Intech Investment Management LLC Takes Position in Comstock Resources, Inc. (NYSE:CRK)

Intech Investment Management LLC acquired a new position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 37,659 shares of the oil and gas producer's stock, valued at approximately $419,000.

Other hedge funds have also bought and sold shares of the company. Doliver Advisors LP grew its position in shares of Comstock Resources by 3.9% during the 3rd quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer's stock worth $294,000 after purchasing an additional 988 shares in the last quarter. GAMMA Investing LLC grew its stake in Comstock Resources by 27.5% during the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer's stock worth $63,000 after purchasing an additional 1,312 shares during the period. XTX Topco Ltd increased its holdings in shares of Comstock Resources by 4.8% during the second quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer's stock valued at $299,000 after acquiring an additional 1,330 shares in the last quarter. Simplicity Wealth LLC raised its holdings in shares of Comstock Resources by 5.7% in the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer's stock valued at $296,000 after purchasing an additional 1,552 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Comstock Resources by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer's stock worth $601,000 after buying an additional 1,656 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRK. Truist Financial boosted their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a "hold" rating in a research report on Monday, September 30th. Piper Sandler cut shares of Comstock Resources from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $8.00 to $5.00 in a research report on Thursday, August 15th. BMO Capital Markets lifted their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a report on Friday, October 4th. Bank of America initiated coverage on Comstock Resources in a research report on Monday, October 28th. They set a "buy" rating and a $14.00 price objective for the company. Finally, Siebert Williams Shank downgraded shares of Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price objective on the stock. in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $10.31.

Comstock Resources Price Performance

CRK stock traded up $0.06 during trading on Tuesday, reaching $15.18. The company had a trading volume of 1,328,641 shares, compared to its average volume of 1,964,554. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $15.84. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a 50-day simple moving average of $12.68 and a 200-day simple moving average of $11.30.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.01). The firm had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The firm's revenue for the quarter was down 19.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. Equities research analysts forecast that Comstock Resources, Inc. will post -0.44 earnings per share for the current year.

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.