Natixis Advisors LLC Increases Stock Holdings in Comstock Resources, Inc. (NYSE:CRK)

Natixis Advisors LLC raised its stake in Comstock Resources, Inc. (NYSE:CRK) by 33.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,326 shares of the oil and gas producer’s stock after purchasing an additional 8,548 shares during the quarter. Natixis Advisors LLC’s holdings in Comstock Resources were worth $698,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Townsquare Capital LLC acquired a new position in Comstock Resources during the fourth quarter worth $202,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 1,017 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in 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 purchasing an additional 550 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Comstock Resources by 129.3% during the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 1,170 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in 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 purchasing an additional 2,631 shares in the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Trading Down 0.7%

NYSE:CRK opened at $15.96 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $23.49 and its two-hundred day moving average is $21.11. Comstock Resources, Inc. has a 52 week low of $9.09 and a 52 week high of $31.17. The company has a market cap of $4.68 billion, a PE ratio of -66.50 and a beta of 0.28.

Comstock Resources (NYSE:CRK) last released its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $470.26 million for the quarter, compared to the consensus estimate of $431.82 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%. Comstock Resources’s quarterly revenue was up 90.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. On average, analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRK. Morgan Stanley decreased their target price on Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 4th. Wolfe Research upgraded Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research report on Tuesday, June 17th. Wall Street Zen upgraded Comstock Resources to a “sell” rating in a research note on Thursday, May 8th. Piper Sandler dropped their target price on Comstock Resources from $12.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, August 4th. Finally, Bank of America upped their target price on Comstock Resources from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.18.

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.