Corigliano Investment Advisers LLC Buys Shares of 628,447 Comstock Resources, Inc. (NYSE:CRK)

Corigliano Investment Advisers LLC purchased a new position in shares of Comstock Resources, Inc. (NYSE:CRK) during the 4th quarter, HoldingsChannel reports. The firm purchased 628,447 shares of the oil and gas producer’s stock, valued at approximately $11,450,000. Comstock Resources accounts for about 5.5% of Corigliano Investment Advisers LLC’s holdings, making the stock its 5th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of CRK. VSM Wealth Advisory LLC acquired a new position in Comstock Resources during the fourth quarter worth $27,000. Sterling Capital Management LLC increased its holdings in shares of Comstock Resources by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 2,631 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Comstock Resources by 225.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 2,326 shares in the last quarter. Quarry LP acquired a new stake in Comstock Resources in the 4th quarter worth approximately $70,000. Finally, KBC Group NV boosted its position in Comstock Resources by 46.8% during 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. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of CRK stock opened at $21.59 on Wednesday. Comstock Resources, Inc. has a 12 month low of $7.74 and a 12 month high of $22.06. The company has a market capitalization of $6.32 billion, a P/E ratio of -28.41, a P/E/G ratio of 1.65 and a beta of 0.14. The stock has a 50 day moving average of $19.06 and a two-hundred day moving average of $17.48. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The firm had revenue of $512.85 million for the quarter, compared to the consensus estimate of $408.99 million. During the same quarter in the previous year, the company earned ($0.03) earnings per share. The business’s revenue was up 52.7% compared to the same quarter last year. As a group, equities analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Williams Trading set a $13.00 price target on shares of Comstock Resources in a research report on Wednesday, March 5th. Truist Financial boosted their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. StockNews.com raised Comstock Resources to a “sell” rating in a research report on Saturday, April 19th. Piper Sandler boosted their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley restated a “cautious” rating and set a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Comstock Resources has a consensus rating of “Hold” and an average price target of $14.23.

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.