Fmr LLC Grows Stock Holdings in Comstock Resources, Inc. (NYSE:CRK)

Fmr LLC grew its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 266.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,415 shares of the oil and gas producer’s stock after acquiring an additional 18,475 shares during the period. Fmr LLC’s holdings in Comstock Resources were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Comstock Resources during the 3rd quarter valued at about $25,000. Blue Trust Inc. purchased a new position in shares of Comstock Resources during the second quarter valued at approximately $32,000. EverSource Wealth Advisors LLC raised its holdings in shares of Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 3,446 shares in the last quarter. Choreo LLC purchased a new stake in Comstock Resources in the second quarter worth $105,000. Finally, Algert Global LLC bought a new stake in Comstock Resources in the second quarter valued at $107,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a research note on Tuesday, October 15th. Truist Financial upped their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and raised their target price for the company from $10.00 to $18.00 in a research note on Monday, December 16th. BMO Capital Markets upped their price target on 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 initiated coverage on Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective for the company. Four 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’s stock. According to MarketBeat.com, Comstock Resources presently has a consensus rating of “Hold” and a consensus price target of $11.78.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $15.82 on Friday. The business has a fifty day moving average price of $13.83 and a 200-day moving average price of $11.73. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $4.62 billion, a PE ratio of -87.88 and a beta of 0.57. Comstock Resources, Inc. has a 1-year low of $7.07 and a 1-year high of $17.79.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 EPS. As a group, equities analysts expect that Comstock Resources, Inc. will post -0.44 EPS 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.