Intech Investment Management LLC Grows Holdings in Comstock Resources, Inc. (NYSE:CRK)

Intech Investment Management LLC grew its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 37.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 51,804 shares of the oil and gas producer’s stock after acquiring an additional 14,145 shares during the period. Intech Investment Management LLC’s holdings in Comstock Resources were worth $944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Comstock Resources by 6.5% during 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 buying an additional 91,988 shares during the last quarter. Royce & Associates LP raised its position in shares of Comstock Resources by 13.0% during 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 acquiring an additional 89,630 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Comstock Resources during the 4th quarter valued at approximately $11,891,000. Principal Financial Group Inc. raised its position in shares of Comstock Resources by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 439,470 shares of the oil and gas producer’s stock valued at $8,007,000 after acquiring an additional 12,257 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Comstock Resources during the 4th quarter valued at approximately $4,430,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total transaction of $163,300.00. Following the transaction, the director now directly owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. This trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 28,000 shares of company stock valued at $478,460. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

CRK has been the topic of several research reports. Citigroup upped their price target on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Williams Trading set a $13.00 price target on Comstock Resources in a research report on Wednesday, March 5th. StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday. Morgan Stanley began coverage on Comstock Resources in a research report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price on the stock. Finally, Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.36.

Comstock Resources Price Performance

Shares of CRK opened at $19.95 on Friday. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of -26.24, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $22.06. The stock’s fifty day moving average is $19.11 and its 200-day moving average is $15.53.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. The company had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. Equities analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Comstock Resources Company 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.