Natixis Advisors LLC Raises Stock Holdings in Comstock Resources, Inc. (NYSE:CRK)

Natixis Advisors LLC boosted its holdings in Comstock Resources, Inc. (NYSE:CRK) by 37.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,106 shares of the oil and gas producer’s stock after purchasing an additional 9,520 shares during the period. Natixis Advisors LLC’s holdings in Comstock Resources were worth $364,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Comstock Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer’s stock worth $95,838,000 after purchasing an additional 34,231 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Comstock Resources by 29.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock valued at $72,035,000 after purchasing an additional 1,833,302 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Comstock Resources by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,015,403 shares of the oil and gas producer’s stock valued at $8,986,000 after purchasing an additional 93,140 shares during the period. Stifel Financial Corp increased its position in shares of Comstock Resources by 2.2% during the 4th quarter. Stifel Financial Corp now owns 667,956 shares of the oil and gas producer’s stock valued at $5,911,000 after purchasing an additional 14,683 shares during the period. Finally, Rafferty Asset Management LLC increased its position in shares of Comstock Resources by 57.4% during the 4th quarter. Rafferty Asset Management LLC now owns 619,684 shares of the oil and gas producer’s stock valued at $5,484,000 after purchasing an additional 226,021 shares during the period. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Trading Up 2.7 %

Comstock Resources stock opened at $10.02 on Friday. The business has a 50 day moving average price of $10.16 and a two-hundred day moving average price of $10.03. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 45.55 and a beta of 0.48. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $13.39.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The company had revenue of $246.80 million during the quarter, compared to analyst estimates of $296.02 million. Comstock Resources’s revenue was down 14.4% on a year-over-year basis. As a group, equities analysts forecast that Comstock Resources, Inc. will post -0.33 EPS for the current year.

Insider Buying and Selling at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue bought 825,868 shares of Comstock Resources stock in a transaction dated Wednesday, August 7th. The shares were bought at an average cost of $8.82 per share, for a total transaction of $7,284,155.76. Following the completion of the transaction, the insider now owns 197,298,165 shares of the company’s stock, valued at $1,740,169,815.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Comstock Resources news, major shareholder Drilling L.P. Arkoma acquired 981,898 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $10.13 per share, for a total transaction of $9,946,626.74. Following the completion of the acquisition, the insider now directly owns 199,931,799 shares of the company’s stock, valued at approximately $2,025,309,123.87. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Star Exploration Corp Blue bought 825,868 shares of the stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $8.82 per share, with a total value of $7,284,155.76. Following the purchase, the insider now directly owns 197,298,165 shares of the company’s stock, valued at approximately $1,740,169,815.30. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 6,712,733 shares of company stock worth $67,816,851. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRK. KeyCorp began coverage on Comstock Resources in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. The Goldman Sachs Group lifted their price target on Comstock Resources from $9.00 to $10.00 and gave the company a “sell” rating in a research report on Tuesday, May 28th. Truist Financial lifted their price target on Comstock Resources from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Piper Sandler cut Comstock Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $8.00 to $5.00 in a report on Thursday, August 15th. Finally, Wolfe Research began coverage on Comstock Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.75.

Comstock Resources 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.