Bank of New York Mellon Corp Sells 160,179 Shares of Comstock Resources, Inc. (NYSE:CRK)

Bank of New York Mellon Corp cut its holdings in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 742,155 shares of the oil and gas producer's stock after selling 160,179 shares during the period. Bank of New York Mellon Corp owned approximately 0.25% of Comstock Resources worth $13,522,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CRK. Sunbelt Securities Inc. raised its position in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer's stock valued at $27,000 after buying an additional 1,400 shares during the last quarter. KBC Group NV raised its position in Comstock Resources by 46.8% in the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer's stock worth $118,000 after purchasing an additional 2,066 shares in the last quarter. Blue Trust Inc. raised its position in Comstock Resources by 56.4% in the fourth quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer's stock worth $191,000 after purchasing an additional 3,787 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Comstock Resources in the fourth quarter worth about $214,000. Finally, Savant Capital LLC raised its position in Comstock Resources by 43.8% in the fourth quarter. Savant Capital LLC now owns 14,800 shares of the oil and gas producer's stock worth $270,000 after purchasing an additional 4,506 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, Director Elizabeth B. Davis sold 10,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the transaction, the director now directly owns 123,781 shares in the company, valued at $2,021,343.73. This represents a 7.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 38,000 shares of company stock worth $634,660 in the last three months. 2.00% of the stock is owned by corporate insiders.

Comstock Resources Stock Performance

Comstock Resources stock traded up $0.54 during midday trading on Friday, hitting $18.44. The company's stock had a trading volume of 805,326 shares, compared to its average volume of 2,826,855. Comstock Resources, Inc. has a 1-year low of $7.74 and a 1-year high of $22.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The company has a 50-day moving average price of $19.06 and a two-hundred day moving average price of $15.13. The company has a market cap of $5.40 billion, a price-to-earnings ratio of -24.27, a PEG ratio of 1.65 and a beta of 0.55.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. The company had revenue of $366.51 million during the quarter, compared to analysts' expectations of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. As a group, sell-side analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on CRK shares. Morgan Stanley started coverage on shares of Comstock Resources in a research note on Friday, January 10th. They set an "equal weight" rating and a $18.00 price target on the stock. Citigroup increased their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the company a "neutral" rating in a research note on Friday, December 6th. Truist Financial raised their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Mizuho raised shares of Comstock Resources from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Finally, Piper Sandler raised their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $13.36.

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.