Uniting Wealth Partners LLC Buys Shares of 19,500 Comstock Resources, Inc. (NYSE:CRK)

Uniting Wealth Partners LLC purchased a new position in Comstock Resources, Inc. (NYSE:CRK) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 19,500 shares of the oil and gas producer’s stock, valued at approximately $355,000.

Other institutional investors have also made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new position in Comstock Resources in the fourth quarter valued at about $27,000. Sunbelt Securities Inc. grew its holdings in Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,400 shares during the period. Smartleaf Asset Management LLC increased its stake in Comstock Resources by 225.2% in 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 purchasing an additional 2,326 shares in the last quarter. KBC Group NV raised its holdings in Comstock Resources by 46.8% in the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after purchasing an additional 2,066 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Comstock Resources by 56.4% during the fourth quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer’s stock worth $191,000 after purchasing an additional 3,787 shares in the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Trading Up 5.6 %

Shares of NYSE:CRK opened at $21.49 on Thursday. The stock has a market capitalization of $6.29 billion, a PE ratio of -28.28, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The company’s 50-day moving average price is $18.98 and its two-hundred day moving average price is $16.12. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $22.06.

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 the consensus estimate of $0.02 by $0.14. The firm had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. On average, equities analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on CRK shares. Truist Financial upped their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Williams Trading set a $13.00 price target on Comstock Resources in a report on Wednesday, March 5th. Morgan Stanley reiterated a “cautious” rating and issued a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Piper Sandler raised their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a report on Thursday, March 20th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Comstock Resources presently has a consensus rating of “Hold” and a consensus target price of $13.73.

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.