Deutsche Bank AG Acquires 42,296 Shares of Comstock Resources, Inc. (NYSE:CRK)

Deutsche Bank AG raised its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 72.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,520 shares of the oil and gas producer’s stock after buying an additional 42,296 shares during the quarter. Deutsche Bank AG’s holdings in Comstock Resources were worth $1,831,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CRK. Dimensional Fund Advisors LP increased its position in Comstock Resources by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer’s stock worth $242,301,000 after acquiring an additional 227,638 shares during the period. Vanguard Group Inc. grew its position in Comstock Resources by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer’s stock worth $168,043,000 after purchasing an additional 126,380 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Comstock Resources by 6.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer’s stock worth $27,436,000 after purchasing an additional 91,988 shares during the period. Royce & Associates LP increased its holdings in shares of Comstock Resources by 13.0% during the 4th quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer’s stock worth $14,201,000 after purchasing an additional 89,630 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Comstock Resources during the fourth quarter valued at about $11,891,000. 36.13% of the stock is owned by institutional investors.

Comstock Resources Stock Performance

Shares of NYSE:CRK opened at $23.74 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. The business’s fifty day moving average price is $20.41 and its two-hundred day moving average price is $18.49. Comstock Resources, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $24.48. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -31.24, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The business had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The firm’s quarterly revenue was up 52.7% compared to the same quarter last year. As a group, analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley restated a “cautious” rating and set a $22.00 price target (up from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Mizuho lifted their price objective on Comstock Resources from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Piper Sandler restated an “underweight” rating and issued a $12.00 target price (up from $6.00) on shares of Comstock Resources in a research note on Tuesday, May 13th. Williams Trading set a $13.00 target price on Comstock Resources in a research report on Wednesday, March 5th. Finally, Bank of America lifted their price target on shares of Comstock Resources from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.50.

About Comstock Resources

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.