J.W. Cole Advisors Inc. Takes Position in Comstock Resources, Inc. (NYSE:CRK)

J.W. Cole Advisors Inc. purchased a new stake in Comstock Resources, Inc. (NYSE:CRK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,855 shares of the oil and gas producer’s stock, valued at approximately $176,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KGH Ltd grew its stake in Comstock Resources by 119.3% during the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after purchasing an additional 4,670,959 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Comstock Resources by 1,479.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 375,547 shares of the oil and gas producer’s stock worth $4,142,000 after purchasing an additional 351,776 shares during the period. Hsbc Holdings PLC grew its stake in Comstock Resources by 280.7% during the third quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock worth $4,556,000 after purchasing an additional 301,863 shares during the period. Barclays PLC grew its stake in Comstock Resources by 139.7% during the third quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock worth $3,600,000 after purchasing an additional 190,254 shares during the period. Finally, Heartland Advisors Inc. grew its stake in Comstock Resources by 13.9% during the third quarter. Heartland Advisors Inc. now owns 1,485,997 shares of the oil and gas producer’s stock worth $18,107,000 after purchasing an additional 180,917 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Stifel Nicolaus decreased their target price on Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group raised their target price on Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, April 2nd. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Thursday, April 4th. Finally, Truist Financial cut 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. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.75.

Insider Activity

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

Comstock Resources Stock Up 1.5 %

Shares of NYSE:CRK opened at $10.30 on Friday. The business’s 50 day simple moving average is $8.72 and its two-hundred day simple moving average is $9.46. The firm has a market cap of $2.87 billion, a P/E ratio of 13.49 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.68 and a current ratio of 0.68. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $13.39.

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