Janney Montgomery Scott LLC Decreases Stake in Comstock Resources, Inc. (NYSE:CRK)

Janney Montgomery Scott LLC lowered its position in Comstock Resources, Inc. (NYSE:CRK) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,055 shares of the oil and gas producer’s stock after selling 19,770 shares during the period. Janney Montgomery Scott LLC’s holdings in Comstock Resources were worth $3,317,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. KGH Ltd increased its position in shares of Comstock Resources by 8.7% in the second quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock valued at $125,858,000 after buying an additional 975,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Comstock Resources by 26.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock valued at $121,414,000 after acquiring an additional 2,438,252 shares during the last quarter. American Century Companies Inc. increased its holdings in Comstock Resources by 19.0% during the 2nd quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock valued at $23,567,000 after acquiring an additional 362,043 shares in the last quarter. Millennium Management LLC raised its position in Comstock Resources by 775.4% during the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock worth $9,086,000 after acquiring an additional 775,371 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Comstock Resources by 20.7% in the second quarter. Marshall Wace LLP now owns 873,918 shares of the oil and gas producer’s stock valued at $9,071,000 after purchasing an additional 149,760 shares in the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRK has been the subject of a number of recent research reports. Truist Financial raised their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Mizuho cut their price target on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Wolfe Research began coverage on shares of Comstock Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. BMO Capital Markets raised their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Finally, Bank of America began coverage on Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.31.

Comstock Resources Price Performance

Shares of Comstock Resources stock opened at $13.20 on Monday. The stock has a market capitalization of $3.86 billion, a P/E ratio of -73.33 and a beta of 0.47. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The business’s fifty day moving average price is $11.19 and its 200 day moving average price is $10.80. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $13.41.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. As a group, research analysts anticipate that Comstock Resources, Inc. will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma bought 1,044,200 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $10.93 per share, with a total value of $11,413,106.00. Following the purchase, the insider now owns 204,495,146 shares in the company, valued at approximately $2,235,131,945.78. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 3,254,099 shares of company stock worth $35,793,597 over the last ninety days. 2.00% of the stock is owned by company 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.