Pullen Investment Management LLC Increases Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Pullen Investment Management LLC boosted its stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 47.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,296 shares of the oil and gas producer's stock after purchasing an additional 28,251 shares during the period. Pullen Investment Management LLC's holdings in Comstock Resources were worth $1,609,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new stake in Comstock Resources in the 4th quarter worth approximately $501,000. PharVision Advisers LLC bought a new stake in Comstock Resources in the 4th quarter worth approximately $295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Comstock Resources by 19.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,725 shares of the oil and gas producer's stock valued at $2,692,000 after acquiring an additional 24,320 shares during the period. Vident Advisory LLC grew its position in shares of Comstock Resources by 23.4% during the 4th quarter. Vident Advisory LLC now owns 32,760 shares of the oil and gas producer's stock valued at $597,000 after acquiring an additional 6,211 shares during the period. Finally, Texas Bank & Trust Co bought a new stake in shares of Comstock Resources during the 4th quarter valued at $288,000. Institutional investors own 36.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRK. Wall Street Zen raised shares of Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Morgan Stanley reissued a "cautious" rating and set a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. 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 report on Friday, May 23rd. Mizuho boosted their price objective 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. Finally, UBS Group began coverage on shares of Comstock Resources in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $17.15.

Comstock Resources Price Performance

Shares of CRK traded down $0.28 during trading hours on Thursday, reaching $23.51. 1,208,344 shares of the stock traded hands, compared to its average volume of 2,569,936. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. Comstock Resources, Inc. has a 52-week low of $7.74 and a 52-week high of $24.70. The company's 50-day moving average price is $20.65 and its two-hundred day moving average price is $18.72. The company has a market cap of $6.89 billion, a P/E ratio of -30.93, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14.

Comstock Resources (NYSE:CRK - Get Free Report) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The company had revenue of $512.85 million for the quarter, compared to analysts' expectations of $408.99 million. During the same quarter in the previous year, the company earned ($0.03) EPS. Comstock Resources's revenue for the quarter was up 52.7% on a year-over-year basis. On average, analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

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.