Smartleaf Asset Management LLC Purchases 2,326 Shares of Comstock Resources, Inc. (NYSE:CRK)

Smartleaf Asset Management LLC increased its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 225.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,359 shares of the oil and gas producer’s stock after purchasing an additional 2,326 shares during the period. Smartleaf Asset Management LLC’s holdings in Comstock Resources were worth $64,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Sunbelt Securities Inc. increased its holdings in shares of 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 acquiring an additional 1,400 shares during the last quarter. KBC Group NV boosted its position in 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 purchasing an additional 2,066 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Comstock Resources in the third quarter valued at $169,000. Blue Trust Inc. raised its position in shares of Comstock Resources by 56.4% in the fourth quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer’s stock valued at $191,000 after purchasing an additional 3,787 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Comstock Resources during the 4th quarter worth about $214,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $17.96 on Monday. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $22.06. The company has a market cap of $5.26 billion, a price-to-earnings ratio of -23.62, a PEG ratio of 1.65 and a beta of 0.55. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The firm has a 50 day simple moving average of $19.10 and a 200 day simple moving average of $14.96.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The company had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Research analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the sale, the director now owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. This represents a 7.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 38,000 shares of company stock valued at $634,660 over the last ninety days. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

CRK has been the topic of several research reports. Piper Sandler upped their target price on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Truist Financial upped their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Citigroup increased their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, StockNews.com raised Comstock Resources to a “sell” rating in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.40.

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.