Comstock Resources, Inc. $CRK Position Boosted by Fiduciary Alliance LLC

Fiduciary Alliance LLC grew its holdings in Comstock Resources, Inc. (NYSE:CRK) by 254.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,675 shares of the oil and gas producer’s stock after purchasing an additional 115,313 shares during the period. Fiduciary Alliance LLC owned about 0.05% of Comstock Resources worth $3,387,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Rothschild Investment LLC boosted its holdings in shares of Comstock Resources by 740.4% during the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 1,007 shares during the period. Advisory Services Network LLC purchased a new stake in Comstock Resources in the 3rd quarter worth approximately $27,000. Kemnay Advisory Services Inc. purchased a new stake in Comstock Resources in the 4th quarter worth approximately $29,000. Hantz Financial Services Inc. boosted its stake in shares of Comstock Resources by 877.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 1,290 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Comstock Resources during the 4th quarter valued at $36,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Performance

CRK stock opened at $13.45 on Thursday. The firm has a 50 day moving average of $14.68 and a two-hundred day moving average of $19.02. Comstock Resources, Inc. has a 12 month low of $12.44 and a 12 month high of $29.41. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 6.14 and a beta of 0.13. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The business had revenue of $587.35 million during the quarter, compared to the consensus estimate of $554.01 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that Comstock Resources, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a research note on Wednesday, May 20th. Wall Street Zen cut Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Morgan Stanley lowered their target price on Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, May 22nd. UBS Group reaffirmed a “sell” rating and issued a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Finally, Williams Trading set a $16.00 target price on Comstock Resources in a research report on Thursday, May 14th. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $17.00.

About Comstock Resources

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.