Stifel Financial Corp Reduces Holdings in Comstock Resources, Inc. (NYSE:CRK)

Stifel Financial Corp lessened its position in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 27.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 562,227 shares of the oil and gas producer's stock after selling 215,597 shares during the quarter. Stifel Financial Corp owned about 0.19% of Comstock Resources worth $10,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRK. Raymond James Financial Inc. purchased a new stake in shares of Comstock Resources in the 4th quarter valued at approximately $11,891,000. Marshall Wace LLP acquired a new stake in Comstock Resources during the 4th quarter worth approximately $6,329,000. Edgestream Partners L.P. acquired a new position in Comstock Resources in the 4th quarter valued at $4,430,000. Dimensional Fund Advisors LP increased its stake in shares of Comstock Resources by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer's stock worth $242,301,000 after acquiring an additional 227,638 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Comstock Resources by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer's stock worth $168,043,000 after purchasing an additional 126,380 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Trading Up 7.3 %

NYSE:CRK traded up $1.38 on Friday, reaching $20.25. The stock had a trading volume of 2,756,716 shares, compared to its average volume of 2,641,367. The company has a market cap of $5.93 billion, a price-to-earnings ratio of -26.64, a P/E/G ratio of 1.65 and a beta of 0.42. The firm's fifty day moving average is $18.93 and its two-hundred day moving average is $17.34. Comstock Resources, Inc. has a 12-month low of $7.74 and a 12-month high of $22.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CRK. Morgan Stanley reiterated 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. Williams Trading set a $13.00 target price on Comstock Resources in a report on Wednesday, March 5th. Truist Financial upped their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a research note on Saturday, April 19th. Finally, UBS Group initiated coverage on shares of Comstock Resources in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 target price on the stock. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Comstock Resources has an average rating of "Hold" and an average price target of $14.23.

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.