Invesco Ltd. Sells 89,724 Shares of Comstock Resources, Inc. (NYSE:CRK)

Invesco Ltd. lowered its stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 642,490 shares of the oil and gas producer's stock after selling 89,724 shares during the quarter. Invesco Ltd. owned approximately 0.22% of Comstock Resources worth $11,706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRK. Vanguard Group Inc. boosted its position in Comstock Resources by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer's stock valued at $168,043,000 after buying an additional 126,380 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Comstock Resources by 6.5% in the fourth 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 acquiring an additional 91,988 shares during the last quarter. Royce & Associates LP increased its position in Comstock Resources by 13.0% in the fourth quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer's stock worth $14,201,000 after purchasing an additional 89,630 shares during the period. Raymond James Financial Inc. bought a new stake in Comstock Resources during the 4th quarter worth about $11,891,000. Finally, Principal Financial Group Inc. lifted its position in Comstock Resources by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 439,470 shares of the oil and gas producer's stock valued at $8,007,000 after purchasing an additional 12,257 shares during the period. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Stock Down 0.6 %

Shares of Comstock Resources stock traded down $0.11 during trading on Friday, reaching $18.25. The stock had a trading volume of 983,878 shares, compared to its average volume of 2,664,794. 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 market capitalization of $5.34 billion, a price-to-earnings ratio of -24.02, a P/E/G 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 stock has a fifty day moving average price of $19.00 and a two-hundred day moving average price of $17.01.

Comstock Resources (NYSE:CRK - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Sell-side analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRK has been the subject of several analyst reports. Williams Trading set a $13.00 price target on shares of Comstock Resources in a research note on Wednesday, March 5th. UBS Group assumed coverage on Comstock Resources in a research note on Tuesday. They issued a "neutral" rating and a $19.00 price target on the stock. Truist Financial lifted their price objective on Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. StockNews.com raised Comstock Resources to a "sell" rating in a research note on Saturday, April 19th. Finally, Piper Sandler boosted their target price on Comstock Resources from $5.00 to $6.00 and gave the stock an "underweight" rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Comstock Resources has an average rating of "Hold" and an average target price of $14.23.

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.