Charles Schwab Investment Management Inc. Has $27.44 Million Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,505,808 shares of the oil and gas producer’s stock after purchasing an additional 91,988 shares during the period. Charles Schwab Investment Management Inc. owned about 0.52% of Comstock Resources worth $27,436,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CRK. Sunbelt Securities Inc. increased its position in Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,400 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 2,326 shares during the last quarter. KBC Group NV increased its holdings in shares of 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 worth $118,000 after buying an additional 2,066 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Comstock Resources by 56.4% in the 4th quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer’s stock valued at $191,000 after acquiring an additional 3,787 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Comstock Resources in the 4th quarter worth about $214,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Performance

Shares of Comstock Resources stock opened at $18.90 on Tuesday. The business has a 50-day moving average price of $19.07 and a two-hundred day moving average price of $15.24. Comstock Resources, Inc. has a 1-year low of $7.74 and a 1-year high of $22.06. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The company has a market cap of $5.53 billion, a P/E ratio of -24.86, a PEG ratio of 1.65 and a beta of 0.55.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. The company had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. As a group, analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Insiders Place Their Bets

In other news, Director Elizabeth B. Davis sold 8,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the sale, the director now directly owns 99,632 shares in the company, valued at $1,810,313.44. This trade represents a 7.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 38,000 shares of company stock worth $634,660. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CRK. Citigroup lifted their price target on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Williams Trading set a $13.00 target price on shares of Comstock Resources in a report on Wednesday, March 5th. Piper Sandler raised their price target on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a report on Thursday, February 20th. Finally, Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $10.00 to $18.00 in a report on Monday, December 16th. Four equities 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. According to MarketBeat, Comstock Resources has an average rating of “Hold” and a consensus price target of $13.36.

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.