Pittenger & Anderson Inc. Increases Stock Holdings in Comstock Resources, Inc. (NYSE:CRK)

Pittenger & Anderson Inc. raised its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 25.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,500 shares of the oil and gas producer’s stock after purchasing an additional 2,500 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Comstock Resources were worth $111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRK. KGH Ltd increased its stake in shares of Comstock Resources by 119.3% in the 3rd quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after purchasing an additional 4,670,959 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Comstock Resources by 1,479.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 375,547 shares of the oil and gas producer’s stock valued at $4,142,000 after purchasing an additional 351,776 shares during the period. Hsbc Holdings PLC increased its stake in Comstock Resources by 280.7% in the 3rd quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock worth $4,556,000 after buying an additional 301,863 shares in the last quarter. Barclays PLC lifted its position in shares of Comstock Resources by 139.7% in the third quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock valued at $3,600,000 after acquiring an additional 190,254 shares in the last quarter. Finally, Heartland Advisors Inc. lifted its position in shares of Comstock Resources by 13.9% in the third quarter. Heartland Advisors Inc. now owns 1,485,997 shares of the oil and gas producer’s stock valued at $18,107,000 after acquiring an additional 180,917 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insider Activity at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the purchase, the insider now directly owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

Comstock Resources Trading Up 0.2 %

Shares of NYSE CRK traded up $0.02 during midday trading on Friday, hitting $10.32. The company’s stock had a trading volume of 1,334,944 shares, compared to its average volume of 4,552,491. The business’s 50 day moving average is $8.78 and its two-hundred day moving average is $9.47. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $13.39. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The firm has a market cap of $2.87 billion, a P/E ratio of 13.55 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). The business had revenue of $410.58 million for the quarter, compared to the consensus estimate of $401.97 million. Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The firm’s revenue for the quarter was down 55.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 earnings per share. As a group, equities research analysts expect that Comstock Resources, Inc. will post -0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRK. Mizuho decreased their target price on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th. Stifel Nicolaus reduced their target price on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a report on Tuesday. Truist Financial dropped their price target on Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, February 13th. StockNews.com upgraded Comstock Resources to a “sell” rating in a research report on Thursday, April 4th. Finally, Piper Sandler cut their target price on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.75.

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.