Geode Capital Management LLC Sells 49,369 Shares of Comstock Resources, Inc. (NYSE:CRK)

Geode Capital Management LLC cut its holdings in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,115,407 shares of the oil and gas producer's stock after selling 49,369 shares during the quarter. Geode Capital Management LLC owned approximately 0.72% of Comstock Resources worth $23,549,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CRK. Barclays PLC increased its stake 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 purchasing an additional 111,934 shares during the last quarter. XTX Topco Ltd grew its holdings in Comstock Resources by 74.1% during the third quarter. XTX Topco Ltd now owns 50,127 shares of the oil and gas producer's stock valued at $558,000 after purchasing an additional 21,336 shares during the period. Weiss Asset Management LP purchased a new stake in Comstock Resources in the third quarter worth $1,263,000. Verition Fund Management LLC raised its stake in shares of Comstock Resources by 267.8% in the third quarter. Verition Fund Management LLC now owns 141,143 shares of the oil and gas producer's stock valued at $1,571,000 after buying an additional 102,767 shares during the period. Finally, FMR LLC lifted its position in shares of Comstock Resources by 266.2% during the 3rd quarter. FMR LLC now owns 25,415 shares of the oil and gas producer's stock valued at $283,000 after buying an additional 18,475 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the completion of the sale, the director now owns 123,781 shares of the company's stock, valued at $2,021,343.73. This represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 30,000 shares of company stock worth $489,300 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

CRK has been the subject of several recent research reports. Citigroup lifted their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a report on Friday, December 6th. Truist Financial lifted their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Monday, September 30th. Bank of America started coverage on shares of Comstock Resources in a research note on Monday, October 28th. They set a "buy" rating and a $14.00 price target on the stock. Mizuho raised shares of Comstock Resources from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Finally, Siebert Williams Shank cut shares of Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 target price on the stock. in a report on Tuesday, October 15th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.78.

Comstock Resources Price Performance

Shares of CRK stock traded up $0.43 during trading on Friday, hitting $17.09. The company had a trading volume of 1,309,654 shares, compared to its average volume of 3,338,811. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $17.79. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of -94.94 and a beta of 0.57. 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 stock's 50-day moving average is $14.36 and its two-hundred day moving average is $11.91.

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) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. During the same period in the previous year, the company earned $0.04 EPS. Comstock Resources's quarterly revenue was down 19.2% on a year-over-year basis. As a group, analysts predict that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

About Comstock Resources

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.