Comstock Resources, Inc. (NYSE:CRK) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,413,820 shares of the oil and gas producer’s stock after acquiring an additional 57,376 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.48% of Comstock Resources worth $15,736,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in Comstock Resources in the third quarter valued at approximately $419,000. Quest Partners LLC lifted its holdings in shares of Comstock Resources by 2,818,600.0% during the 3rd quarter. Quest Partners LLC now owns 28,187 shares of the oil and gas producer’s stock valued at $314,000 after acquiring an additional 28,186 shares in the last quarter. Empowered Funds LLC boosted its position in Comstock Resources by 8.7% during the 3rd quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer’s stock worth $351,000 after purchasing an additional 2,534 shares during the period. Royce & Associates LP increased its holdings in Comstock Resources by 79.2% in the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock valued at $7,677,000 after purchasing an additional 304,780 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in Comstock Resources in the third quarter valued at about $661,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Stock Down 1.4 %

Shares of Comstock Resources stock opened at $14.52 on Friday. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of -80.67 and a beta of 0.57. The stock has a 50-day simple moving average of $12.98 and a 200-day simple moving average of $11.40. 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 52-week low of $7.07 and a 52-week high of $15.84.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data 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 company had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. During the same period in the prior year, the company posted $0.04 EPS. The business’s revenue was down 19.2% on a year-over-year basis. On average, equities research analysts expect that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRK shares. Piper Sandler downgraded Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $8.00 to $5.00 in a report on Thursday, August 15th. Mizuho reduced their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a research report on Monday, September 16th. 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 research note on Monday, September 30th. BMO Capital Markets lifted their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Finally, Bank of America assumed coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.89.

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.