SBI Securities Co. Ltd. Makes New Investment in Comstock Resources, Inc. (NYSE:CRK)

SBI Securities Co. Ltd. acquired a new position in shares of Comstock Resources, Inc. (NYSE:CRK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,928 shares of the oil and gas producer’s stock, valued at approximately $272,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its holdings in Comstock Resources by 225.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 2,326 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Comstock Resources by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 439,470 shares of the oil and gas producer’s stock worth $8,007,000 after acquiring an additional 12,257 shares during the last quarter. Savant Capital LLC grew its holdings in Comstock Resources by 43.8% during the 4th quarter. Savant Capital LLC now owns 14,800 shares of the oil and gas producer’s stock worth $270,000 after acquiring an additional 4,506 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Comstock Resources by 25.4% during the 4th quarter. Bleakley Financial Group LLC now owns 31,955 shares of the oil and gas producer’s stock worth $582,000 after acquiring an additional 6,464 shares during the last quarter. Finally, KBC Group NV lifted its position in Comstock Resources by 46.8% during the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 2,066 shares during the period. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Performance

Shares of NYSE:CRK opened at $18.98 on Thursday. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of -24.97, a P/E/G ratio of 1.65 and a beta of 0.48. The firm’s 50 day simple moving average is $19.03 and its 200 day simple moving average is $14.85. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. Comstock Resources, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $22.06.

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

Analyst Ratings Changes

A number of research analysts have issued reports on CRK shares. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their target price for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Morgan Stanley started coverage on shares of Comstock Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $18.00 target price on the stock. Piper Sandler upped their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Citigroup upped their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Truist Financial upped their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.40.

Insiders Place Their Bets

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total transaction of $156,200.00. Following the sale, the director now directly owns 143,781 shares in the company, valued at approximately $2,245,859.22. This trade represents a 6.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 38,000 shares of company stock worth $634,660. Company insiders own 2.00% 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.