Mario Gabelli Was Right About These 3 Stocks

1. Comstock Resources, Inc. (NYSE:CRK)

Number of Hedge Fund Holders: 25 

Percentage Increase in Share Price (YTD): 139.84%  

Comstock Resources, Inc. (NYSE:CRK) is a Texas-based independent energy company. The hedge fund of Mario Gabelli entered the second quarter of 2022 with over 23,800 shares of Comstock Resources, Inc. (NYSE:CRK) in the portfolio worth $312,000, representing a minor portion of the portfolio. On May 3, the firm posted earnings for the first quarter of 2022, reporting earnings per share of $0.51, in line with market expectations. The revenue over the period was $524 million, beating estimates by $68 million. 

On May 31, Mizuho analyst Vincent Lovaglio maintained a Buy rating on Comstock Resources, Inc. (NYSE:CRK) stock and raised the price target to $23 from $20, noting that higher energy prices were benefiting exploration and production firms in the oil sector. 

At the end of the first quarter of 2022, 25 hedge funds in the database of Insider Monkey held stakes worth $116 million in Comstock Resources, Inc. (NYSE:CRK), up from 19 in the preceding quarter worth $92 million. Among the hedge funds being tracked by Insider Monkey, New York-based firm DE Shaw is a leading shareholder in Comstock Resources, Inc. (NYSE:CRK), with 4 million shares worth more than $52 million. 

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