KLP Kapitalforvaltning AS purchased a new position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 19,500 shares of the oil and gas producer's stock, valued at approximately $355,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. VSM Wealth Advisory LLC acquired a new stake in Comstock Resources during the fourth quarter worth approximately $27,000. Sunbelt Securities Inc. lifted 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 valued at $27,000 after acquiring an additional 1,400 shares during the period. Smartleaf Asset Management LLC boosted its stake in 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 acquiring an additional 2,326 shares in the last quarter. KBC Group NV grew 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 worth $118,000 after purchasing an additional 2,066 shares during the period. Finally, Blue Trust Inc. increased 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 purchasing an additional 3,787 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on the company. Williams Trading set a $13.00 target price on Comstock Resources in a research report on Wednesday, March 5th. Mizuho upgraded Comstock Resources from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $10.00 to $18.00 in a report on Monday, December 16th. StockNews.com upgraded Comstock Resources to a "sell" rating in a report on Friday, April 4th. Truist Financial boosted their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Finally, Morgan Stanley reaffirmed a "cautious" rating and issued a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Comstock Resources currently has an average rating of "Hold" and an average target price of $13.73.
Check Out Our Latest Research Report on CRK
Comstock Resources Stock Performance
Shares of NYSE CRK traded down $1.17 during midday trading on Thursday, reaching $18.01. The company's stock had a trading volume of 2,706,743 shares, compared to its average volume of 2,734,173. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The stock has a market capitalization of $5.28 billion, a P/E ratio of -23.70, a PEG ratio of 1.65 and a beta of 0.42. The firm has a 50 day moving average price of $18.82 and a 200-day moving average price of $16.52. Comstock Resources, Inc. has a 12-month low of $7.74 and a 12-month high of $22.06.
Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.14. The firm had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. As a group, equities analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.
Comstock Resources 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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