Comstock Resources, Inc. (NYSE:CRK) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in Comstock Resources, Inc. (NYSE:CRK) by 37.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,804 shares of the oil and gas producer’s stock after purchasing an additional 14,145 shares during the quarter. Intech Investment Management LLC’s holdings in Comstock Resources were worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its stake in Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,400 shares during the last quarter. Natixis Advisors LLC raised its stake in Comstock Resources by 6.6% in the 4th quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock valued at $470,000 after purchasing an additional 1,585 shares during the last quarter. KBC Group NV raised its stake in Comstock Resources by 46.8% in the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 2,066 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Comstock Resources by 225.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 2,326 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Comstock Resources by 8.7% in the 3rd quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer’s stock valued at $351,000 after purchasing an additional 2,534 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Citigroup upped their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research note on Thursday. Truist Financial upped their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler upped their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.36.

Comstock Resources Stock Up 0.5 %

NYSE CRK opened at $19.95 on Friday. The stock has a market cap of $5.84 billion, a PE ratio of -26.24, a P/E/G ratio of 1.65 and a beta of 0.55. Comstock Resources, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $22.06. The business has a 50 day moving average price of $19.11 and a two-hundred day moving average price of $15.53. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. The firm had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. As a group, sell-side analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the transaction, the director now owns 99,632 shares in the company, valued at $1,810,313.44. This represents a 7.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 28,000 shares of company stock worth $478,460 in the last 90 days. 2.00% of the stock is owned by company insiders.

Comstock Resources Company Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.