Comstock Resources, Inc. $CRK Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in Comstock Resources, Inc. (NYSE:CRK) by 10,032.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 359,307 shares of the oil and gas producer’s stock after acquiring an additional 355,761 shares during the period. Federated Hermes Inc. owned approximately 0.12% of Comstock Resources worth $7,125,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRK. Bank of America Corp DE lifted its stake in shares of Comstock Resources by 344.5% in the 2nd quarter. Bank of America Corp DE now owns 1,853,846 shares of the oil and gas producer’s stock valued at $51,296,000 after purchasing an additional 1,436,746 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Comstock Resources by 67.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock worth $22,107,000 after purchasing an additional 437,476 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Comstock Resources by 195.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 588,033 shares of the oil and gas producer’s stock valued at $16,271,000 after buying an additional 389,261 shares during the period. HRT Financial LP lifted its position in Comstock Resources by 1,506.1% in the second quarter. HRT Financial LP now owns 237,131 shares of the oil and gas producer’s stock valued at $6,561,000 after buying an additional 222,367 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Comstock Resources by 89.3% in the second quarter. Ameriprise Financial Inc. now owns 389,989 shares of the oil and gas producer’s stock valued at $10,791,000 after buying an additional 183,944 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of CRK opened at $22.06 on Tuesday. The company has a market cap of $6.46 billion, a P/E ratio of 88.22 and a beta of 0.39. Comstock Resources, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $31.17. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.19. The firm’s 50 day moving average price is $23.34 and its 200 day moving average price is $20.42.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Comstock Resources had a net margin of 3.14% and a return on equity of 6.71%. The business had revenue of $449.85 million during the quarter, compared to the consensus estimate of $433.54 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The company’s quarterly revenue was up 47.8% compared to the same quarter last year. On average, research analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRK. Zacks Research upgraded shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comstock Resources in a research report on Monday, December 29th. Piper Sandler cut their target price on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 18th. Bank of America cut Comstock Resources from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $24.00 in a research note on Friday, January 16th. Finally, UBS Group restated a “sell” rating and set a $18.00 price target (up from $16.00) on shares of Comstock Resources in a research report on Friday, December 12th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $20.33.

About Comstock Resources

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.