Intech Investment Management LLC Purchases New Stake in Comstock Resources, Inc. (NYSE:CRK)

Intech Investment Management LLC bought a new stake in shares of Comstock Resources, Inc. (NYSE:CRK) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 37,659 shares of the oil and gas producer’s stock, valued at approximately $419,000.

A number of other large investors also recently modified their holdings of the business. Doliver Advisors LP raised 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 buying an additional 988 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Comstock Resources by 27.5% in the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock worth $63,000 after buying an additional 1,312 shares in the last quarter. XTX Topco Ltd boosted its stake in 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 buying an additional 1,330 shares in the last quarter. Simplicity Wealth LLC boosted its stake in Comstock Resources by 5.7% during the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock valued at $296,000 after buying an additional 1,552 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Comstock Resources by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock worth $601,000 after acquiring an additional 1,656 shares during the period. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Stock Performance

CRK opened at $15.12 on Tuesday. 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 stock’s 50 day moving average price is $12.68 and its two-hundred day moving average price is $11.30. The firm has a market capitalization of $4.42 billion, a P/E ratio of -83.97 and a beta of 0.47. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $15.84.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on CRK shares. Bank of America started coverage on shares of Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Mizuho decreased their price target on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research note on Tuesday, October 15th. BMO Capital Markets raised their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Finally, Truist Financial raised their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.31.

Comstock Resources Company 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.