Comstock Resources, Inc. $CRK Stock Position Decreased by American Century Companies Inc.

Key Points

• American Century Companies Inc. has reduced its stake in Comstock Resources by 6.5%, now holding 2,537,393 shares valued at approximately $51.6 million.
• In the latest quarter, Comstock Resources reported $0.13 earnings per share, exceeding analysts' expectations of $0.09, with revenue increasing by 90.5% year-over-year.
• Several analysts have adjusted their price targets for Comstock Resources, with Citigroup raising its target to $27, while Piper Sandler lowered it to $10.

American Century Companies Inc. decreased its holdings in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 6.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,537,393 shares of the oil and gas producer's stock after selling 176,963 shares during the quarter. American Century Companies Inc. owned about 0.87% of Comstock Resources worth $51,611,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Comstock Resources by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer's stock valued at $242,301,000 after acquiring an additional 227,638 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Comstock Resources by 79.9% during the 1st quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer's stock valued at $23,507,000 after acquiring an additional 513,190 shares in the last quarter. Corigliano Investment Advisers LLC acquired a new position in shares of Comstock Resources during the 4th quarter valued at $11,450,000. Principal Financial Group Inc. lifted its holdings in shares of Comstock Resources by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 451,327 shares of the oil and gas producer's stock valued at $9,180,000 after acquiring an additional 11,857 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Comstock Resources during the 4th quarter valued at $6,349,000. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Stock Down 0.3%

Shares of CRK traded down $0.05 during midday trading on Monday, hitting $15.31. The company had a trading volume of 1,399,281 shares, compared to its average volume of 2,831,980. The company's 50 day moving average price is $21.51 and its 200 day moving average price is $20.87. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -63.79 and a beta of 0.28. Comstock Resources, Inc. has a 52 week low of $9.09 and a 52 week high of $31.17. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $470.26 million during the quarter, compared to the consensus estimate of $431.82 million. During the same quarter in the prior year, the firm earned ($0.20) EPS. The company's revenue for the quarter was up 90.5% compared to the same quarter last year. On average, 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 several analyst reports. Piper Sandler dropped their price target on shares of Comstock Resources from $12.00 to $10.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. Roth Capital downgraded shares of Comstock Resources from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $18.00 to $12.00 in a research note on Monday, August 18th. Citigroup reaffirmed a "neutral" rating and set a $27.00 price target (up previously from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. UBS Group dropped their price target on shares of Comstock Resources from $18.00 to $14.00 and set a "sell" rating on the stock in a research note on Wednesday, August 20th. Finally, Bank of America lifted their price target on shares of Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $18.25.

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.