Comstock Resources, Inc. $CRK Stake Decreased by American Century Companies Inc.

American Century Companies Inc. trimmed its holdings in Comstock Resources, Inc. (NYSE:CRK) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,183,070 shares of the oil and gas producer’s stock after selling 121,534 shares during the quarter. American Century Companies Inc. owned about 0.74% of Comstock Resources worth $43,290,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in Comstock Resources during the 2nd quarter valued at $29,000. Jones Financial Companies Lllp grew its stake in shares of Comstock Resources by 671.2% in the third quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 1,376 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Comstock Resources during the second quarter valued at $34,000. HHM Wealth Advisors LLC acquired a new position in shares of Comstock Resources during the third quarter valued at $44,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Comstock Resources by 39.2% during the third quarter. Smartleaf Asset Management LLC now owns 3,085 shares of the oil and gas producer’s stock valued at $62,000 after purchasing an additional 868 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Price Performance

NYSE CRK opened at $21.36 on Friday. Comstock Resources, Inc. has a 1 year low of $14.65 and a 1 year high of $31.17. The business’s fifty day moving average is $21.47 and its two-hundred day moving average is $20.70. The stock has a market capitalization of $6.28 billion, a P/E ratio of 15.15 and a beta of 0.40. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.49.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The business had revenue of $787.32 million during the quarter, compared to analyst estimates of $504.66 million. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The company’s revenue was up 115.5% compared to the same quarter last year. During the same period last year, the company posted $0.16 EPS. On average, research analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Comstock Resources

In related news, VP Patrick Mcgough sold 48,915 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $21.20, for a total value of $1,036,998.00. Following the completion of the transaction, the vice president owned 187,516 shares in the company, valued at $3,975,339.20. This trade represents a 20.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Citigroup restated a “neutral” rating and set a $25.00 price target (up from $24.00) on shares of Comstock Resources in a research report on Wednesday, January 14th. Piper Sandler reduced their price target on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comstock Resources in a report on Monday, December 29th. Finally, Morgan Stanley set a $19.00 price objective on shares of Comstock Resources in a research note on Friday, February 13th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $21.00.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.