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

Dragoneer Investment Group LLC bought a new position in Comstock Resources, Inc. (NYSE:CRK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,298,202 shares of the oil and gas producer’s stock, valued at approximately $99,632,000. Comstock Resources makes up about 2.2% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of CRK. AQR Capital Management LLC acquired a new position in Comstock Resources in the 1st quarter worth about $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Comstock Resources by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock worth $1,124,000 after purchasing an additional 2,697 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Comstock Resources by 67.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock worth $22,107,000 after purchasing an additional 437,476 shares in the last quarter. Intech Investment Management LLC increased its holdings in Comstock Resources by 26.0% in the 1st quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock worth $1,328,000 after purchasing an additional 13,485 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Comstock Resources in the 2nd quarter worth about $93,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CRK shares. Morgan Stanley decreased their price target on Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, May 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday, May 20th. Citigroup reissued a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. Williams Trading set a $16.00 price target on Comstock Resources in a research note on Thursday, May 14th. Finally, UBS Group reissued a “sell” rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $17.00.

Comstock Resources Stock Up 2.3%

Shares of Comstock Resources stock opened at $13.35 on Wednesday. Comstock Resources, Inc. has a one year low of $12.44 and a one year high of $31.17. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41. The stock’s 50-day moving average is $15.28 and its 200 day moving average is $19.57. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 6.10 and a beta of 0.13.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The business had revenue of $587.35 million for the quarter, compared to the consensus estimate of $554.02 million. During the same quarter in the previous year, the company earned $0.18 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts anticipate that Comstock Resources, Inc. will post 0.56 EPS for the current year.

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.