Barclays PLC Acquires 111,934 Shares of Comstock Resources, Inc. (NYSE:CRK)

Barclays PLC increased its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 256.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 155,614 shares of the oil and gas producer’s stock after buying an additional 111,934 shares during the quarter. Barclays PLC’s holdings in Comstock Resources were worth $1,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CRK. XTX Topco Ltd raised its stake in Comstock Resources by 74.1% during the third quarter. XTX Topco Ltd now owns 50,127 shares of the oil and gas producer’s stock worth $558,000 after acquiring an additional 21,336 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of Comstock Resources in the 3rd quarter valued at approximately $1,263,000. Verition Fund Management LLC grew its holdings in shares of Comstock Resources by 267.8% during the 3rd quarter. Verition Fund Management LLC now owns 141,143 shares of the oil and gas producer’s stock valued at $1,571,000 after purchasing an additional 102,767 shares during the last quarter. FMR LLC increased 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 57,376 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on CRK shares. Truist Financial boosted their target price 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. Citigroup boosted their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a research report on Tuesday, October 15th. Bank of America assumed coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Finally, Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $10.00 to $18.00 in a report on Monday, December 16th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.78.

Comstock Resources Price Performance

Comstock Resources stock opened at $17.09 on Friday. The stock’s 50 day moving average is $14.24 and its 200 day moving average is $11.88. Comstock Resources, Inc. has a one year low of $7.07 and a one year high of $17.79. The firm has a market cap of $4.99 billion, a P/E ratio of -94.94 and a beta of 0.57. 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 (NYSE:CRK) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. During the same quarter last year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, research analysts expect that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Insider Buying and Selling

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.62, for a total value of $156,200.00. Following the transaction, the director now directly owns 143,781 shares of the company’s stock, valued at approximately $2,245,859.22. The trade was a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 30,000 shares of company stock valued at $489,300 over the last quarter. Insiders own 2.00% of the company’s stock.

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.