McGowan Group Asset Management Inc. Purchases New Position in Comstock Resources, Inc. (NYSE:CRK)

McGowan Group Asset Management Inc. bought a new stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,845 shares of the oil and gas producer's stock, valued at approximately $252,000.

Several other institutional investors have also bought and sold shares of CRK. Bank of Montreal Can lifted its position in shares of Comstock Resources by 1.9% during the 4th quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer's stock worth $747,000 after buying an additional 772 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in Comstock Resources during the fourth quarter valued at $27,000. Natixis Advisors LLC raised its stake in shares of Comstock Resources by 6.6% in the fourth quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer's stock valued at $470,000 after buying an additional 1,585 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Comstock Resources by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer's stock valued at $957,000 after buying an additional 1,793 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Comstock Resources by 46.8% during the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer's stock worth $118,000 after acquiring an additional 2,066 shares during the period. Institutional investors own 36.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CRK. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a research note on Thursday, May 8th. Morgan Stanley reaffirmed a "cautious" rating and set a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Williams Trading set a $13.00 price target on Comstock Resources in a research note on Wednesday, March 5th. UBS Group started coverage on Comstock Resources in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a report on Monday, January 13th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $14.23.

Comstock Resources Trading Down 2.1%

Comstock Resources stock opened at $22.85 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.46 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 $23.88. The stock has a 50-day moving average price of $19.40 and a 200 day moving average price of $17.83. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of -30.07, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (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 firm had revenue of $512.85 million during the quarter, compared to analysts' expectations of $408.99 million. During the same period in the previous year, the business posted ($0.03) EPS. The business's revenue was up 52.7% compared to the same quarter last year. Sell-side analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS 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.

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