Hsbc Holdings PLC Trims Position in Comstock Resources, Inc. (NYSE:CRK)

Hsbc Holdings PLC reduced its holdings in Comstock Resources, Inc. (NYSE:CRKFree Report) by 66.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,697 shares of the oil and gas producer’s stock after selling 270,709 shares during the period. Hsbc Holdings PLC’s holdings in Comstock Resources were worth $1,234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Barclays PLC boosted its stake in shares of Comstock Resources by 139.7% in the third quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock worth $3,600,000 after buying an additional 190,254 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Comstock Resources by 2.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 309,327 shares of the oil and gas producer’s stock worth $3,412,000 after purchasing an additional 6,891 shares during the period. Charles Schwab Investment Management Inc. grew its stake 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 during the period. Deutsche Bank AG lifted its stake in shares of Comstock Resources by 13.1% in the 3rd quarter. Deutsche Bank AG now owns 46,858 shares of the oil and gas producer’s stock valued at $517,000 after purchasing an additional 5,411 shares during the period. Finally, Foundry Partners LLC lifted its stake in shares of Comstock Resources by 44.3% in the 3rd quarter. Foundry Partners LLC now owns 524,041 shares of the oil and gas producer’s stock valued at $5,780,000 after purchasing an additional 160,786 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

Analyst Upgrades and Downgrades

CRK has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price objective on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Mizuho upped their price target on Comstock Resources from $10.00 to $11.00 and gave the stock an “underperform” rating in a report on Monday, May 13th. StockNews.com raised Comstock Resources to a “sell” rating in a report on Monday, April 29th. The Goldman Sachs Group upped their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “sell” rating in a research note on Tuesday, May 28th. Finally, Truist Financial decreased their target price on Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.25.

Read Our Latest Stock Report on CRK

Comstock Resources Stock Performance

Shares of NYSE:CRK opened at $11.70 on Monday. The business’s 50 day moving average price is $10.30 and its 200-day moving average price is $9.17. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $13.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $3.42 billion, a PE ratio of 53.18 and a beta of 0.60.

Comstock Resources (NYSE:CRKGet Free Report) last announced its earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.05. The company had revenue of $335.77 million for the quarter, compared to analysts’ expectations of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The firm’s quarterly revenue was down 31.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, equities research analysts expect that Comstock Resources, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the stock in a transaction 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 completion of the purchase, the insider now owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

Comstock Resources Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Comstock Resources (NYSE:CRK)

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