Stifel Financial Corp Sells 49,096 Shares of Comstock Resources, Inc. (NYSE:CRK)

Stifel Financial Corp decreased its stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 777,824 shares of the oil and gas producer's stock after selling 49,096 shares during the period. Stifel Financial Corp owned 0.27% of Comstock Resources worth $8,657,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Royce & Associates LP raised its position in 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 during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $15,736,000 after buying an additional 57,376 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Comstock Resources during the third quarter worth about $419,000. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Comstock Resources by 27.8% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer's stock worth $7,095,000 after buying an additional 148,700 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Comstock Resources during the second quarter worth about $6,544,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho decreased their price objective on Comstock Resources from $11.00 to $10.00 and set an "underperform" rating for the company in a research report on Monday, September 16th. Bank of America assumed coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a "buy" rating and a $14.00 price objective on the stock. Truist Financial upped their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Monday, September 30th. Piper Sandler lowered Comstock Resources from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $8.00 to $5.00 in a report on Thursday, August 15th. Finally, BMO Capital Markets upped their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a "market perform" rating in a research note on Friday, October 4th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $10.89.

Comstock Resources Price Performance

Shares of Comstock Resources stock traded down $0.79 on Friday, hitting $16.80. The company had a trading volume of 1,720,355 shares, compared to its average volume of 3,394,399. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $17.79. The company has a market cap of $4.91 billion, a PE ratio of -93.30 and a beta of 0.57. The business has a 50-day simple moving average of $13.45 and a 200-day simple moving average of $11.59. 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 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 company had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm's revenue for the quarter was down 19.2% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. Research analysts expect that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

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.