Stratos Wealth Partners LTD. Takes $97,000 Position in Comstock Resources, Inc. (NYSE:CRK)

Stratos Wealth Partners LTD. purchased a new stake in Comstock Resources, Inc. (NYSE:CRK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,004 shares of the oil and gas producer’s stock, valued at approximately $97,000.

A number of other institutional investors also recently modified their holdings of CRK. BlackRock Inc. increased its position in shares of Comstock Resources by 2.8% in the second quarter. BlackRock Inc. now owns 14,505,907 shares of the oil and gas producer’s stock valued at $168,269,000 after acquiring an additional 393,075 shares during the last quarter. State Street Corp increased its position in shares of Comstock Resources by 19.3% in the first quarter. State Street Corp now owns 10,279,079 shares of the oil and gas producer’s stock valued at $110,911,000 after acquiring an additional 1,660,068 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Comstock Resources by 36.4% in the third quarter. Vanguard Group Inc. now owns 9,783,037 shares of the oil and gas producer’s stock valued at $169,148,000 after acquiring an additional 2,608,309 shares during the last quarter. KGH Ltd increased its position in shares of Comstock Resources by 119.3% in the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock valued at $94,704,000 after acquiring an additional 4,670,959 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Comstock Resources by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,216,378 shares of the oil and gas producer’s stock valued at $68,075,000 after acquiring an additional 691,334 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Trading Up 0.8 %

Shares of NYSE:CRK opened at $9.19 on Thursday. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $13.39. The stock has a market cap of $2.56 billion, a PE ratio of 12.09 and a beta of 0.70. The business has a 50 day moving average of $8.50 and a 200-day moving average of $9.50. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.11.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data 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 the consensus estimate of $401.97 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The company’s revenue was down 55.5% on a year-over-year basis. As a group, equities research analysts forecast that Comstock Resources, Inc. will post 0.06 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on CRK. Mizuho lowered their target price on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research report on Monday. Piper Sandler lowered their price target on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 9th. StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday, April 4th. Finally, Stifel Nicolaus lowered their price target on Comstock Resources from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.00.

Insider Transactions at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of Comstock Resources stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of the acquisition, the insider now directly owns 194,821,429 shares in the company, valued at approximately $1,566,364,289.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

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.