Comstock Resources, Inc. (NYSE:CRK) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,338 shares of the oil and gas producer's stock after buying an additional 13,998 shares during the period. JPMorgan Chase & Co. owned 0.06% of Comstock Resources worth $1,896,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in shares of Comstock Resources during the third quarter worth about $169,000. Barclays PLC grew its stake in 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 during the last quarter. Sunbelt Securities Inc. increased its position in Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer's stock worth $27,000 after buying an additional 1,400 shares during the period. XTX Topco Ltd lifted its stake in Comstock Resources by 74.1% in the third quarter. XTX Topco Ltd now owns 50,127 shares of the oil and gas producer's stock valued at $558,000 after buying an additional 21,336 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of Comstock Resources in the third quarter valued at approximately $1,263,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were 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 trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 38,000 shares of company stock valued at $634,660 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Comstock Resources Trading Down 0.6 %

Shares of CRK stock traded down $0.13 during mid-day trading on Thursday, hitting $21.18. 1,800,745 shares of the company's stock were exchanged, compared to its average volume of 2,717,341. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of -117.66, a PEG ratio of 2.48 and a beta of 0.51. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $22.06. The stock has a 50-day simple moving average of $17.05 and a two-hundred day simple moving average of $13.03.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $304.50 million for the quarter, compared to analysts' expectations of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company's revenue was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 earnings per share. Equities analysts expect that Comstock Resources, Inc. will post -0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRK. Truist Financial increased their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Citigroup boosted their target price on Comstock Resources from $12.50 to $15.50 and gave the company a "neutral" rating in a report on Friday, December 6th. Morgan Stanley began coverage on Comstock Resources in a research note on Friday, January 10th. They set an "equal weight" rating and a $18.00 price target for the company. BMO Capital Markets lifted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a research report on Friday, October 4th. Finally, Mizuho raised Comstock Resources from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $10.00 to $18.00 in a report on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Comstock Resources currently has a consensus rating of "Hold" and a consensus price target of $13.30.

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.