Pittenger & Anderson Inc. Boosts Holdings in Comstock Resources, Inc. (NYSE:CRK)

Pittenger & Anderson Inc. grew its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,500 shares of the oil and gas producer’s stock after buying an additional 2,500 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Comstock Resources were worth $111,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. KGH Ltd increased its stake in shares of Comstock Resources by 119.3% during the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after acquiring an additional 4,670,959 shares during the period. Bank of New York Mellon Corp increased its position in Comstock Resources by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,295,391 shares of the oil and gas producer’s stock worth $36,348,000 after purchasing an additional 41,260 shares during the period. Heartland Advisors Inc. raised its stake in shares of Comstock Resources by 13.9% during the 3rd quarter. Heartland Advisors Inc. now owns 1,485,997 shares of the oil and gas producer’s stock worth $18,107,000 after buying an additional 180,917 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Comstock Resources by 7.9% during the 3rd quarter. American Century Companies Inc. now owns 1,321,191 shares of the oil and gas producer’s stock worth $14,573,000 after buying an additional 96,669 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Comstock Resources by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,263 shares of the oil and gas producer’s stock valued at $10,173,000 after buying an additional 60,830 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of CRK stock traded up $0.02 during trading hours on Friday, hitting $10.32. The company’s stock had a trading volume of 1,334,944 shares, compared to its average volume of 4,552,491. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The business has a fifty day moving average of $8.78 and a 200-day moving average of $9.47. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $13.39. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 13.55 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The company had revenue of $410.58 million for the quarter, compared to analyst estimates of $401.97 million. During the same quarter last year, the company posted $1.05 EPS. Comstock Resources’s quarterly revenue was down 55.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Comstock Resources, Inc. will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRK. StockNews.com raised Comstock Resources to a “sell” rating in a report on Thursday, April 4th. Mizuho lowered their price target on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th. Truist Financial reduced their price objective on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday, February 13th. The Goldman Sachs Group upped their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Tuesday, April 2nd. Finally, Pickering Energy Partners raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.75.

Insider Activity at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the purchase, the insider now owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

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.