Bank of America Corp DE lessened its holdings in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 83.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 113,161 shares of the oil and gas producer's stock after selling 573,926 shares during the quarter. Bank of America Corp DE's holdings in Comstock Resources were worth $2,062,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRK. Aptus Capital Advisors LLC bought a new stake in Comstock Resources in the 4th quarter worth approximately $3,499,000. Quarry LP bought a new stake in Comstock Resources in the 4th quarter worth approximately $70,000. Susquehanna Fundamental Investments LLC bought a new stake in Comstock Resources in the 4th quarter worth approximately $6,349,000. Price T Rowe Associates Inc. MD increased its stake in Comstock Resources by 11.4% in the 4th 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 acquiring an additional 6,741 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Comstock Resources in the 4th quarter worth approximately $194,000. Institutional investors own 36.13% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Morgan Stanley reaffirmed a "cautious" rating and issued a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Bank of America lifted their target price on Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Piper Sandler reiterated an "underweight" rating and issued a $12.00 target price (up previously from $6.00) on shares of Comstock Resources in a report on Tuesday, May 13th. Wall Street Zen upgraded Comstock Resources to a "sell" rating in a report on Thursday, May 8th. Finally, Mizuho lifted their target price on Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Comstock Resources currently has a consensus rating of "Hold" and an average price target of $17.15.
Check Out Our Latest Analysis on Comstock Resources
Comstock Resources Trading Up 0.8%
Comstock Resources stock traded up $0.20 during mid-day trading on Friday, hitting $24.43. The company's stock had a trading volume of 2,116,086 shares, compared to its average volume of 2,543,307. The company has a 50 day moving average of $21.17 and a 200-day moving average of $19.20. The stock has a market cap of $7.16 billion, a PE ratio of -32.14, a P/E/G ratio of 1.65 and a beta of 0.32. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $25.02.
Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $408.99 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. Comstock Resources's quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) EPS. On average, research analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current year.
About Comstock Resources
(
Free Report)
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.
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