Fiduciary Alliance LLC Has $3.39 Million Stock Holdings in Comstock Resources, Inc. $CRK

Fiduciary Alliance LLC increased its position in Comstock Resources, Inc. (NYSE:CRK) by 254.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 160,675 shares of the oil and gas producer’s stock after buying an additional 115,313 shares during the period. Fiduciary Alliance LLC’s holdings in Comstock Resources were worth $3,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in CRK. State Street Corp lifted its position in shares of Comstock Resources by 3.7% during the 4th quarter. State Street Corp now owns 4,483,203 shares of the oil and gas producer’s stock worth $103,921,000 after purchasing an additional 161,093 shares during the last quarter. Dragoneer Investment Group LLC bought a new position in Comstock Resources in the 4th quarter worth approximately $99,632,000. Bank of America Corp DE lifted its holdings in shares of Comstock Resources by 5.1% during the third quarter. Bank of America Corp DE now owns 1,948,702 shares of the oil and gas producer’s stock worth $38,643,000 after buying an additional 94,856 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Comstock Resources by 50.5% during the third quarter. Woodline Partners LP now owns 1,231,916 shares of the oil and gas producer’s stock worth $24,429,000 after buying an additional 413,611 shares during the last quarter. Finally, Aventail Capital Group LP lifted its holdings in shares of Comstock Resources by 149.9% during the third quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock worth $22,680,000 after buying an additional 686,002 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Trading Down 0.1%

Shares of CRK opened at $13.45 on Thursday. Comstock Resources, Inc. has a 1 year low of $12.44 and a 1 year high of $29.41. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.96. The stock has a 50 day simple moving average of $14.68 and a 200-day simple moving average of $19.02. The stock has a market cap of $3.95 billion, a PE ratio of 6.14 and a beta of 0.13.

Comstock Resources (NYSE:CRK) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). The company had revenue of $587.35 million for the quarter, compared to the consensus estimate of $554.01 million. Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.Comstock Resources’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. On average, sell-side analysts predict that Comstock Resources, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRK has been the topic of several research analyst reports. Mizuho lowered their price objective on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Citigroup reiterated a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. UBS Group reissued a “sell” rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of Comstock Resources in a research report on Wednesday, May 20th. Finally, Morgan Stanley dropped their price objective on shares of Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, May 22nd. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Comstock Resources presently has a consensus rating of “Reduce” and an average target price of $17.00.

Comstock Resources Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.