Charles Schwab Investment Management Inc. Sells 17,729 Shares of Comstock Resources, Inc. $CRK

Charles Schwab Investment Management Inc. lessened its position in Comstock Resources, Inc. (NYSE:CRK) by 1.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,488,079 shares of the oil and gas producer’s stock after selling 17,729 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.51% of Comstock Resources worth $30,268,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Corigliano Investment Advisers LLC purchased a new position in Comstock Resources in the fourth quarter worth $11,450,000. Susquehanna Fundamental Investments LLC bought a new position in Comstock Resources in the 4th quarter worth about $6,349,000. Marshall Wace LLP bought a new position in Comstock Resources in the 4th quarter worth about $6,329,000. Dimensional Fund Advisors LP boosted its holdings in shares of Comstock Resources by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer’s stock worth $242,301,000 after purchasing an additional 227,638 shares in the last quarter. Finally, Aptus Capital Advisors LLC purchased a new position in shares of Comstock Resources in the 4th quarter worth about $3,499,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRK shares. Bank of America increased their target price on Comstock Resources from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Morgan Stanley lowered their target price on Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 4th. Piper Sandler lowered their price objective 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. Citigroup restated 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, Mizuho upped their price objective on Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $18.58.

Comstock Resources Trading Up 1.3%

Shares of CRK stock opened at $15.2250 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.36 and a quick ratio of 0.36. The stock’s 50 day simple moving average is $22.31 and its two-hundred day simple moving average is $20.92. Comstock Resources, Inc. has a 1 year low of $9.09 and a 1 year high of $31.17. The company has a market cap of $4.46 billion, a PE ratio of -63.43 and a beta of 0.28.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The business had revenue of $470.26 million for the quarter, compared to analysts’ expectations of $431.82 million. During the same quarter last year, the firm earned ($0.20) EPS. The business’s revenue for the quarter was up 90.5% on a year-over-year basis. Research analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

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.