Vanguard Personalized Indexing Management LLC Invests $232,000 in Comstock Resources, Inc. $CRK

Vanguard Personalized Indexing Management LLC acquired a new position in shares of Comstock Resources, Inc. (NYSE:CRK) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,398 shares of the oil and gas producer’s stock, valued at approximately $232,000.

Other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Comstock Resources by 129.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 1,170 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in Comstock Resources in the first quarter worth $52,000. State of Wyoming bought a new position in shares of Comstock Resources during the first quarter valued at about $126,000. GAMMA Investing LLC increased its holdings in shares of Comstock Resources by 17.6% in 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. Finally, Emerald Advisers LLC purchased a new position in shares of Comstock Resources in the first quarter worth about $158,000. 36.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRK. Roth Capital downgraded Comstock Resources from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $18.00 to $12.00 in a report on Monday, August 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Comstock Resources in a report on Friday. Mizuho set a $21.00 price objective on Comstock Resources and gave the stock a “neutral” rating in a report on Thursday, October 16th. Morgan Stanley lowered their price objective on shares of 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. Finally, Piper Sandler set a $9.00 price objective on shares of Comstock Resources and gave the company an “underweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Comstock Resources presently has a consensus rating of “Reduce” and a consensus price target of $19.50.

Comstock Resources Price Performance

Shares of CRK opened at $17.85 on Friday. The stock has a market cap of $5.23 billion, a PE ratio of -74.35 and a beta of 0.19. 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, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $31.17. The firm’s 50-day simple moving average is $17.65 and its two-hundred day simple moving average is $20.57.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $470.26 million for the quarter, compared to analysts’ expectations of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The business’s revenue was up 90.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.20) earnings per share. Analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal 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.