Comstock Resources, Inc. $CRK Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in Comstock Resources, Inc. (NYSE:CRK) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,113 shares of the oil and gas producer’s stock after purchasing an additional 3,912 shares during the period. State of Alaska Department of Revenue’s holdings in Comstock Resources were worth $1,496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund lifted its stake in shares of Comstock Resources by 1.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer’s stock valued at $917,000 after purchasing an additional 550 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Comstock Resources by 17.6% in the 1st quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer’s stock worth $138,000 after acquiring an additional 1,017 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Comstock Resources by 11.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,599 shares of the oil and gas producer’s stock worth $236,000 after acquiring an additional 1,145 shares during the period. Nisa Investment Advisors LLC grew its position in Comstock Resources by 129.3% in the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of Comstock Resources by 6.1% during the first quarter. Bleakley Financial Group LLC now owns 33,893 shares of the oil and gas producer’s stock valued at $689,000 after purchasing an additional 1,938 shares during the period. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Price Performance

CRK opened at $21.41 on Friday. The company has a 50-day moving average of $17.09 and a 200-day moving average of $20.62. The company has a market capitalization of $6.27 billion, a P/E ratio of -89.19 and a beta of 0.19. Comstock Resources, Inc. has a 1-year low of $11.05 and a 1-year high of $31.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.36 and a current ratio of 0.36.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CRK shares. Piper Sandler decreased their target price on shares of Comstock Resources from $12.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, August 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Comstock Resources in a research note on Saturday, September 27th. Wolfe Research raised shares of Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Tuesday, June 17th. UBS Group dropped their price target on shares of Comstock Resources from $18.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday, August 20th. Finally, Citigroup reaffirmed a “neutral” rating and set a $27.00 price target (up previously from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $18.73.

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.