Amalgamated Bank Has $527,000 Holdings in Comstock Resources, Inc. (NYSE:CRK)

Amalgamated Bank cut its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,905 shares of the oil and gas producer’s stock after selling 622 shares during the quarter. Amalgamated Bank’s holdings in Comstock Resources were worth $527,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Townsquare Capital LLC acquired a new stake in shares of Comstock Resources during the fourth quarter worth $202,000. GAMMA Investing LLC increased its position in shares of Comstock Resources by 17.6% during the first quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer’s stock worth $138,000 after buying an additional 1,017 shares during the period. Sterling Capital Management LLC increased its position in shares of Comstock Resources by 804.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 2,631 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Comstock Resources by 1.2% during the first quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer’s stock worth $917,000 after buying an additional 550 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Comstock Resources by 6.5% during the fourth 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 buying an additional 91,988 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRK has been the subject of a number of research reports. Piper Sandler restated an “underweight” rating and issued a $12.00 price target (up from $6.00) on shares of Comstock Resources in a report on Tuesday, May 13th. UBS Group restated a “sell” rating and issued a $20.00 price target (up from $19.00) on shares of Comstock Resources in a report on Thursday. Morgan Stanley restated a “cautious” rating and issued a $22.00 price target (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Wall Street Zen raised shares of Comstock Resources to a “sell” rating in a research note on Thursday, May 8th. Finally, Wolfe Research raised shares of Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research note on Tuesday, June 17th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.82.

Comstock Resources Stock Down 2.3%

CRK opened at $22.15 on Friday. The firm has a market capitalization of $6.49 billion, a P/E ratio of -19.95 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.40 and a quick ratio of 0.40. Comstock Resources, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $31.17. The company’s 50-day moving average is $24.79 and its 200 day moving average is $20.99.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. Comstock Resources had a negative net margin of 23.39% and a negative return on equity of 0.67%. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Research analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Comstock Resources 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.