652,642 Shares in Comstock Resources, Inc. (NYSE:CRK) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 652,642 shares of the oil and gas producer's stock, valued at approximately $11,891,000. Raymond James Financial Inc. owned 0.22% of Comstock Resources as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRK. Empowered Funds LLC increased its holdings in shares of Comstock Resources by 8.7% in the third quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer's stock valued at $351,000 after purchasing an additional 2,534 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Comstock Resources by 2,818,600.0% in the third quarter. Quest Partners LLC now owns 28,187 shares of the oil and gas producer's stock worth $314,000 after acquiring an additional 28,186 shares during the last quarter. Intech Investment Management LLC bought a new stake in Comstock Resources during the 3rd quarter worth $419,000. Charles Schwab Investment Management Inc. raised its holdings in Comstock Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer's stock valued at $15,736,000 after buying an additional 57,376 shares during the last quarter. Finally, FMR LLC raised its position in Comstock Resources by 266.2% during the 3rd quarter. FMR LLC now owns 25,415 shares of the oil and gas producer's stock worth $283,000 after purchasing an additional 18,475 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, Director Elizabeth B. Davis sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The stock was 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 directly owns 99,632 shares of the company's stock, valued at approximately $1,810,313.44. This trade represents a 7.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CRK has been the topic of several research reports. Morgan Stanley started 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 on the stock. Mizuho raised Comstock Resources from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Piper Sandler raised their price objective on Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a report on Wednesday, January 29th. StockNews.com raised shares of Comstock Resources to a "sell" rating in a report on Thursday. Finally, 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 report on Monday, January 13th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.36.

Comstock Resources Price Performance

Shares of CRK stock traded up $0.28 on Monday, reaching $20.20. The company's stock had a trading volume of 2,294,917 shares, compared to its average volume of 2,739,960. The stock's fifty day simple moving average is $19.11 and its 200-day simple moving average is $15.57. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $22.06. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of -26.58, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.14. The business had revenue of $366.51 million during the quarter, compared to analysts' expectations of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. Analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal 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.