Comstock Resources, Inc. (NYSE:CRK) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,714,356 shares of the oil and gas producer’s stock after selling 35,855 shares during the quarter. American Century Companies Inc. owned about 0.93% of Comstock Resources worth $49,456,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. VSM Wealth Advisory LLC purchased a new position in shares of Comstock Resources during the 4th quarter worth $27,000. Intech Investment Management LLC increased its position in Comstock Resources by 37.6% during the fourth quarter. Intech Investment Management LLC now owns 51,804 shares of the oil and gas producer’s stock worth $944,000 after purchasing an additional 14,145 shares during the last quarter. Royce & Associates LP increased its position in Comstock Resources by 13.0% during the fourth quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer’s stock worth $14,201,000 after purchasing an additional 89,630 shares during the last quarter. Natixis Advisors LLC raised its stake in Comstock Resources by 6.6% during the fourth quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock worth $470,000 after purchasing an additional 1,585 shares during the period. Finally, BOK Financial Private Wealth Inc. acquired a new position in Comstock Resources in the 4th quarter valued at about $552,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Trading Down 1.7 %

NYSE CRK opened at $19.93 on Thursday. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $22.06. The firm has a 50 day simple moving average of $19.10 and a 200-day simple moving average of $15.72. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of -26.22, a PEG 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 (NYSE:CRK) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. The business had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. Equities research analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Elizabeth B. Davis sold 8,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.17, for a total transaction of $145,360.00. Following the completion of the transaction, the director now directly owns 99,632 shares of the company’s stock, valued at approximately $1,810,313.44. The trade was a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CRK has been the topic of several analyst reports. Morgan Stanley reaffirmed a “cautious” rating and set a $22.00 price target on shares of Comstock Resources in a research report on Wednesday. Truist Financial upped their price target on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Piper Sandler increased their price target on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Citigroup boosted their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Mizuho raised shares of 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 note on Monday, December 16th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.