Toroso Investments LLC Makes New $1.72 Million Investment in Comstock Resources, Inc. (NYSE:CRK)

Toroso Investments LLC purchased a new position in shares of Comstock Resources, Inc. (NYSE:CRK) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 159,603 shares of the oil and gas producer’s stock, valued at approximately $1,722,000. Toroso Investments LLC owned approximately 0.06% of Comstock Resources at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raymond James & Associates raised its stake in Comstock Resources by 14.3% in the fourth quarter. Raymond James & Associates now owns 75,289 shares of the oil and gas producer’s stock valued at $1,032,000 after buying an additional 9,439 shares during the last quarter. Callahan Advisors LLC boosted its stake in Comstock Resources by 11.1% in the 1st quarter. Callahan Advisors LLC now owns 13,000 shares of the oil and gas producer’s stock worth $140,000 after purchasing an additional 1,294 shares in the last quarter. Maryland State Retirement & Pension System purchased a new stake in Comstock Resources during the 1st quarter worth approximately $398,000. Amalgamated Bank increased its stake in Comstock Resources by 183.2% during the 1st quarter. Amalgamated Bank now owns 41,570 shares of the oil and gas producer’s stock valued at $449,000 after purchasing an additional 26,893 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of Comstock Resources in the first quarter worth $259,000. Hedge funds and other institutional investors own 32.58% of the company’s stock.

Comstock Resources Price Performance

NYSE:CRK opened at $11.62 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.37 and a quick ratio of 0.37. The company has a 50 day moving average price of $12.04 and a 200-day moving average price of $11.11. Comstock Resources, Inc. has a 1-year low of $9.07 and a 1-year high of $21.17. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 3.35 and a beta of 1.23.

Comstock Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.30%. Comstock Resources’s dividend payout ratio (DPR) is currently 14.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CRK shares. Piper Sandler cut their target price on Comstock Resources from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, August 14th. Mizuho reduced their price objective on Comstock Resources from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, August 16th. StockNews.com initiated coverage on Comstock Resources in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. Truist Financial raised their price target on shares of Comstock Resources from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Monday, September 11th. Finally, Stifel Nicolaus upped their price objective on shares of Comstock Resources from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, August 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.88.

Comstock Resources Company Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. The company was incorporated in 1919 and is based in Frisco, Texas.