Intech Investment Management LLC Acquires 14,145 Shares of Comstock Resources, Inc. (NYSE:CRK)

Intech Investment Management LLC boosted its position in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 37.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,804 shares of the oil and gas producer's stock after acquiring an additional 14,145 shares during the period. Intech Investment Management LLC's holdings in Comstock Resources were worth $944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Comstock Resources during the 4th quarter valued at about $11,891,000. Edgestream Partners L.P. purchased a new position in shares of Comstock Resources during the fourth quarter valued at approximately $4,430,000. Weiss Asset Management LP purchased a new position in shares of Comstock Resources during the third quarter valued at approximately $1,263,000. Barclays PLC raised its holdings in shares of 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 in the last quarter. Finally, Verition Fund Management LLC lifted 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 worth $1,571,000 after acquiring an additional 102,767 shares during the period. 36.13% of the stock is owned by institutional investors.

Comstock Resources Stock Up 0.2 %

NYSE CRK traded up $0.05 during mid-day trading on Tuesday, reaching $20.29. The stock had a trading volume of 1,699,099 shares, compared to its average volume of 2,738,404. The stock has a market cap of $5.94 billion, a PE ratio of -26.70, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The company has a fifty day moving average price of $19.11 and a 200 day moving average price of $15.64. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $22.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Piper Sandler boosted their price target 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. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a report on Thursday, March 20th. Morgan Stanley began coverage on Comstock Resources in a research report on Friday, January 10th. They issued an "equal weight" rating and a $18.00 target price for the company. Finally, Mizuho raised Comstock Resources from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Four 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $13.36.

Insider Activity

In other news, Director Elizabeth B. Davis sold 8,000 shares of the company's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.17, for a total transaction of $145,360.00. Following the completion of the sale, the director now owns 99,632 shares of the company's stock, valued at $1,810,313.44. This represents a 7.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.