Comstock Resources, Inc. (NYSE:CRK) Stake Trimmed by Foundry Partners LLC

Foundry Partners LLC cut its position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 50.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 231,803 shares of the oil and gas producer's stock after selling 237,709 shares during the quarter. Foundry Partners LLC owned 0.08% of Comstock Resources worth $2,406,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Comstock Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer's stock valued at $95,838,000 after buying an additional 34,231 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Comstock Resources by 29.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer's stock valued at $72,035,000 after buying an additional 1,833,302 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Comstock Resources by 10.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,015,403 shares of the oil and gas producer's stock valued at $8,986,000 after buying an additional 93,140 shares during the last quarter. Stifel Financial Corp lifted its stake in Comstock Resources by 2.2% in the fourth quarter. Stifel Financial Corp now owns 667,956 shares of the oil and gas producer's stock valued at $5,911,000 after buying an additional 14,683 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in Comstock Resources by 57.4% in the fourth quarter. Rafferty Asset Management LLC now owns 619,684 shares of the oil and gas producer's stock valued at $5,484,000 after buying an additional 226,021 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRK. KeyCorp began coverage on Comstock Resources in a research note on Thursday, June 27th. They issued a "sector weight" rating on the stock. Capital One Financial cut shares of Comstock Resources from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, May 15th. The Goldman Sachs Group lifted their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a "sell" rating in a research note on Tuesday, May 28th. Wolfe Research started coverage on shares of Comstock Resources in a research note on Thursday, July 18th. They set a "peer perform" rating on the stock. Finally, Piper Sandler cut shares of Comstock Resources from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $9.75.

Insider Buying and Selling

In other news, major shareholder Drilling L.P. Arkoma bought 592,246 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the completion of the acquisition, the insider now directly owns 208,219,992 shares in the company, valued at $2,402,858,707.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Drilling L.P. Arkoma purchased 592,246 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $11.54 per share, with a total value of $6,834,518.84. Following the purchase, the insider now owns 208,219,992 shares of the company's stock, valued at approximately $2,402,858,707.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Star Exploration Corp Blue purchased 825,868 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $8.82 per share, for a total transaction of $7,284,155.76. Following the purchase, the insider now directly owns 197,298,165 shares in the company, valued at approximately $1,740,169,815.30. The disclosure for this purchase can be found here. Insiders have bought a total of 6,712,733 shares of company stock valued at $67,816,851 over the last three months. Company insiders own 1.50% of the company's stock.

Comstock Resources Price Performance

NYSE:CRK traded down $0.19 during mid-day trading on Friday, reaching $9.52. 2,453,855 shares of the stock were exchanged, compared to its average volume of 3,895,390. The business has a fifty day moving average price of $10.24 and a 200 day moving average price of $10.00. The firm has a market capitalization of $2.78 billion, a PE ratio of 43.27 and a beta of 0.48. Comstock Resources, Inc. has a 1-year low of $7.07 and a 1-year high of $13.39. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Comstock Resources (NYSE:CRK - Get Free Report) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.04). The firm had revenue of $246.80 million for the quarter, compared to analyst estimates of $296.02 million. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The firm's quarterly revenue was down 14.4% compared to the same quarter last year. Research analysts expect that Comstock Resources, Inc. will post -0.33 earnings per share 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.