Principal Financial Group Inc. Has $4.76 Million Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Principal Financial Group Inc. lowered its stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 10.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 427,213 shares of the oil and gas producer's stock after selling 48,040 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Comstock Resources worth $4,755,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in CRK. Harbor Capital Advisors Inc. acquired a new stake in Comstock Resources during the third quarter valued at approximately $25,000. Blue Trust Inc. acquired a new position in Comstock Resources during the second quarter worth $32,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 acquiring an additional 3,446 shares during the period. GAMMA Investing LLC boosted its stake in shares of Comstock Resources by 27.5% in the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer's stock valued at $63,000 after purchasing an additional 1,312 shares in the last quarter. Finally, Choreo LLC bought a new position in Comstock Resources during the 2nd quarter valued at about $105,000. Institutional investors and hedge funds own 36.13% of the company's stock.

Analyst Upgrades and Downgrades

CRK has been the subject of several recent analyst reports. Siebert Williams Shank lowered shares of Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price objective for the company. in a report on Tuesday, October 15th. Truist Financial increased their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Monday, September 30th. BMO Capital Markets upped their target price on shares of 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 price objective on Comstock Resources from $11.00 to $10.00 and set an "underperform" rating for the company in a report on Monday, September 16th. Finally, Bank of America started coverage on Comstock Resources in a research note on Monday, October 28th. They set a "buy" rating and a $14.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $10.31.

Comstock Resources Stock Performance

CRK stock traded down $0.08 during midday trading on Friday, reaching $15.15. 1,680,863 shares of the company were exchanged, compared to its average volume of 3,486,427. Comstock Resources, Inc. has a one year low of $7.07 and a one year high of $15.84. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of -83.61 and a beta of 0.47. The business has a 50-day moving average price of $11.96 and a two-hundred day moving average price of $11.04. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings results 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 net margin of 4.93% and a negative return on equity of 3.88%. The company had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. During the same quarter last year, the company posted $0.04 EPS. The firm's quarterly revenue was down 19.2% on a year-over-year basis. Equities research analysts forecast that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Drilling L.P. Arkoma bought 592,246 shares of Comstock Resources stock in a transaction dated 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 $2,402,858,707.68. This trade represents a 0.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.00% of the stock is currently owned by insiders.

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.