AlphaQuest LLC Sells 24,816 Shares of Comstock Resources, Inc. (NYSE:CRK)

AlphaQuest LLC lowered its position in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 88.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,371 shares of the oil and gas producer's stock after selling 24,816 shares during the quarter. AlphaQuest LLC's holdings in Comstock Resources were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC boosted its stake in Comstock Resources by 256.3% in the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer's stock worth $1,731,000 after buying an additional 111,934 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Comstock Resources by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer's stock worth $1,896,000 after buying an additional 13,998 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Comstock Resources by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer's stock worth $15,736,000 after buying an additional 57,376 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Comstock Resources during the third quarter valued at approximately $419,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Comstock Resources during the third quarter valued at approximately $169,000. Hedge funds and other institutional investors own 36.13% of the company's stock.

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Insiders Place Their Bets

In other news, Director Elizabeth B. Davis sold 10,000 shares of the firm's stock in a transaction on Friday, December 27th. The stock was sold at an average price of $16.98, for a total transaction of $169,800.00. Following the completion of the transaction, the director now directly owns 107,632 shares in the company, valued at $1,827,591.36. This trade represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 28,000 shares of company stock worth $478,460. 2.00% of the stock is owned by corporate insiders.

Comstock Resources Trading Up 0.5 %

CRK stock traded up $0.11 on Friday, reaching $19.95. The company's stock had a trading volume of 3,511,701 shares, compared to its average volume of 2,741,747. The business has a fifty day simple moving average of $19.11 and a two-hundred day simple moving average of $15.53. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The firm has a market cap of $5.84 billion, a PE ratio of -26.24, a PEG ratio of 1.65 and a beta of 0.55. Comstock Resources, Inc. has a 12-month low of $7.74 and a 12-month high of $22.06.

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

Wall Street Analysts Forecast Growth

CRK has been the subject of a number of analyst reports. Piper Sandler increased their price objective on Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a research note on Wednesday, January 29th. StockNews.com raised Comstock Resources to a "sell" rating in a research note on Thursday. Mizuho raised Comstock Resources from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Truist Financial increased their price objective on Comstock Resources from $11.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Finally, Citigroup increased their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a "neutral" rating in a research note on Friday, December 6th. Four 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, Comstock Resources presently has an average rating of "Hold" and an average target price of $13.36.

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.