Texas Bank & Trust Co Invests $288,000 in Comstock Resources, Inc. (NYSE:CRK)

Texas Bank & Trust Co purchased a new stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,790 shares of the oil and gas producer's stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRK. VSM Wealth Advisory LLC purchased a new position in shares of Comstock Resources during the 4th quarter worth $27,000. Sterling Capital Management LLC raised its holdings 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 worth $54,000 after purchasing an additional 2,631 shares during the period. Smartleaf Asset Management LLC raised its holdings in Comstock Resources by 225.2% in the 4th 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 period. Quarry LP purchased a new position in Comstock Resources during the fourth quarter valued at $70,000. Finally, KBC Group NV lifted its position in Comstock Resources by 46.8% during the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer's stock valued at $118,000 after purchasing an additional 2,066 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRK. Morgan Stanley reaffirmed a "cautious" rating and issued a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. UBS Group began coverage on shares of Comstock Resources in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 target price for the company. 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 report on Tuesday, May 13th. Wall Street Zen upgraded shares of Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Finally, Williams Trading set a $13.00 price objective on shares of Comstock Resources in a research report on Wednesday, March 5th. Five research 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 MarketBeat, the stock has an average rating of "Hold" and an average price target of $15.32.

Comstock Resources Price Performance

CRK traded down $0.13 during trading on Thursday, hitting $23.26. 1,277,706 shares of the company traded hands, compared to its average volume of 2,590,590. 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 company has a market cap of $6.81 billion, a PE ratio of -30.60, a P/E/G ratio of 1.65 and a beta of 0.14. The stock's 50-day simple moving average is $20.23 and its two-hundred day simple moving average is $18.33. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $24.48.

Comstock Resources (NYSE:CRK - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, beating the consensus estimate 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 business had revenue of $512.85 million during the quarter, compared to the consensus estimate of $408.99 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The business's revenue was up 52.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

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.