Federated Hermes Inc. Grows Position in Comstock Resources, Inc. $CRK

Federated Hermes Inc. boosted its position in Comstock Resources, Inc. (NYSE:CRK) by 10,032.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 359,307 shares of the oil and gas producer’s stock after acquiring an additional 355,761 shares during the quarter. Federated Hermes Inc.’s holdings in Comstock Resources were worth $7,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in shares of Comstock Resources in the 1st quarter valued at approximately $627,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Comstock Resources by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock valued at $1,124,000 after buying an additional 2,697 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Comstock Resources by 67.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock valued at $22,107,000 after buying an additional 437,476 shares in the last quarter. Intech Investment Management LLC raised its stake in Comstock Resources by 26.0% in the first quarter. Intech Investment Management LLC now owns 65,289 shares of the oil and gas producer’s stock valued at $1,328,000 after buying an additional 13,485 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Comstock Resources during the 2nd quarter worth about $232,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of NYSE CRK opened at $22.06 on Tuesday. The stock has a market cap of $6.46 billion, a P/E ratio of 88.22 and a beta of 0.39. Comstock Resources, Inc. has a twelve month low of $14.65 and a twelve month high of $31.17. The stock has a 50 day moving average of $23.34 and a two-hundred day moving average of $20.42. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.19.

Comstock Resources (NYSE:CRK) last announced its earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Comstock Resources had a net margin of 3.14% and a return on equity of 6.71%. The business had revenue of $449.85 million for the quarter, compared to analysts’ expectations of $433.54 million. During the same period in the previous year, the company posted ($0.17) EPS. The company’s quarterly revenue was up 47.8% on a year-over-year basis. On average, research analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

CRK has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comstock Resources in a report on Monday, December 29th. Bank of America lowered shares of Comstock Resources from a “buy” rating to a “neutral” rating and dropped their price target for the company from $27.00 to $24.00 in a research note on Friday, January 16th. Morgan Stanley set a $20.00 price objective on shares of Comstock Resources and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. UBS Group reaffirmed a “sell” rating and issued a $18.00 target price (up from $16.00) on shares of Comstock Resources in a research report on Friday, December 12th. Finally, Piper Sandler cut their price target on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 18th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $20.33.

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.