Prime Capital Investment Advisors LLC Sells 44,976 Shares of Comstock Resources, Inc. (NYSE:CRK)

Prime Capital Investment Advisors LLC lessened its holdings in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 67.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,049 shares of the oil and gas producer's stock after selling 44,976 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Comstock Resources were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Comstock Resources during the 3rd quarter worth approximately $25,000. Blue Trust Inc. purchased a new stake in Comstock Resources in the second quarter worth $32,000. EverSource Wealth Advisors LLC raised its stake in shares of Comstock Resources by 2,533.8% in 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 stake in shares of Comstock Resources by 27.5% in 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, Choreo LLC purchased a new position in shares of Comstock Resources during the 2nd quarter valued at $105,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Drilling L.P. Arkoma acquired 592,246 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were bought at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the acquisition, the insider now owns 208,219,992 shares in the company, valued at approximately $2,402,858,707.68. This represents a 0.29 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 2,680,646 shares of company stock valued at $29,692,057 in the last quarter. Corporate insiders own 2.00% of the company's stock.

Comstock Resources Price Performance

NYSE:CRK traded up $0.53 during trading hours on Monday, hitting $13.90. 1,868,492 shares of the company's stock traded hands, compared to its average volume of 3,505,095. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $14.28. The business's fifty day simple moving average is $11.57 and its two-hundred day simple moving average is $10.93. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a market cap of $4.06 billion, a P/E ratio of -77.16 and a beta of 0.47.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.01). The business had revenue of $304.50 million for the quarter, compared to the consensus estimate 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 was down 19.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. On average, research analysts anticipate that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America assumed coverage on Comstock Resources in a report on Monday, October 28th. They issued a "buy" rating and a $14.00 price objective for the company. Mizuho lowered their price target on shares of 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 cut shares of Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price target on the stock. in a research note on Tuesday, October 15th. BMO Capital Markets boosted their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a report on Friday, October 4th. Finally, Truist Financial increased their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $10.31.

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.