ACR Alpine Capital Research LLC Sells 88,000 Shares of Comstock Resources, Inc. (NYSE:CRK)

ACR Alpine Capital Research LLC reduced its position in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 72.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,738 shares of the oil and gas producer's stock after selling 88,000 shares during the quarter. ACR Alpine Capital Research LLC's holdings in Comstock Resources were worth $596,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Comstock Resources by 4.2% during the 3rd 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 acquiring an additional 57,376 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Comstock Resources by 79.2% in the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer's stock valued at $7,677,000 after purchasing an additional 304,780 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Comstock Resources by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 439,470 shares of the oil and gas producer's stock valued at $8,007,000 after purchasing an additional 12,257 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Comstock Resources by 9.0% during the 3rd 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. Finally, Barclays PLC raised its holdings in shares of Comstock Resources by 256.3% during the 3rd 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. 36.13% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of research firms have issued reports on CRK. Piper Sandler lifted their target price on Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a research report on Wednesday, January 29th. Truist Financial upped their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Mizuho upgraded shares of Comstock Resources from an "underperform" rating to a "neutral" rating and raised their target price for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Citigroup upped their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, StockNews.com upgraded Comstock Resources to a "sell" rating in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $13.40.

Comstock Resources Trading Down 10.6 %

Shares of NYSE CRK traded down $2.02 during trading on Thursday, reaching $16.92. The company had a trading volume of 2,313,673 shares, compared to its average volume of 2,859,617. The stock has a market cap of $4.95 billion, a P/E ratio of -22.26, a PEG ratio of 1.65 and a beta of 0.48. The company's fifty day moving average price is $19.08 and its 200-day moving average price is $14.87. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. 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 announced 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. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business had revenue of $366.51 million for the quarter, compared to analysts' expectations of $370.62 million. As a group, research analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Insider Transactions at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the company's stock in a transaction 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 sale, the director now owns 123,781 shares of the company's stock, valued at approximately $2,021,343.73. This represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 38,000 shares of company stock worth $634,660 over the last three months. 2.00% of the stock is 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.