Charles Schwab Investment Management Inc. Grows Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Charles Schwab Investment Management Inc. boosted its position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 6.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,505,808 shares of the oil and gas producer's stock after acquiring an additional 91,988 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.52% of Comstock Resources worth $27,436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CRK. Sunbelt Securities Inc. increased its position in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer's stock worth $27,000 after acquiring an additional 1,400 shares during the period. Smartleaf Asset Management LLC raised its holdings in Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 2,326 shares in the last quarter. KBC Group NV lifted its position 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 last quarter. Blue Trust Inc. boosted its position in shares of Comstock Resources by 56.4% in the 4th quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer's stock valued at $191,000 after purchasing an additional 3,787 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Comstock Resources during the 4th quarter worth approximately $214,000. Hedge funds and other institutional investors own 36.13% of the company's stock.

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Insider Activity

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business's stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $16.98, for a total transaction of $169,800.00. Following the completion of the sale, the director now directly owns 107,632 shares in the company, valued at $1,827,591.36. The trade was a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 28,000 shares of company stock valued at $478,460 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CRK shares. Truist Financial increased their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. StockNews.com raised Comstock Resources to a "sell" rating in a report on Thursday. Mizuho raised Comstock Resources from an "underperform" rating to a "neutral" rating and raised their target price for the company from $10.00 to $18.00 in a report on Monday, December 16th. Citigroup upped their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Finally, Piper Sandler increased their price target on shares of Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a report on Wednesday, January 29th. Four 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.com, the company currently has an average rating of "Hold" and an average price target of $13.36.

Comstock Resources Price Performance

Shares of CRK traded up $0.11 during mid-day trading on Friday, reaching $19.95. 1,671,656 shares of the company's stock were exchanged, compared to its average volume of 2,763,604. Comstock Resources, Inc. has a 52-week low of $7.74 and a 52-week high of $22.06. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The company has a 50-day simple moving average of $19.11 and a two-hundred day simple moving average of $15.43. The company has a market cap of $5.84 billion, a price-to-earnings ratio of -26.24, a PEG ratio of 1.65 and a beta of 0.55.

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

Comstock Resources 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.