150,100 Shares in Comstock Resources, Inc. $CRK Bought by Hodges Capital Management Inc.

Hodges Capital Management Inc. bought a new position in Comstock Resources, Inc. (NYSE:CRK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 150,100 shares of the oil and gas producer’s stock, valued at approximately $3,479,000. Hodges Capital Management Inc. owned about 0.05% of Comstock Resources as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Great Hill Capital LLC acquired a new stake in shares of Comstock Resources in the third quarter worth $4,075,000. GSA Capital Partners LLP acquired a new stake in shares of Comstock Resources in the third quarter worth $2,395,000. LSP Investment Advisors LLC boosted its position in shares of Comstock Resources by 33.9% in the third quarter. LSP Investment Advisors LLC now owns 378,900 shares of the oil and gas producer’s stock worth $7,514,000 after buying an additional 95,900 shares during the period. Aventail Capital Group LP boosted its position in shares of Comstock Resources by 149.9% in the third quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock worth $22,680,000 after buying an additional 686,002 shares during the period. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in shares of Comstock Resources in the third quarter worth $1,144,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wall Street Zen cut Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Mizuho decreased their target price on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, April 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a research report on Wednesday, May 20th. Finally, Williams Trading set a $16.00 target price on Comstock Resources in a research report on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $18.89.

Comstock Resources Price Performance

CRK opened at $13.36 on Thursday. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 6.10 and a beta of 0.13. Comstock Resources, Inc. has a 1 year low of $12.44 and a 1 year high of $31.17. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.96. The stock has a fifty day moving average price of $15.81 and a 200 day moving average price of $19.90.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The firm had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.02 million. Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. Comstock Resources’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS. Analysts forecast that Comstock Resources, Inc. will post 0.56 EPS for the current fiscal 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.