Mirae Asset Global Investments Co. Ltd. Purchases 2,310 Shares of Comstock Resources, Inc. (NYSE:CRK)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,381 shares of the oil and gas producer’s stock after buying an additional 2,310 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Comstock Resources were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. bought a new position in Comstock Resources during the fourth quarter valued at approximately $97,000. Wealthsource Partners LLC purchased a new stake in Comstock Resources during the fourth quarter valued at approximately $134,000. SG Americas Securities LLC raised its position in Comstock Resources by 4.6% during the fourth quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock valued at $477,000 after purchasing an additional 2,389 shares during the period. Woodstock Corp purchased a new stake in Comstock Resources during the fourth quarter valued at approximately $88,000. Finally, Wesbanco Bank Inc. raised its position in Comstock Resources by 24.4% during the third quarter. Wesbanco Bank Inc. now owns 149,549 shares of the oil and gas producer’s stock valued at $1,650,000 after purchasing an additional 29,300 shares during the period. 36.13% of the stock is owned by institutional investors.

Comstock Resources Trading Up 0.2 %

CRK opened at $10.33 on Friday. The stock’s fifty day moving average is $8.78 and its two-hundred day moving average is $9.47. The company has a market capitalization of $2.87 billion, a P/E ratio of 13.58 and a beta of 0.70. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $13.39. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.11.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $410.58 million for the quarter, compared to analysts’ expectations of $401.97 million. Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The company’s revenue for the quarter was down 55.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share. Analysts forecast that Comstock Resources, Inc. will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRK. Stifel Nicolaus decreased their price objective on Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a research report on Tuesday. The Goldman Sachs Group increased their price target on Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Tuesday, April 2nd. Truist Financial reduced their price target on Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, February 13th. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Thursday, April 4th. Finally, Piper Sandler reduced their price target on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.75.

Insider Buying and Selling at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were acquired at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the transaction, the insider now owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

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.