Edgestream Partners L.P. Invests $4.43 Million in Comstock Resources, Inc. (NYSE:CRK)

Edgestream Partners L.P. acquired a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 243,137 shares of the oil and gas producer's stock, valued at approximately $4,430,000. Edgestream Partners L.P. owned about 0.08% of Comstock Resources as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in Comstock Resources in the third quarter worth about $25,000. Sunbelt Securities Inc. grew its position in shares of Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer's stock worth $27,000 after buying an additional 1,400 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of 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 buying an additional 2,326 shares during the last quarter. KBC Group NV lifted its holdings 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 buying an additional 2,066 shares during the period. Finally, Blue Trust Inc. boosted its stake in Comstock Resources by 56.4% in the fourth quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer's stock valued at $191,000 after acquiring an additional 3,787 shares during the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

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Comstock Resources Stock Down 1.0 %

NYSE CRK traded down $0.18 on Wednesday, reaching $18.19. The company had a trading volume of 1,343,974 shares, compared to its average volume of 2,847,457. The company's fifty day moving average is $19.08 and its 200-day moving average is $15.09. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of -23.94, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. Comstock Resources, Inc. has a 1-year low of $7.74 and a 1-year high of $22.06.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings data 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. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The company had revenue of $366.51 million during the quarter, compared to analysts' expectations of $370.62 million. On average, research analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRK. Piper Sandler increased their price target on Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a research note on Wednesday, January 29th. Truist Financial increased their target price on Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Citigroup boosted their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Mizuho upgraded shares of Comstock Resources from an "underperform" rating to a "neutral" rating and increased their price target for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Finally, Morgan Stanley began coverage on shares of Comstock Resources in a report on Friday, January 10th. They set an "equal weight" rating and a $18.00 price objective for the company. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Comstock Resources currently has an average rating of "Hold" and an average price target of $13.36.

Insider Transactions at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the sale, the director now directly owns 143,781 shares in the company, valued at approximately $2,245,859.22. The trade was a 6.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 38,000 shares of company stock valued at $634,660 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

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.