Fernwood Investment Management LLC Makes New Investment in Comstock Resources, Inc. (NYSE:CRK)

Fernwood Investment Management LLC bought a new position in shares of Comstock Resources, Inc. (NYSE:CRK) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 52,630 shares of the oil and gas producer’s stock, valued at approximately $959,000.

Several other large investors also recently made changes to their positions in CRK. VSM Wealth Advisory LLC acquired a new stake in shares of Comstock Resources during the 4th quarter valued at $27,000. Sunbelt Securities Inc. lifted its stake 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 buying an additional 1,400 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of 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 worth $64,000 after buying an additional 2,326 shares during the period. KBC Group NV increased its position in shares of 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 acquiring an additional 2,066 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings 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 valued at $191,000 after acquiring an additional 3,787 shares during the period. Institutional investors own 36.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler increased their target price on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Morgan Stanley reiterated a “cautious” rating and issued a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Friday, April 4th. Finally, Williams Trading set a $13.00 target price on Comstock Resources in a research report on Wednesday, March 5th. Five investment 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.73.

Comstock Resources Stock Performance

Comstock Resources stock opened at $17.34 on Wednesday. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $22.06. The company’s 50-day moving average is $18.82 and its two-hundred day moving average is $16.40. 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 company has a market cap of $5.08 billion, a PE ratio of -22.81, a PEG ratio of 1.65 and a beta of 0.42.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, beating 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 business had revenue of $366.51 million for the quarter, compared to the consensus estimate of $370.62 million. Equities analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

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.