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Townsquare Capital LLC acquired a new stake in shares of Comstock Resources, Inc. (NYSE:CRK – Free Report) in the fourth quarter, HoldingsChannel reports. The fund acquired 11,096 shares of the oil and gas producer’s stock, valued at approximately $202,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Comstock Resources by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer’s stock valued at $1,896,000 after buying an additional 13,998 shares during the last quarter. Barclays PLC raised its position in Comstock Resources by 256.3% during the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after acquiring an additional 111,934 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Comstock Resources in the third quarter valued at approximately $169,000. Smartleaf Asset Management LLC grew its position in Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 2,326 shares in the last quarter. Finally, Savant Capital LLC increased its stake in shares of Comstock Resources by 43.8% during the 4th quarter. Savant Capital LLC now owns 14,800 shares of the oil and gas producer’s stock worth $270,000 after purchasing an additional 4,506 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on CRK. Morgan Stanley reiterated a “cautious” rating and issued a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. UBS Group initiated coverage on Comstock Resources in a report on Tuesday. They set a “neutral” rating and a $19.00 price objective on the stock. Piper Sandler boosted their target price on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Williams Trading set a $13.00 price target on Comstock Resources in a report on Wednesday, March 5th. Finally, Truist Financial boosted their price objective 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. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.23.
Get Our Latest Analysis on CRK
Comstock Resources Stock Up 1.5 %
Shares of CRK opened at $18.50 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The company has a 50-day simple moving average of $19.00 and a 200-day simple moving average of $16.97. Comstock Resources, Inc. has a 52 week low of $7.74 and a 52 week high of $22.06. The firm has a market capitalization of $5.42 billion, a P/E ratio of -24.34, a P/E/G ratio of 1.65 and a beta of 0.42.
Comstock Resources (NYSE:CRK – Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. On average, equities 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.
Further Reading
Want to see what other hedge funds are holding CRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comstock Resources, Inc. (NYSE:CRK – Free Report).
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