Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Mirae Asset Global Investments Co. Ltd. raised its stake in Comstock Resources, Inc. (NYSE:CRK) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,381 shares of the oil and gas producer’s stock after buying an additional 2,310 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Comstock Resources were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CRK. Federated Hermes Inc. increased its holdings in Comstock Resources by 80.0% in the third quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock valued at $61,000 after buying an additional 2,445 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Comstock Resources by 144.7% in the third quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock valued at $73,000 after buying an additional 3,929 shares in the last quarter. Steward Financial Group LLC increased its holdings in Comstock Resources by 86.9% in the third quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock valued at $74,000 after buying an additional 3,151 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Comstock Resources in the third quarter valued at about $80,000. Finally, Woodstock Corp purchased a new position in Comstock Resources in the fourth quarter valued at about $88,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, April 2nd. Truist Financial dropped 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. Piper Sandler dropped their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Finally, Pickering Energy Partners raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.75.

Insider Buying and Selling

In other news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of the transaction, the insider now owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by company insiders.

Comstock Resources Stock Up 0.2 %

Shares of NYSE CRK opened at $10.33 on Friday. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $13.39. The firm’s 50 day moving average price is $8.78 and its 200 day moving average price is $9.47. The firm has a market cap of $2.87 billion, a P/E ratio of 13.58 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.68 and a current ratio of 0.68.

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