Comstock Resources, Inc. (NYSE:CRK) Holdings Lowered by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC trimmed its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 67.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,049 shares of the oil and gas producer’s stock after selling 44,976 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Comstock Resources were worth $245,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new position in Comstock Resources during the third quarter valued at $25,000. Blue Trust Inc. acquired a new position in Comstock Resources during the second quarter valued at $32,000. EverSource Wealth Advisors LLC raised its position in Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 3,446 shares during the period. GAMMA Investing LLC raised its position in Comstock Resources by 27.5% during the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock valued at $63,000 after buying an additional 1,312 shares during the period. Finally, Payden & Rygel Investment Group acquired a new position in Comstock Resources during the first quarter valued at $99,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $13.37 on Monday. The business has a 50 day moving average price of $11.57 and a 200 day moving average price of $10.93. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $14.28. The company has a market cap of $3.91 billion, a price-to-earnings ratio of -74.27 and a beta of 0.47. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BMO Capital Markets upped their target price on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Mizuho dropped their target price on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a research report on Monday, September 16th. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price on the stock. in a research report on Tuesday, October 15th. Piper Sandler lowered Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $8.00 to $5.00 in a research report on Thursday, August 15th. Finally, Bank of America assumed coverage on Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.31.

Insiders Place Their Bets

In other news, major shareholder Drilling L.P. Arkoma acquired 592,246 shares of Comstock Resources stock in a transaction on Monday, August 26th. The stock was bought at an average price of $11.54 per share, for a total transaction of $6,834,518.84. Following the transaction, the insider now owns 208,219,992 shares of the company’s stock, valued at $2,402,858,707.68. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders bought 2,680,646 shares of company stock worth $29,692,057. 2.00% of the stock is currently owned by company insiders.

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.