Cross Staff Investments Inc Has $4.66 Million Stake in Comstock Resources, Inc. (NYSE:CRK)

Cross Staff Investments Inc trimmed its stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 16.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 418,813 shares of the oil and gas producer's stock after selling 81,908 shares during the period. Comstock Resources makes up about 3.6% of Cross Staff Investments Inc's portfolio, making the stock its 5th biggest position. Cross Staff Investments Inc owned about 0.14% of Comstock Resources worth $4,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Comstock Resources by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer's stock worth $121,414,000 after buying an additional 2,438,252 shares during the period. KGH Ltd raised its holdings in shares of Comstock Resources by 8.7% in the second quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer's stock worth $125,858,000 after buying an additional 975,000 shares during the period. Millennium Management LLC raised its holdings in shares of Comstock Resources by 775.4% in the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer's stock worth $9,086,000 after buying an additional 775,371 shares during the period. HITE Hedge Asset Management LLC purchased a new stake in shares of Comstock Resources in the second quarter worth approximately $6,544,000. Finally, American Century Companies Inc. raised its holdings in shares of Comstock Resources by 19.0% in the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer's stock worth $23,567,000 after buying an additional 362,043 shares during the period. 36.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma purchased 825,868 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $9.76 per share, with a total value of $8,060,471.68. Following the transaction, the insider now owns 198,949,901 shares in the company, valued at approximately $1,941,751,033.76. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Star Exploration Corp Blue bought 825,000 shares of the firm's stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $8.16 per share, for a total transaction of $6,732,000.00. Following the transaction, the insider now owns 195,646,429 shares in the company, valued at approximately $1,596,474,860.64. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Drilling L.P. Arkoma bought 825,868 shares of the firm's stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $9.76 per share, with a total value of $8,060,471.68. Following the transaction, the insider now owns 198,949,901 shares in the company, valued at $1,941,751,033.76. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 6,712,733 shares of company stock valued at $67,816,851. Company insiders own 1.50% of the company's stock.

Comstock Resources Stock Performance

CRK remained flat at $12.01 during trading on Friday. The company's stock had a trading volume of 1,613,546 shares, compared to its average volume of 3,590,524. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $13.39. The firm has a 50-day moving average of $10.92 and a two-hundred day moving average of $10.59. The company has a market capitalization of $3.51 billion, a P/E ratio of 54.59 and a beta of 0.47. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.59.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The company 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 business's quarterly revenue was down 14.4% on a year-over-year basis. Equities analysts predict that Comstock Resources, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Siebert Williams Shank downgraded Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price target on the stock. in a report on Tuesday, October 15th. Mizuho dropped their target price on Comstock Resources from $11.00 to $10.00 and set an "underperform" rating on the stock in a research report on Monday, September 16th. Piper Sandler cut Comstock Resources from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $8.00 to $5.00 in a research report on Thursday, August 15th. BMO Capital Markets lifted their price target on Comstock Resources from $10.00 to $11.00 and gave the stock a "market perform" rating in a research report on Friday, October 4th. Finally, Wolfe Research started coverage on Comstock Resources in a research report on Thursday, July 18th. They set a "peer perform" rating for the company. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $9.79.

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.