KBC Group NV Raises Stock Holdings in Comstock Resources, Inc. (NYSE:CRK)

KBC Group NV raised its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 46.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,480 shares of the oil and gas producer’s stock after acquiring an additional 2,066 shares during the period. KBC Group NV’s holdings in Comstock Resources were worth $118,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its stake in shares of Comstock Resources by 140.0% in the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 1,400 shares during the period. The Manufacturers Life Insurance Company raised its stake in Comstock Resources by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock valued at $601,000 after purchasing an additional 1,656 shares during the period. Harbor Capital Advisors Inc. bought a new position in Comstock Resources in the 3rd quarter worth approximately $25,000. Empowered Funds LLC boosted its stake in Comstock Resources by 8.7% in the 3rd quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer’s stock worth $351,000 after purchasing an additional 2,534 shares during the period. Finally, Blue Trust Inc. grew its holdings in Comstock Resources by 116.3% during the 3rd quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 3,611 shares in the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CRK shares. Bank of America assumed coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 target price for the company. Citigroup boosted their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price on the stock. in a research note on Tuesday, October 15th. Finally, Morgan Stanley started coverage on Comstock Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $18.00 target price on the stock. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.40.

Comstock Resources Price Performance

CRK opened at $17.30 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $22.06. The business’s fifty day simple moving average is $18.00 and its 200-day simple moving average is $13.67. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of -96.10, a PEG ratio of 1.52 and a beta of 0.48.

Insider Activity

In related news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the sale, the director now directly owns 123,781 shares in the company, valued at $2,021,343.73. This represents a 7.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is currently owned by corporate insiders.

About Comstock Resources

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.