Comstock Resources, Inc. (NYSE:CRK) Stock Holdings Lifted by Arizona State Retirement System

Arizona State Retirement System boosted its stake in shares of Comstock Resources, Inc. (NYSE:CRK – Get Rating) by 3.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,317 shares of the oil and gas producer’s stock after purchasing an additional 1,000 shares during the period. Arizona State Retirement System’s holdings in Comstock Resources were worth $361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its position in Comstock Resources by 3.3% during the third quarter. MetLife Investment Management LLC now owns 47,805 shares of the oil and gas producer’s stock valued at $827,000 after purchasing an additional 1,531 shares in the last quarter. LSV Asset Management grew its position in Comstock Resources by 22.6% during the third quarter. LSV Asset Management now owns 352,974 shares of the oil and gas producer’s stock valued at $6,103,000 after purchasing an additional 65,074 shares in the last quarter. Cross Staff Investments Inc grew its position in Comstock Resources by 6.8% during the fourth quarter. Cross Staff Investments Inc now owns 477,370 shares of the oil and gas producer’s stock valued at $6,545,000 after purchasing an additional 30,568 shares in the last quarter. Clarus Group Inc. grew its position in Comstock Resources by 19.5% during the third quarter. Clarus Group Inc. now owns 123,113 shares of the oil and gas producer’s stock valued at $2,129,000 after purchasing an additional 20,082 shares in the last quarter. Finally, Algert Global LLC grew its position in Comstock Resources by 62.4% in the third quarter. Algert Global LLC now owns 136,087 shares of the oil and gas producer’s stock worth $2,353,000 after acquiring an additional 52,299 shares in the last quarter. 35.22% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Down 2.1 %

Shares of NYSE:CRK opened at $10.32 on Monday. Comstock Resources, Inc. has a 12 month low of $9.20 and a 12 month high of $22.11. The company’s 50-day moving average price is $10.52 and its two-hundred day moving average price is $12.96. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.91. The firm has a market cap of $2.86 billion, a P/E ratio of 2.06 and a beta of 1.19.

Comstock Resources (NYSE:CRK – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The oil and gas producer reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. Comstock Resources had a net margin of 39.08% and a return on equity of 52.26%. The firm had revenue of $489.58 million for the quarter, compared to analyst estimates of $433.84 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue was down 6.7% on a year-over-year basis. As a group, research analysts forecast that Comstock Resources, Inc. will post 0.99 EPS for the current fiscal year.

Comstock Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Wednesday, May 31st. Comstock Resources’s dividend payout ratio is currently 10.00%.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup raised shares of Comstock Resources from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $10.00 to $12.00 in a research report on Wednesday, April 19th. Truist Financial decreased their target price on shares of Comstock Resources from $12.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, April 11th. StockNews.com assumed coverage on shares of Comstock Resources in a research note on Thursday. They issued a “hold” rating for the company. The Goldman Sachs Group reduced their price objective on shares of Comstock Resources from $14.00 to $12.00 and set a “sell” rating for the company in a research note on Wednesday, January 25th. Finally, Stifel Nicolaus reduced their price objective on shares of Comstock Resources from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Comstock Resources currently has a consensus rating of “Hold” and an average target price of $13.61.

Insiders Place Their Bets

In other Comstock Resources news, VP Brian Christopher Claunch bought 5,000 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were bought at an average cost of $10.08 per share, for a total transaction of $50,400.00. Following the transaction, the vice president now owns 36,764 shares in the company, valued at approximately $370,581.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Comstock Resources news, CFO Roland O. Burns bought 10,000 shares of the business’s stock in a transaction on Thursday, March 23rd. The shares were bought at an average cost of $10.00 per share, for a total transaction of $100,000.00. Following the transaction, the chief financial officer now owns 950,430 shares in the company, valued at approximately $9,504,300. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brian Christopher Claunch purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was purchased at an average price of $10.08 per share, for a total transaction of $50,400.00. Following the completion of the transaction, the vice president now directly owns 36,764 shares in the company, valued at $370,581.12. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Comstock Resources Company Profile

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Comstock Resources, Inc engages in the acquisition, development, and exploration of oil and natural gas. The firm operations concentrated in the Haynesville shale, a premier natural gas basin located in East Texas. The company was founded in 1919 and is headquartered in Frisco, TX.