Payden & Rygel Has $66,000 Stock Holdings in Comstock Resources, Inc. (NYSE:CRK)

Payden & Rygel lowered its holdings in Comstock Resources, Inc. (NYSE:CRK) by 65.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,620 shares of the oil and gas producer’s stock after selling 7,000 shares during the period. Payden & Rygel’s holdings in Comstock Resources were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Comstock Resources in the 4th quarter worth $11,891,000. Edgestream Partners L.P. bought a new stake in shares of Comstock Resources in the fourth quarter valued at about $4,430,000. Vanguard Group Inc. grew its position in Comstock Resources by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer’s stock worth $168,043,000 after buying an additional 126,380 shares in the last quarter. Weiss Asset Management LP bought a new position in Comstock Resources during the third quarter valued at about $1,263,000. Finally, Barclays PLC raised its holdings in Comstock Resources by 256.3% in the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after acquiring an additional 111,934 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Truist Financial lifted their price objective on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Piper Sandler lifted their price target on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Morgan Stanley restated a “cautious” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a report on Wednesday, March 5th. Finally, Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their target price for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.73.

Comstock Resources Price Performance

NYSE:CRK opened at $17.14 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The firm has a market cap of $5.02 billion, a PE ratio of -22.55, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. Comstock Resources, Inc. has a 12 month low of $7.74 and a 12 month high of $22.06. The company’s 50-day moving average price is $18.90 and its two-hundred day moving average price is $16.20.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business had revenue of $366.51 million for the quarter, compared to the consensus estimate of $370.62 million. On average, equities analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Comstock Resources Company 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.