Comstock Resources, Inc. (NYSE:CRK) is Share Andrew L.'s 3rd Largest Position

Share Andrew L. trimmed its holdings in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 36.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,000 shares of the oil and gas producer's stock after selling 75,000 shares during the period. Comstock Resources comprises approximately 1.9% of Share Andrew L.'s holdings, making the stock its 3rd biggest holding. Share Andrew L.'s holdings in Comstock Resources were worth $2,644,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. VSM Wealth Advisory LLC purchased a new stake in Comstock Resources in the 4th quarter worth approximately $27,000. Sterling Capital Management LLC grew its position in shares of Comstock Resources by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer's stock valued at $54,000 after purchasing an additional 2,631 shares during the period. Smartleaf Asset Management LLC increased its stake in 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 valued at $64,000 after purchasing an additional 2,326 shares during the last quarter. Quarry LP purchased a new position in Comstock Resources during the fourth quarter worth about $70,000. Finally, GAMMA Investing LLC boosted its stake in Comstock Resources by 17.6% in the 1st quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer's stock worth $138,000 after buying an additional 1,017 shares during the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Performance

NYSE:CRK opened at $26.47 on Tuesday. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of -34.83, a PEG ratio of 1.65 and a beta of 0.32. The firm's fifty day simple moving average is $21.92 and its 200 day simple moving average is $19.66. Comstock Resources, Inc. has a twelve month low of $7.74 and a twelve month high of $26.75.

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 for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $512.85 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) EPS. As a group, equities research analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CRK shares. Morgan Stanley reiterated a "cautious" rating and set a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. 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. Bank of America boosted their price objective on shares of Comstock Resources from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Piper Sandler reaffirmed an "underweight" rating and issued a $12.00 target price (up from $6.00) on shares of Comstock Resources in a research report on Tuesday, May 13th. Finally, Williams Trading set a $13.00 target price on Comstock Resources in a report on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $18.30.

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.

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