New York State Common Retirement Fund Purchases Shares of 89,227 Comstock Resources, Inc. (NYSE:CRK)

New York State Common Retirement Fund purchased a new stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 89,227 shares of the oil and gas producer's stock, valued at approximately $1,815,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in Comstock Resources by 129.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock valued at $42,000 after purchasing an additional 1,170 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in Comstock Resources during the 1st quarter worth $52,000. Sterling Capital Management LLC boosted its position in Comstock Resources by 804.6% in 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 buying an additional 2,631 shares during the last quarter. Quarry LP bought a new position in shares of Comstock Resources during the fourth quarter worth about $70,000. Finally, GAMMA Investing LLC lifted its position in shares of Comstock Resources by 17.6% during the first quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer's stock worth $138,000 after purchasing an additional 1,017 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CRK. Piper Sandler reaffirmed an "underweight" rating and set a $12.00 price target (up previously from $6.00) on shares of Comstock Resources in a research report on Tuesday, May 13th. Mizuho increased their price target on shares of Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wolfe Research raised shares of Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price target on the stock in a research report on Tuesday, June 17th. Citigroup reiterated a "neutral" rating and set a $27.00 price objective (up previously from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Comstock Resources to a "sell" rating in a research note on Thursday, May 8th. Five analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.82.

Comstock Resources Stock Performance

Shares of NYSE:CRK traded down $0.52 on Friday, hitting $20.70. 1,418,403 shares of the company were exchanged, compared to its average volume of 2,566,860. The company's 50 day moving average price is $24.67 and its two-hundred day moving average price is $21.33. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $31.17. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of -18.64 and a beta of 0.37.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Comstock Resources had a negative net margin of 23.39% and a negative return on equity of 0.67%. The company had revenue of $512.85 million for the quarter, compared to the consensus estimate of $408.99 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business's revenue was up 52.7% compared to the same quarter last year. Research analysts expect 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.