Texas Capital Bank Wealth Management Services Inc Purchases Shares of 77,579 Comstock Resources, Inc. $CRK

Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Comstock Resources, Inc. (NYSE:CRK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 77,579 shares of the oil and gas producer’s stock, valued at approximately $1,798,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRK. Advisory Services Network LLC acquired a new position in Comstock Resources during the third quarter valued at approximately $27,000. Jones Financial Companies Lllp grew its stake in shares of Comstock Resources by 671.2% in the third quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 1,376 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Comstock Resources by 877.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 1,290 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Comstock Resources in the third quarter worth $38,000. Finally, Eastern Bank acquired a new stake in shares of Comstock Resources in the fourth quarter worth $58,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Up 0.4%

Shares of CRK stock opened at $13.23 on Thursday. The stock has a market cap of $3.89 billion, a P/E ratio of 6.04 and a beta of 0.22. The stock has a fifty day moving average price of $17.49 and a 200 day moving average price of $20.69. Comstock Resources, Inc. has a one year low of $12.84 and a one year high of $31.17. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The firm had revenue of $587.35 million during the quarter, compared to analyst estimates of $554.02 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts predict that Comstock Resources, Inc. will post 0.64 earnings per share for the current year.

Insider Activity at Comstock Resources

In other news, VP Patrick Mcgough sold 48,915 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $21.20, for a total value of $1,036,998.00. Following the sale, the vice president owned 187,516 shares in the company, valued at approximately $3,975,339.20. The trade was a 20.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of 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. Wall Street Zen downgraded shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Citigroup restated a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. Mizuho lowered their price objective on shares of Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Williams Trading set a $16.00 target price on Comstock Resources in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $18.89.

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.