Highland Capital Management LLC Takes $218,000 Position in Comstock Resources, Inc. (NYSE:CRK)

Highland Capital Management LLC purchased a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,716 shares of the oil and gas producer's stock, valued at approximately $218,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Townsquare Capital LLC purchased a new stake in shares of Comstock Resources in the fourth quarter valued at $202,000. Sterling Capital Management LLC grew its holdings in Comstock Resources by 804.6% during the 4th 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 last quarter. Smartleaf Asset Management LLC lifted 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 worth $64,000 after purchasing an additional 2,326 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Comstock Resources by 2,291.5% during the first quarter. GAMMA Investing LLC now owns 138,373 shares of the oil and gas producer's stock valued at $2,815,000 after buying an additional 132,587 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Comstock Resources by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer's stock valued at $27,436,000 after buying an additional 91,988 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company's stock.

Comstock Resources Stock Down 0.5%

NYSE:CRK traded down $0.12 during trading hours on Wednesday, reaching $25.14. The company's stock had a trading volume of 1,197,427 shares, compared to its average volume of 2,516,841. Comstock Resources, Inc. has a 12 month low of $7.74 and a 12 month high of $31.17. The stock has a 50 day moving average price of $24.09 and a two-hundred day moving average price of $20.65. The company has a market capitalization of $7.36 billion, a P/E ratio of -22.65 and a beta of 0.36. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.40 and a current ratio of 0.40.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $512.85 million during the quarter, compared to analysts' expectations of $408.99 million. Comstock Resources had a negative return on equity of 0.67% and a negative net margin of 23.39%. The firm's quarterly revenue was up 52.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS. Equities 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 recent analyst reports. UBS Group initiated coverage on Comstock Resources in a report on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 price objective for the company. Mizuho lifted their price objective on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Morgan Stanley restated a "cautious" rating and issued a $22.00 target price (up from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Wall Street Zen raised shares of Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Finally, Citigroup reiterated a "neutral" rating and issued a $27.00 price target (up previously from $22.00) on shares of Comstock Resources in a report on Friday, June 13th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $19.73.

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.