Man Group plc Grows Stock Holdings in Comstock Resources, Inc. (NYSE:CRK)

Man Group plc raised its position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,983 shares of the oil and gas producer's stock after purchasing an additional 17,937 shares during the period. Man Group plc's holdings in Comstock Resources were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CRK. Raymond James Financial Inc. bought a new position in Comstock Resources during the fourth quarter valued at $11,891,000. Corigliano Investment Advisers LLC purchased a new stake in shares of Comstock Resources during the fourth quarter worth $11,450,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Comstock Resources during the fourth quarter worth $6,349,000. Marshall Wace LLP purchased a new stake in shares of Comstock Resources during the fourth quarter worth $6,329,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Comstock Resources during the fourth quarter worth $4,430,000. 36.13% of the stock is owned by institutional investors.

Comstock Resources Price Performance

NYSE CRK traded down $0.09 during trading hours on Thursday, reaching $23.70. 226,282 shares of the stock traded hands, compared to its average volume of 2,330,203. The stock has a 50 day simple moving average of $20.65 and a two-hundred day simple moving average of $18.72. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $24.70. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The company has a market cap of $6.94 billion, a price-to-earnings ratio of -31.12, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $512.85 million for the quarter, compared to analysts' expectations of $408.99 million. During the same period last year, the firm earned ($0.03) earnings per share. The company's revenue for the quarter was up 52.7% compared to the same quarter last year. On average, analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CRK shares. Mizuho increased their target price on Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Piper Sandler restated an "underweight" rating and set a $12.00 target price (up previously from $6.00) on shares of Comstock Resources in a research report on Tuesday, May 13th. Morgan Stanley restated a "cautious" rating and set a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Bank of America increased their target price on Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, UBS Group started coverage on Comstock Resources in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $17.15.

Comstock Resources 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.