Stratos Wealth Partners LTD. Invests $97,000 in Comstock Resources, Inc. (NYSE:CRK)

Stratos Wealth Partners LTD. acquired a new position in shares of Comstock Resources, Inc. (NYSE:CRK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,004 shares of the oil and gas producer’s stock, valued at approximately $97,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Comstock Resources by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,263 shares of the oil and gas producer’s stock worth $10,173,000 after purchasing an additional 60,830 shares in the last quarter. Hsbc Holdings PLC lifted its position in Comstock Resources by 280.7% in the 3rd quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock valued at $4,556,000 after acquiring an additional 301,863 shares in the last quarter. Barclays PLC lifted its position in Comstock Resources by 139.7% in the 3rd quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock valued at $3,600,000 after acquiring an additional 190,254 shares in the last quarter. KGH Ltd lifted its position in Comstock Resources by 119.3% in the 3rd quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock valued at $94,704,000 after acquiring an additional 4,670,959 shares in the last quarter. Finally, Wealthsource Partners LLC bought a new position in Comstock Resources in the 4th quarter valued at about $134,000. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of NYSE CRK opened at $9.19 on Thursday. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $13.39. The stock’s 50 day moving average price is $8.50 and its 200-day moving average price is $9.50. The company has a market capitalization of $2.56 billion, a PE ratio of 12.09 and a beta of 0.70. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.11.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The company had revenue of $410.58 million during the quarter, compared to the consensus estimate of $401.97 million. Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The company’s revenue for the quarter was down 55.5% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. On average, equities analysts anticipate that Comstock Resources, Inc. will post 0.06 EPS for the current year.

Wall Street Analyst Weigh In

CRK has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on shares of Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus dropped their price target on shares of Comstock Resources from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Truist Financial dropped their price target on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Tuesday, February 13th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Thursday, April 4th. Finally, Mizuho cut their target price on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Comstock Resources has an average rating of “Hold” and an average target price of $10.00.

Insider Buying and Selling

In related news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the acquisition, the insider now owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by insiders.

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.