Carrera Capital Advisors Purchases 4,308 Shares of Comstock Resources, Inc. $CRK

Carrera Capital Advisors lifted its position in Comstock Resources, Inc. (NYSE:CRK) by 5.9% in the 2nd quarter, Holdings Channel reports. The fund owned 76,946 shares of the oil and gas producer’s stock after acquiring an additional 4,308 shares during the quarter. Carrera Capital Advisors’ holdings in Comstock Resources were worth $2,129,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Comstock Resources by 17.6% in the 1st quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer’s stock worth $138,000 after acquiring an additional 1,017 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Comstock Resources in the 2nd quarter worth approximately $2,610,000. Fiduciary Alliance LLC bought a new position in Comstock Resources during the 2nd quarter valued at approximately $515,000. Public Employees Retirement System of Ohio increased its position in Comstock Resources by 2,433.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 54,030 shares of the oil and gas producer’s stock valued at $1,495,000 after buying an additional 51,897 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in Comstock Resources by 1.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer’s stock valued at $917,000 after buying an additional 550 shares in the last quarter. Institutional investors own 36.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CRK shares. Morgan Stanley reduced their price objective on Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. Piper Sandler set a $9.00 price objective on Comstock Resources and gave the company an “underweight” rating in a research report on Tuesday. UBS Group reduced their price objective on Comstock Resources from $18.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, August 20th. Mizuho set a $21.00 price objective on Comstock Resources and gave the company a “neutral” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Comstock Resources in a research report on Friday. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Comstock Resources has an average rating of “Reduce” and a consensus price target of $19.50.

Comstock Resources Stock Down 0.1%

Comstock Resources stock opened at $17.85 on Friday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -74.35 and a beta of 0.19. Comstock Resources, Inc. has a 12 month low of $11.05 and a 12 month high of $31.17. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $17.65 and a two-hundred day simple moving average of $20.55.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $470.26 million for the quarter, compared to the consensus estimate of $431.82 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The company’s revenue for the quarter was up 90.5% on a year-over-year basis. During the same period last year, the business posted ($0.20) EPS. Equities analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

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.