Corigliano Investment Advisers LLC Purchases New Holdings in Comstock Resources, Inc. (NYSE:CRK)

Corigliano Investment Advisers LLC acquired a new position in Comstock Resources, Inc. (NYSE:CRK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 628,447 shares of the oil and gas producer's stock, valued at approximately $11,450,000. Comstock Resources makes up about 5.5% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 5th biggest holding. Corigliano Investment Advisers LLC owned approximately 0.22% of Comstock Resources as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BOKF NA bought a new stake in shares of Comstock Resources in the fourth quarter valued at about $2,584,000. Aptus Capital Advisors LLC bought a new stake in shares of Comstock Resources in the 4th quarter valued at about $3,499,000. Quarry LP bought a new position in shares of Comstock Resources during the fourth quarter valued at approximately $70,000. Susquehanna Fundamental Investments LLC purchased a new position in Comstock Resources during the fourth quarter valued at approximately $6,349,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Comstock Resources by 11.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 66,060 shares of the oil and gas producer's stock worth $1,204,000 after buying an additional 6,741 shares in the last quarter. 36.13% of the stock is owned by institutional investors.

Comstock Resources Stock Performance

Comstock Resources stock traded up $0.76 during mid-day trading on Friday, hitting $23.33. The company had a trading volume of 1,752,410 shares, compared to its average volume of 2,643,942. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -30.70, a P/E/G ratio of 1.65 and a beta of 0.14. Comstock Resources, Inc. has a 12-month low of $7.74 and a 12-month high of $23.38. The company's fifty day moving average is $19.33 and its 200-day moving average is $17.71. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The firm's revenue was up 52.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) earnings per share. Equities research analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

CRK has been the topic of a number of analyst reports. Williams Trading set a $13.00 price target on Comstock Resources in a report on Wednesday, March 5th. Morgan Stanley reiterated a "cautious" rating and issued a $22.00 target price (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a report on Thursday. UBS Group initiated coverage on shares of Comstock Resources in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 price objective for the company. Finally, Truist Financial raised their target price 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. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $14.23.

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.