Nisa Investment Advisors LLC Has $42,000 Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Nisa Investment Advisors LLC grew its position in Comstock Resources, Inc. (NYSE:CRK) by 129.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,075 shares of the oil and gas producer’s stock after buying an additional 1,170 shares during the period. Nisa Investment Advisors LLC’s holdings in Comstock Resources were worth $42,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its position in Comstock Resources by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 2,631 shares in the last quarter. Quarry LP bought a new stake in Comstock Resources during the 4th quarter worth about $70,000. GAMMA Investing LLC lifted its position in Comstock Resources by 17.6% during the 1st 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 in the last quarter. Dark Forest Capital Management LP bought a new stake in Comstock Resources during the 4th quarter worth about $194,000. Finally, Highland Capital Management LLC bought a new stake in Comstock Resources during the 1st quarter worth about $218,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CRK shares. Wall Street Zen raised shares of Comstock Resources to a “sell” rating in a report on Thursday, May 8th. Bank of America upped their price target on shares of Comstock Resources from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Piper Sandler reiterated an “underweight” rating and issued a $12.00 price target (up previously from $6.00) on shares of Comstock Resources in a research note on Tuesday, May 13th. Citigroup reiterated a “neutral” rating and issued a $27.00 price target (up previously from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. Finally, UBS Group reiterated a “sell” rating and issued a $20.00 price target (up previously from $19.00) on shares of Comstock Resources in a research note on Thursday, July 10th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.82.

Comstock Resources Price Performance

CRK stock opened at $23.17 on Friday. The company has a fifty day moving average price of $24.95 and a 200-day moving average price of $21.25. The company has a market capitalization of $6.79 billion, a P/E ratio of -20.87 and a beta of 0.37. Comstock Resources, Inc. has a 52-week low of $7.74 and a 52-week high of $31.17. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.40 and a current ratio of 0.40.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data 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 23.39% and a negative return on equity of 0.67%. The company had revenue of $512.85 million during the quarter, compared to analysts’ expectations of $408.99 million. During the same period in the prior year, the company posted ($0.03) earnings per share. Comstock Resources’s revenue for the quarter was up 52.7% compared to the same quarter last year. As a group, equities analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current year.

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.