MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Position in Comstock Resources, Inc. (NYSE:CRK)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 3.5% during the 4th quarter, Holdings Channel reports. The firm owned 52,539 shares of the oil and gas producer’s stock after buying an additional 1,793 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Comstock Resources were worth $957,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. 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 buying an additional 227,638 shares during the period. Vanguard Group Inc. grew its holdings in Comstock Resources by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer’s stock worth $168,043,000 after acquiring an additional 126,380 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Comstock Resources by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer’s stock valued at $27,436,000 after purchasing an additional 91,988 shares during the last quarter. Royce & Associates LP increased its position in shares of Comstock Resources by 13.0% in the 4th quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer’s stock valued at $14,201,000 after purchasing an additional 89,630 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Comstock Resources in the 4th quarter valued at $11,891,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Up 2.2%

NYSE:CRK opened at $23.74 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The firm’s 50-day moving average price is $20.48 and its 200-day moving average price is $18.64. The company has a market capitalization of $6.95 billion, a PE ratio of -31.24, a P/E/G ratio of 1.65 and a beta of 0.14. Comstock Resources, Inc. has a 1-year low of $7.74 and a 1-year high of $24.48.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, topping 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 business had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Comstock Resources’s quarterly revenue was up 52.7% on a year-over-year basis. On average, equities analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRK has been the subject of several research reports. Piper Sandler reissued an “underweight” rating and issued a $12.00 target price (up from $6.00) on shares of Comstock Resources in a report on Tuesday, May 13th. Wall Street Zen upgraded Comstock Resources to a “sell” rating in a research note on Thursday, May 8th. 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. Mizuho lifted their target price on shares of Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Finally, Morgan Stanley reiterated a “cautious” rating and set a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.50.

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.