Charles Schwab Investment Management Inc. Has $30.27 Million Stock Holdings in Comstock Resources, Inc. $CRK

Key Points

• Charles Schwab Investment Management Inc. sold 17,729 shares of Comstock Resources, decreasing its stake to 1,488,079 shares, worth approximately $30.27 million.
• Recent analysis shows a range of target price updates for Comstock Resources, with Bank of America increasing its target from $25 to $27, while Morgan Stanley lowered theirs from $21 to $19.
• Comstock Resources reported a quarterly earnings per share (EPS) of $0.13, exceeding expectations and marking a significant 90.5% year-over-year revenue growth.

Charles Schwab Investment Management Inc. lessened its position in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,488,079 shares of the oil and gas producer's stock after selling 17,729 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.51% of Comstock Resources worth $30,268,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in 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 valued at $242,301,000 after purchasing an additional 227,638 shares in the last quarter. Corigliano Investment Advisers LLC bought a new stake in shares of Comstock Resources during the fourth quarter worth $11,450,000. Principal Financial Group Inc. increased its position in shares of Comstock Resources by 2.7% during the first quarter. Principal Financial Group Inc. now owns 451,327 shares of the oil and gas producer's stock worth $9,180,000 after acquiring an additional 11,857 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Comstock Resources during the fourth quarter worth $6,349,000. Finally, Marshall Wace LLP bought a new stake in shares of Comstock Resources during the fourth quarter worth $6,329,000. Institutional investors own 36.13% of the company's stock.

Comstock Resources Stock Performance

CRK stock traded down $0.05 during trading hours on Monday, reaching $15.31. The stock had a trading volume of 1,399,281 shares, compared to its average volume of 2,831,980. The stock has a market capitalization of $4.49 billion, a PE ratio of -63.79 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. The stock has a 50-day simple moving average of $21.51 and a 200 day simple moving average of $20.87. Comstock Resources, Inc. has a fifty-two week low of $9.09 and a fifty-two week high of $31.17.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.04. The firm had revenue of $470.26 million during the quarter, compared to analysts' expectations of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The company's revenue for the quarter was up 90.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.20) earnings per share. Analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRK has been the subject of a number of analyst reports. Wolfe Research raised shares of Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 target price for the company in a research report on Tuesday, June 17th. Citigroup reaffirmed a "neutral" rating and issued a $27.00 target price (up previously from $22.00) on shares of Comstock Resources in a research report on Friday, June 13th. Mizuho raised their target price on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Roth Capital downgraded shares of Comstock Resources from a "neutral" rating to a "sell" rating and decreased their target price for the company from $18.00 to $12.00 in a research report on Monday, August 18th. Finally, Wall Street Zen raised shares of Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Comstock Resources currently has an average rating of "Reduce" and a consensus target price of $18.25.

About Comstock Resources

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.