comstock Resources by 39.2% during the third quarter. Smartleaf Asset Management LLC now owns 3,085 shares of the oil and gas producer’s stock worth $62,000 after buying an additional 868 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Comstock Resources by 19.0% in the third quarter. Farther Finance Advisors LLC now owns 5,633 shares of the oil and gas producer’s stock worth $112,000 after acquiring an additional 900 shares during the period. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Up 0.2%

Comstock Resources stock opened at $20.82 on Friday. The firm has a 50 day simple moving average of $21.13 and a 200 day simple moving average of $20.91. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. Comstock Resources, Inc. has a 1-year low of $14.65 and a 1-year high of $31.17. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 14.76 and a beta of 0.40.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $504.66 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The business’s quarterly revenue was up 115.5% on a year-over-year basis. On average, analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comstock Resources in a research note on Monday, December 29th. Citigroup restated a “neutral” rating and set a $25.00 price target (up from $24.00) on shares of Comstock Resources in a research note on Wednesday, January 14th. UBS Group set a $17.00 price target on shares of Comstock Resources in a report on Friday, February 13th. Mizuho upped their price objective on Comstock Resources from $21.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, Piper Sandler reduced their price objective on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $21.00.

Insider Activity

In related news, VP Patrick Mcgough sold 48,915 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the sale, the vice president owned 187,516 shares of the company’s stock, valued at approximately $3,975,339.20. This represents a 20.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

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.