Comstock Resources, Inc. (NYSE:CRK) Stake Trimmed by Americana Partners LLC

Americana Partners LLC lowered its stake in Comstock Resources, Inc. (NYSE:CRK) by 14.3% during the fourth quarter, HoldingsChannel reports. The firm owned 17,803 shares of the oil and gas producer’s stock after selling 2,975 shares during the period. Americana Partners LLC’s holdings in Comstock Resources were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in Comstock Resources during the 3rd quarter worth about $25,000. Sunbelt Securities Inc. boosted its position in Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 1,400 shares during the period. Blue Trust Inc. boosted its position 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 worth $70,000 after acquiring an additional 3,611 shares during the period. KBC Group NV boosted its position in Comstock Resources by 46.8% during the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after acquiring an additional 2,066 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in Comstock Resources during the 3rd quarter worth about $169,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Up 2.1 %

CRK opened at $18.96 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The business has a 50 day moving average price of $18.45 and a 200 day moving average price of $14.12. The firm has a market cap of $5.54 billion, a P/E ratio of -105.30, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. Comstock Resources, Inc. has a twelve month low of $7.46 and a twelve month high of $22.06.

Comstock Resources (NYSE:CRK) last issued its quarterly 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 3.88% and a negative net margin of 4.93%. Research analysts forecast that Comstock Resources, Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler raised their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Morgan Stanley began coverage on Comstock Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price target for the company. Citigroup lifted their price target on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Truist Financial lifted their price target on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 13th. Four equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.40.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the transaction, the director now owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. The trade was a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 38,000 shares of company stock worth $634,660 over the last three months. Company insiders own 2.00% of the company’s stock.

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.