ProShare Advisors LLC Acquires 8,568 Shares of Comstock Resources, Inc. (NYSE:CRK)

ProShare Advisors LLC lifted its holdings in Comstock Resources, Inc. (NYSE:CRK) by 44.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,809 shares of the oil and gas producer’s stock after buying an additional 8,568 shares during the quarter. ProShare Advisors LLC’s holdings in Comstock Resources were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Man Group plc raised its holdings in Comstock Resources by 31.4% during the 4th quarter. Man Group plc now owns 74,983 shares of the oil and gas producer’s stock worth $1,366,000 after purchasing an additional 17,937 shares during the last quarter. Numerai GP LLC bought a new stake in Comstock Resources during the 4th quarter worth about $1,582,000. McGowan Group Asset Management Inc. bought a new stake in Comstock Resources during the 4th quarter worth about $252,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Comstock Resources by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer’s stock worth $957,000 after purchasing an additional 1,793 shares during the last quarter. Finally, Glenorchy Capital Ltd raised its holdings in Comstock Resources by 4.2% during the 4th quarter. Glenorchy Capital Ltd now owns 205,976 shares of the oil and gas producer’s stock worth $3,753,000 after purchasing an additional 8,263 shares during the last quarter. 36.13% of the stock is owned by institutional investors.

Comstock Resources Price Performance

NYSE CRK opened at $23.74 on Tuesday. The business has a 50 day simple moving average of $20.48 and a 200 day simple moving average of $18.64. Comstock Resources, Inc. has a 52-week low of $7.74 and a 52-week high of $24.48. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of -31.24, a PEG ratio of 1.65 and a beta of 0.14.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business had revenue of $512.85 million during the quarter, compared to analysts’ expectations of $408.99 million. During the same period in the prior year, the business earned ($0.03) EPS. Comstock Resources’s revenue for the quarter was up 52.7% compared to the same quarter last year. Analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRK has been the subject of several analyst reports. Mizuho boosted their target price on Comstock Resources from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Williams Trading set a $13.00 target price on Comstock Resources in a research report on Wednesday, March 5th. Bank of America boosted their target price on Comstock Resources from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group initiated coverage on Comstock Resources in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $19.00 target price for the company. Finally, Wall Street Zen upgraded Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Comstock Resources has a consensus rating of “Hold” and a consensus target price of $16.50.

Comstock Resources Company 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.