Comstock Resources, Inc. (NYSE:CRK) Position Raised by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,060 shares of the oil and gas producer’s stock after buying an additional 6,741 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Comstock Resources were worth $1,204,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its position in Comstock Resources by 1.9% in the fourth quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer’s stock worth $747,000 after purchasing an additional 772 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of Comstock Resources in the fourth quarter worth $27,000. Natixis Advisors LLC boosted its position in Comstock Resources by 6.6% during the 4th quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock worth $470,000 after acquiring an additional 1,585 shares during the period. KBC Group NV grew its position in Comstock Resources by 46.8% during the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 2,066 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 2,326 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Analyst Ratings Changes

CRK has been the subject of several recent research reports. Morgan Stanley reissued a “cautious” rating and issued a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Williams Trading set a $13.00 price objective on Comstock Resources in a research note on Wednesday, March 5th. Truist Financial increased their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 13th. UBS Group initiated coverage on shares of Comstock Resources in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $19.00 target price for the company. Finally, Piper Sandler boosted their price target on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.23.

Comstock Resources Price Performance

Shares of CRK stock opened at $23.33 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The stock’s fifty day simple moving average is $19.33 and its 200 day simple moving average is $17.67. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $23.38. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of -30.70, a P/E/G ratio of 1.65 and a beta of 0.14.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $512.85 million during the quarter, compared to analysts’ expectations of $408.99 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS. On average, analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

About Comstock Resources

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.