American Century Companies Inc. Reduces Stock Position in Comstock Resources, Inc. (NYSE:CRK)

American Century Companies Inc. trimmed its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,714,356 shares of the oil and gas producer’s stock after selling 35,855 shares during the period. American Century Companies Inc.’s holdings in Comstock Resources were worth $49,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. VSM Wealth Advisory LLC purchased a new stake in Comstock Resources during the fourth quarter worth approximately $27,000. Intech Investment Management LLC raised its holdings in Comstock Resources by 37.6% during the fourth quarter. Intech Investment Management LLC now owns 51,804 shares of the oil and gas producer’s stock worth $944,000 after purchasing an additional 14,145 shares in the last quarter. Royce & Associates LP lifted its position in shares of Comstock Resources by 13.0% during the 4th quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer’s stock worth $14,201,000 after buying an additional 89,630 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Comstock Resources by 6.6% in the 4th quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock valued at $470,000 after buying an additional 1,585 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. purchased a new position in shares of Comstock Resources in the 4th quarter valued at $552,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRK. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Thursday, March 20th. Truist Financial upped their target price on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Piper Sandler lifted their price target on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Williams Trading set a $13.00 price objective on Comstock Resources in a report on Wednesday, March 5th. Finally, Morgan Stanley reaffirmed a “cautious” rating and issued a $22.00 target price on shares of Comstock Resources in a report on Wednesday. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.73.

Insider Buying and Selling at Comstock Resources

In other news, Director Elizabeth B. Davis sold 8,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the transaction, the director now owns 99,632 shares in the company, valued at $1,810,313.44. This trade represents a 7.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Comstock Resources Trading Down 1.7 %

Shares of Comstock Resources stock opened at $19.93 on Thursday. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of -26.22, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. Comstock Resources, Inc. has a 52-week low of $7.74 and a 52-week high of $22.06. The company’s 50-day simple moving average is $19.10 and its 200-day simple moving average is $15.72. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The company had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. As a group, equities research analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

About Comstock Resources

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.