Fmr LLC Increases Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Fmr LLC increased its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 266.2% in the 3rd quarter, Holdings Channel reports. The firm owned 25,415 shares of the oil and gas producer’s stock after buying an additional 18,475 shares during the period. Fmr LLC’s holdings in Comstock Resources were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in Comstock Resources in the 3rd quarter worth approximately $25,000. Blue Trust Inc. bought a new position in shares of Comstock Resources during the 2nd quarter valued at $32,000. EverSource Wealth Advisors LLC boosted its stake in shares of Comstock Resources by 2,533.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 3,446 shares during the last quarter. Choreo LLC bought a new stake in shares of Comstock Resources in the second quarter worth $105,000. Finally, Algert Global LLC purchased a new stake in Comstock Resources during the second quarter valued at $107,000. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Up 2.2 %

Shares of CRK stock opened at $15.82 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. Comstock Resources, Inc. has a one year low of $7.07 and a one year high of $17.79. The company’s fifty day moving average price is $13.83 and its 200-day moving average price is $11.73. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of -87.88 and a beta of 0.57.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CRK shares. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price on the stock. in a research report on Tuesday, October 15th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. BMO Capital Markets boosted their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Truist Financial upped their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Bank of America began coverage on shares of Comstock Resources in a research note on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Comstock Resources currently has an average rating of “Hold” and a consensus target price of $11.78.

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.