Dimensional Fund Advisors LP Grows Holdings in Comstock Resources, Inc. (NYSE:CRK)

Dimensional Fund Advisors LP increased its stake in Comstock Resources, Inc. (NYSE:CRK) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,297,863 shares of the oil and gas producer’s stock after buying an additional 227,638 shares during the period. Dimensional Fund Advisors LP owned about 4.55% of Comstock Resources worth $242,301,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC bought a new stake in shares of Comstock Resources in the 4th quarter worth about $27,000. Sterling Capital Management LLC increased its holdings in Comstock Resources by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after buying an additional 2,631 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 2,326 shares in the last quarter. KBC Group NV lifted its holdings in Comstock Resources by 46.8% during the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 2,066 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Comstock Resources in the 3rd quarter worth approximately $169,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $18.67 on Tuesday. The business’s 50 day moving average is $19.00 and its 200-day moving average is $16.95. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $5.47 billion, a PE ratio of -24.57, a PEG ratio of 1.65 and a beta of 0.42. Comstock Resources, Inc. has a 1-year low of $7.74 and a 1-year high of $22.06.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The firm had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. Sell-side analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on CRK. Truist Financial lifted their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 13th. Morgan Stanley reiterated a “cautious” rating and set a $22.00 price target (up from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a research note on Wednesday, March 5th. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research note on Saturday. Finally, Piper Sandler lifted their price target on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.73.

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.