SBI Securities Co. Ltd. Takes $272,000 Position in Comstock Resources, Inc. (NYSE:CRK)

SBI Securities Co. Ltd. purchased a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,928 shares of the oil and gas producer's stock, valued at approximately $272,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royce & Associates LP raised its stake in Comstock Resources by 79.2% in the third quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer's stock valued at $7,677,000 after buying an additional 304,780 shares during the last quarter. Barclays PLC raised its stake in Comstock Resources by 256.3% in the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer's stock valued at $1,731,000 after buying an additional 111,934 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Comstock Resources by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer's stock valued at $1,896,000 after buying an additional 13,998 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Comstock Resources by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer's stock worth $15,736,000 after purchasing an additional 57,376 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Comstock Resources in the third quarter worth about $419,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

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Comstock Resources Stock Performance

Comstock Resources stock traded up $1.04 during midday trading on Friday, hitting $17.96. 2,775,665 shares of the company were exchanged, compared to its average volume of 2,849,323. The firm has a market capitalization of $5.26 billion, a PE ratio of -23.62, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. Comstock Resources, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $22.06. The business has a fifty day simple moving average of $19.10 and a two-hundred day simple moving average of $14.94. 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 (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, beating 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 for the quarter, compared to analyst estimates of $370.62 million. On average, sell-side analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources 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 value of $145,360.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 38,000 shares of company stock valued at $634,660. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CRK shares. Morgan Stanley started coverage on Comstock Resources in a research note on Friday, January 10th. They issued an "equal weight" rating and a $18.00 price objective for the company. Mizuho upgraded Comstock Resources from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Truist Financial raised 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 upgraded Comstock Resources to a "sell" rating in a research note on Thursday, February 20th. Finally, Citigroup raised their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.40.

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.