Bank of Montreal Can Has $747,000 Position in Comstock Resources, Inc. (NYSE:CRK)

Bank of Montreal Can lifted its stake in Comstock Resources, Inc. (NYSE:CRK) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,983 shares of the oil and gas producer’s stock after acquiring an additional 772 shares during the quarter. Bank of Montreal Can’s holdings in Comstock Resources were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. VSM Wealth Advisory LLC acquired a new position in Comstock Resources in the 4th quarter worth about $27,000. Smartleaf Asset Management LLC increased its holdings in Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 2,326 shares during the last quarter. KBC Group NV raised 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 valued at $118,000 after acquiring an additional 2,066 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Comstock Resources in the third quarter valued at approximately $169,000. Finally, Blue Trust Inc. grew its position in Comstock Resources by 56.4% in the fourth quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer’s stock worth $191,000 after acquiring an additional 3,787 shares in the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Price Performance

NYSE:CRK opened at $19.73 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $22.06. The company has a fifty day moving average price of $18.99 and a 200 day moving average price of $16.87. The stock has a market cap of $5.78 billion, a P/E ratio of -25.96, a PEG ratio of 1.65 and a beta of 0.42.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The business had revenue of $366.51 million during the quarter, compared to analyst estimates of $370.62 million. Analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a research note on Wednesday, March 5th. Piper Sandler upped their price target on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. StockNews.com raised Comstock Resources to a “sell” rating in a report on Saturday. Morgan Stanley restated a “cautious” rating and issued a $22.00 target price (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Finally, Truist Financial increased their price target on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 13th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.73.

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.