72,126 Shares in Comstock Resources, Inc. (NYSE:CRK) Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers has acquired 72,126 shares of Comstock Resources, valued at approximately $1.47 million, marking a new position in the company.
• Comstock Resources reported a quarterly earnings per share of $0.13, exceeding estimates, with revenues increasing by 90.5% compared to the previous year.
• Recent analyst ratings reveal a mix, with four analysts giving the stock a "sell" rating, two a "buy" rating, and a consensus average price target of $19.18.

Cetera Investment Advisers bought a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 72,126 shares of the oil and gas producer's stock, valued at approximately $1,467,000.

Several other large investors have also recently added to or reduced their stakes in CRK. Corigliano Investment Advisers LLC acquired a new stake in shares of Comstock Resources in the fourth quarter worth $11,450,000. Susquehanna Fundamental Investments LLC bought a new position in Comstock Resources during the fourth quarter valued at about $6,349,000. Marshall Wace LLP bought a new position in Comstock Resources during the fourth quarter valued at about $6,329,000. Dimensional Fund Advisors LP increased its stake in shares of Comstock Resources by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer's stock worth $242,301,000 after purchasing an additional 227,638 shares during the period. Finally, Aptus Capital Advisors LLC bought a new position in shares of Comstock Resources in the fourth quarter worth about $3,499,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Stock Performance

Comstock Resources stock traded down $0.22 during trading hours on Tuesday, hitting $15.54. The company had a trading volume of 2,433,352 shares, compared to its average volume of 2,646,028. The firm has a market cap of $4.55 billion, a PE ratio of -64.75 and a beta of 0.28. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.36 and a quick ratio of 0.36. Comstock Resources, Inc. has a one year low of $9.09 and a one year high of $31.17. The firm has a 50-day moving average of $23.16 and a 200 day moving average of $21.04.

Comstock Resources (NYSE:CRK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The firm had revenue of $470.26 million for the quarter, compared to analysts' expectations of $431.82 million. During the same period in the prior year, the firm earned ($0.20) EPS. The business's revenue was up 90.5% on a year-over-year basis. On average, sell-side analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on CRK shares. Wolfe Research upgraded Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price objective on the stock in a research note on Tuesday, June 17th. Citigroup reiterated a "neutral" rating and issued a $27.00 price objective (up from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. UBS Group dropped their price objective on Comstock Resources from $20.00 to $18.00 and set a "sell" rating on the stock in a research note on Thursday, July 31st. Bank of America lifted their price objective on Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Morgan Stanley decreased their target price on Comstock Resources from $21.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Monday, August 4th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $19.18.

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.