Parametrica Management Ltd Buys Shares of 59,376 Comstock Resources, Inc. (NYSE:CRK)

Parametrica Management Ltd bought a new position in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 59,376 shares of the oil and gas producer's stock, valued at approximately $661,000. Comstock Resources comprises 0.8% of Parametrica Management Ltd's portfolio, making the stock its 28th biggest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new position in shares of Comstock Resources in the third quarter valued at approximately $25,000. Blue Trust Inc. acquired a new stake in Comstock Resources during the 2nd quarter valued at approximately $32,000. EverSource Wealth Advisors LLC increased its position in Comstock Resources by 2,533.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 3,446 shares during the period. GAMMA Investing LLC increased its position in Comstock Resources by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer's stock valued at $63,000 after purchasing an additional 1,312 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Comstock Resources during the 1st quarter valued at approximately $91,000. Institutional investors own 36.13% of the company's stock.

Comstock Resources Stock Performance

CRK traded down $0.24 during trading hours on Wednesday, hitting $13.79. The stock had a trading volume of 2,179,153 shares, compared to its average volume of 3,529,854. The company's fifty day simple moving average is $11.42 and its 200 day simple moving average is $10.88. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $14.28. The stock has a market cap of $4.03 billion, a PE ratio of -76.61 and a beta of 0.47. 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 (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). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm had revenue of $304.50 million during the quarter, compared to analysts' expectations of $308.75 million. During the same period last year, the business posted $0.04 EPS. The company's revenue was down 19.2% compared to the same quarter last year. Equities analysts anticipate that Comstock Resources, Inc. will post -0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CRK has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on shares of Comstock Resources in a research report on Thursday, July 18th. They set a "peer perform" rating for the company. Bank of America began coverage on Comstock Resources in a report on Monday, October 28th. They issued a "buy" rating and a $14.00 target price on the stock. Mizuho dropped their price objective on Comstock Resources from $11.00 to $10.00 and set an "underperform" rating on the stock in a research note on Monday, September 16th. Piper Sandler cut Comstock Resources from a "neutral" rating to an "underweight" rating and dropped their price objective for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Finally, Truist Financial raised their price objective on Comstock Resources from $9.00 to $10.00 and gave the company a "hold" rating in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $10.31.

Insider Buying and Selling

In other news, major shareholder Drilling L.P. Arkoma acquired 573,453 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price of $10.64 per share, with a total value of $6,101,539.92. Following the acquisition, the insider now owns 203,450,946 shares in the company, valued at $2,164,718,065.44. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 3,254,099 shares of company stock valued at $35,793,597. 2.00% of the stock is owned by insiders.

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.