Vanguard Group Inc. lifted its position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,222,982 shares of the oil and gas producer's stock after purchasing an additional 126,380 shares during the period. Vanguard Group Inc. owned 3.16% of Comstock Resources worth $168,043,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Comstock Resources during the 4th quarter worth approximately $11,891,000. Edgestream Partners L.P. purchased a new stake in shares of Comstock Resources during the fourth quarter valued at approximately $4,430,000. Weiss Asset Management LP bought a new stake in Comstock Resources during the third quarter worth $1,263,000. Barclays PLC boosted its position in Comstock Resources by 256.3% in the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer's stock worth $1,731,000 after purchasing an additional 111,934 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Comstock Resources by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer's stock valued at $27,436,000 after purchasing an additional 91,988 shares during the period. 36.13% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CRK has been the topic of a number of recent analyst reports. Truist Financial lifted their target price on Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a research report on Wednesday, March 5th. Mizuho raised shares of Comstock Resources from an "underperform" rating to a "neutral" rating and increased their target price for the company from $10.00 to $18.00 in a research report on Monday, December 16th. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a research note on Friday, April 4th. Finally, Morgan Stanley reiterated a "cautious" rating and issued a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.73.
Get Our Latest Analysis on Comstock Resources
Comstock Resources Price Performance
NYSE CRK traded up $1.27 during trading hours on Friday, hitting $19.32. The company had a trading volume of 2,306,666 shares, compared to its average volume of 2,726,360. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of -25.43, a PEG ratio of 1.65 and a beta of 0.42. Comstock Resources, Inc. has a 52 week low of $7.74 and a 52 week high of $22.06. The firm has a 50 day simple moving average of $18.82 and a 200 day simple moving average of $16.52.
Comstock Resources (NYSE:CRK - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.14. The company had revenue of $366.51 million during 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%. Equities research analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.
Comstock Resources Company Profile
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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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