Texas Capital Bank Wealth Management Services Inc Purchases New Shares in Comstock Resources, Inc. $CRK

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

A number of other institutional investors have also made changes to their positions in CRK. Advisory Services Network LLC bought a new position in shares of Comstock Resources in the third quarter valued at about $27,000. Jones Financial Companies Lllp raised its holdings in Comstock Resources by 671.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 1,376 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in 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 worth $33,000 after purchasing an additional 1,290 shares during the last quarter. iSAM Funds UK Ltd bought a new stake in Comstock Resources during the 3rd quarter worth about $38,000. Finally, Eastern Bank bought a new stake in Comstock Resources during the 4th quarter worth about $58,000. 36.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Comstock Resources news, VP Patrick Mcgough sold 48,915 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the completion of the transaction, the vice president owned 187,516 shares of the company’s stock, valued at $3,975,339.20. This represents a 20.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by company insiders.

Comstock Resources Trading Up 0.4%

NYSE:CRK opened at $13.23 on Thursday. Comstock Resources, Inc. has a twelve month low of $12.84 and a twelve month high of $31.17. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average price of $17.49 and a two-hundred day moving average price of $20.69. The company has a market cap of $3.89 billion, a P/E ratio of 6.04 and a beta of 0.22.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share 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 firm had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.02 million. During the same period last year, the company earned $0.18 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, analysts expect that Comstock Resources, Inc. will post 0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRK shares. Wall Street Zen cut Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Citigroup restated a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, April 15th. Mizuho decreased their target price on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group restated a “sell” rating and set a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Finally, Morgan Stanley decreased their target price on Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, May 22nd. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Comstock Resources currently has a consensus rating of “Reduce” and a consensus price target of $18.89.

Comstock Resources Profile

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.