628,447 Shares in Comstock Resources, Inc. (NYSE:CRK) Purchased by Corigliano Investment Advisers LLC

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

A number of other institutional investors also recently made changes to their positions in the stock. VSM Wealth Advisory LLC purchased a new position in Comstock Resources in the fourth quarter valued at about $27,000. Sterling Capital Management LLC boosted its stake in shares of Comstock Resources by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer's stock worth $54,000 after acquiring an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Comstock Resources by 225.2% in 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 period. Quarry LP acquired a new stake in Comstock Resources during the fourth quarter valued at $70,000. Finally, KBC Group NV raised its holdings 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 valued at $118,000 after buying an additional 2,066 shares in the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Trading Down 2.6%

Shares of CRK traded down $0.60 during midday trading on Monday, hitting $22.74. The stock had a trading volume of 918,135 shares, compared to its average volume of 2,637,518. The firm has a market cap of $6.66 billion, a PE ratio of -29.85, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $24.35. The stock's 50 day moving average is $19.33 and its 200 day moving average is $17.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $512.85 million during the quarter, compared to analysts' expectations of $408.99 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The business's revenue was up 52.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) EPS. As a group, analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on CRK. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a research report on Thursday. Piper Sandler raised their target price 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. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a research report on Wednesday, March 5th. Morgan Stanley reaffirmed a "cautious" rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Finally, UBS Group started coverage on shares of Comstock Resources in a report on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 target price on the stock. Five equities 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $14.23.

Comstock Resources Company 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.