Carrera Capital Advisors Invests $1.39 Million in Comstock Resources, Inc. (NYSE:CRK)

Carrera Capital Advisors purchased a new position in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 76,119 shares of the oil and gas producer's stock, valued at approximately $1,387,000.

A number of other hedge funds have also bought and sold shares of CRK. Harbor Capital Advisors Inc. acquired a new position in Comstock Resources in the third quarter worth about $25,000. Sunbelt Securities Inc. boosted its stake in Comstock Resources by 140.0% in the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer's stock valued at $27,000 after acquiring an additional 1,400 shares during the period. Smartleaf Asset Management LLC boosted its stake in Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock valued at $64,000 after acquiring an additional 2,326 shares during the period. KBC Group NV boosted its stake in Comstock Resources by 46.8% in the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer's stock valued at $118,000 after acquiring an additional 2,066 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Comstock Resources in the third quarter valued at approximately $169,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Price Performance

NYSE:CRK traded up $1.04 during midday trading on Friday, hitting $17.96. 2,775,665 shares of the stock were exchanged, compared to its average volume of 2,850,685. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $22.06. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of -23.62, a P/E/G ratio of 1.65 and a beta of 0.55. The business has a 50-day moving average price of $19.10 and a two-hundred day moving average price of $14.94. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

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Comstock Resources (NYSE:CRK - Get Free Report) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $366.51 million for the quarter, compared to analysts' expectations of $370.62 million. Sell-side analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on CRK. Piper Sandler lifted their target price on Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a research note on Wednesday, January 29th. Morgan Stanley began coverage on Comstock Resources in a research note on Friday, January 10th. They issued an "equal weight" rating and a $18.00 target price for the company. Truist Financial lifted their target price on Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Mizuho upgraded Comstock Resources from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Finally, Citigroup lifted their price target on Comstock Resources from $12.50 to $15.50 and gave the company a "neutral" rating in a report on Friday, December 6th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Comstock Resources currently has a consensus rating of "Hold" and a consensus price target of $13.40.

Insider Buying and Selling

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the transaction, the director now owns 143,781 shares in the company, valued at approximately $2,245,859.22. The trade was a 6.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 38,000 shares of company stock valued at $634,660 over the last quarter. Corporate insiders own 2.00% of the company's stock.

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.