Comstock Resources, Inc. (NYSE:CRK) Stake Boosted by Royce & Associates LP

Royce & Associates LP lifted its position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 79.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 689,780 shares of the oil and gas producer's stock after acquiring an additional 304,780 shares during the quarter. Royce & Associates LP owned 0.24% of Comstock Resources worth $7,677,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Seven Eight Capital LP acquired a new position in Comstock Resources during the 1st quarter worth approximately $813,000. Keynote Financial Services LLC purchased a new stake in shares of Comstock Resources in the first quarter valued at approximately $930,000. Goehring & Rozencwajg Associates LLC grew its holdings in Comstock Resources by 27.8% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer's stock worth $7,095,000 after acquiring an additional 148,700 shares during the period. HITE Hedge Asset Management LLC purchased a new position in Comstock Resources in the second quarter worth $6,544,000. Finally, Squarepoint Ops LLC lifted its holdings in Comstock Resources by 285.9% in the second quarter. Squarepoint Ops LLC now owns 216,806 shares of the oil and gas producer's stock valued at $2,250,000 after acquiring an additional 160,619 shares during the period. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Trading Up 3.9 %

Shares of NYSE CRK traded up $0.52 on Monday, reaching $13.89. 1,868,492 shares of the company traded hands, compared to its average volume of 3,505,095. The stock has a market capitalization of $4.06 billion, a PE ratio of -77.16 and a beta of 0.47. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $14.28. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The company has a 50 day moving average of $11.57 and a 200 day moving average of $10.93.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The business's revenue for the quarter was down 19.2% on a year-over-year basis. During the same period last year, the company posted $0.04 EPS. On average, equities research analysts forecast that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CRK has been the subject of a number of research analyst reports. Siebert Williams Shank downgraded shares of Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price target for the company. in a report on Tuesday, October 15th. Piper Sandler cut shares of Comstock Resources from a "neutral" rating to an "underweight" rating and dropped their target price for the company from $8.00 to $5.00 in a report on Thursday, August 15th. Bank of America initiated coverage on Comstock Resources in a research note on Monday, October 28th. They set a "buy" rating and a $14.00 price target on the stock. BMO Capital Markets raised their price objective on Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a research note on Friday, October 4th. Finally, Mizuho decreased 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. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $10.31.

Insider Transactions at Comstock Resources

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma purchased 1,044,200 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $10.96 per share, with a total value of $11,444,432.00. Following the transaction, the insider now owns 206,583,546 shares in the company, valued at approximately $2,264,155,664.16. This trade represents a 0.51 % 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. Insiders bought a total of 2,680,646 shares of company stock worth $29,692,057 in the last ninety days. Insiders own 2.00% of the company's stock.

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.