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

Charles Schwab Investment Management Inc. increased its stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 4.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,413,820 shares of the oil and gas producer's stock after acquiring an additional 57,376 shares during the period. Charles Schwab Investment Management Inc. owned about 0.48% of Comstock Resources worth $15,736,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRK. Intech Investment Management LLC purchased a new position in shares of Comstock Resources in the 3rd quarter worth about $419,000. Quest Partners LLC boosted its holdings in Comstock Resources by 2,818,600.0% during the 3rd quarter. Quest Partners LLC now owns 28,187 shares of the oil and gas producer's stock valued at $314,000 after acquiring an additional 28,186 shares during the period. Empowered Funds LLC grew its position in Comstock Resources by 8.7% during the 3rd quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer's stock worth $351,000 after acquiring an additional 2,534 shares during the last quarter. Royce & Associates LP increased its stake in Comstock Resources by 79.2% in the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer's stock worth $7,677,000 after purchasing an additional 304,780 shares during the period. Finally, Parametrica Management Ltd purchased a new stake in shares of Comstock Resources during the third quarter valued at approximately $661,000. Institutional investors own 36.13% of the company's stock.

Wall Street Analyst Weigh In

CRK has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a "hold" rating in a report on Monday, September 30th. Piper Sandler lowered shares of Comstock Resources from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $8.00 to $5.00 in a report on Thursday, August 15th. Siebert Williams Shank downgraded Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price target on the stock. in a report on Tuesday, October 15th. Bank of America began coverage on Comstock Resources in a report on Monday, October 28th. They issued a "buy" rating and a $14.00 price objective for the company. Finally, Mizuho reduced their target price on Comstock Resources from $11.00 to $10.00 and set an "underperform" rating on the stock in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $10.89.

Comstock Resources Stock Down 1.4 %

Shares of NYSE CRK traded down $0.21 during mid-day trading on Friday, hitting $14.52. 1,821,916 shares of the stock traded hands, compared to its average volume of 1,834,784. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $4.24 billion, a price-to-earnings ratio of -80.67 and a beta of 0.57. The stock has a fifty day moving average price of $12.98 and a 200-day moving average price of $11.41. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $15.84.

Comstock Resources (NYSE:CRK - Get Free Report) last released its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The business had revenue of $304.50 million for the quarter, compared to analysts' expectations of $308.75 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. Comstock Resources's revenue for the quarter was down 19.2% on a year-over-year basis. Research analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current year.

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.