Royce & Associates LP lifted its stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 779,410 shares of the oil and gas producer's stock after acquiring an additional 89,630 shares during the period. Royce & Associates LP owned 0.27% of Comstock Resources worth $14,201,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Comstock Resources in the fourth quarter worth about $11,891,000. Edgestream Partners L.P. purchased a new position in shares of Comstock Resources in the 4th quarter worth approximately $4,430,000. Weiss Asset Management LP purchased a new stake in Comstock Resources during the third quarter valued at approximately $1,263,000. Barclays PLC lifted its position in Comstock Resources by 256.3% during the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer's stock valued at $1,731,000 after acquiring an additional 111,934 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in Comstock Resources by 267.8% in the third quarter. Verition Fund Management LLC now owns 141,143 shares of the oil and gas producer's stock valued at $1,571,000 after acquiring an additional 102,767 shares in the last quarter. Institutional investors own 36.13% of the company's stock.
Comstock Resources Stock Performance
Shares of CRK stock traded up $0.11 during trading hours on Friday, hitting $19.95. The company's stock had a trading volume of 3,511,648 shares, compared to its average volume of 2,763,775. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The company has a 50 day moving average of $19.11 and a 200 day moving average of $15.43. Comstock Resources, Inc. has a 12-month low of $7.74 and a 12-month high of $22.06. The stock has a market cap of $5.84 billion, a PE ratio of -26.24, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55.
Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14. The company had revenue of $366.51 million for the quarter, compared to the consensus estimate of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. On average, sell-side analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.
Insider Buying and Selling
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 sale, the director now owns 99,632 shares in the company, valued at approximately $1,810,313.44. This represents a 7.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 28,000 shares of company stock valued at $478,460 over the last ninety days. Company insiders own 2.00% of the company's stock.
Wall Street Analyst Weigh In
CRK has been the subject of several analyst reports. Truist Financial increased their price objective on Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a report on Monday, January 13th. Williams Trading set a $13.00 price target on Comstock Resources in a research note on Wednesday, March 5th. Citigroup boosted their price target on Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Piper Sandler increased their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a research report on Wednesday, January 29th. Finally, Mizuho upgraded shares of Comstock Resources from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Comstock Resources currently has an average rating of "Hold" and an average price target of $13.36.
Read Our Latest Analysis on CRK
Comstock Resources Profile
(
Free Report)
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.
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