Isthmus Partners LLC Sells 49,618 Shares of Comstock Resources, Inc. (NYSE:CRK)

Isthmus Partners LLC lessened its position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 17.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 235,662 shares of the oil and gas producer's stock after selling 49,618 shares during the period. Isthmus Partners LLC owned approximately 0.08% of Comstock Resources worth $2,623,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRK. Royce & Associates LP boosted its stake 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 period. Keynote Financial Services LLC bought a new stake in shares of Comstock Resources in the first quarter valued at about $930,000. Goehring & Rozencwajg Associates LLC boosted its position in shares of Comstock Resources by 27.8% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer's stock valued at $7,095,000 after acquiring an additional 148,700 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of Comstock Resources in the second quarter valued at about $6,544,000. Finally, Parametrica Management Ltd bought a new position in Comstock Resources during the third quarter worth about $661,000. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Price Performance

Shares of CRK traded up $0.17 during mid-day trading on Friday, reaching $15.59. The company had a trading volume of 766,264 shares, compared to its average volume of 3,452,765. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of -86.58 and a beta of 0.47. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The company's 50 day simple moving average is $12.60 and its 200 day simple moving average is $11.26. Comstock Resources, Inc. has a 1-year low of $7.07 and a 1-year high of $15.84.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $308.75 million. During the same period in the previous year, the company earned $0.04 EPS. Comstock Resources's revenue for the quarter was down 19.2% on a year-over-year basis. Analysts expect that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Analyst Upgrades and Downgrades

CRK has been the subject of a number of recent research reports. BMO Capital Markets boosted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a report on Friday, October 4th. Bank of America assumed coverage on Comstock Resources in a research note on Monday, October 28th. They set a "buy" rating and a $14.00 price objective on the stock. Piper Sandler lowered Comstock Resources from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $8.00 to $5.00 in a report on Thursday, August 15th. Truist Financial raised their price target on Comstock Resources from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Monday, September 30th. Finally, Mizuho cut their price objective on shares of Comstock Resources from $11.00 to $10.00 and set an "underperform" rating for the company in a research report on Monday, September 16th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Comstock Resources presently has a consensus rating of "Hold" and a consensus price target of $10.31.

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.