Weiss Asset Management LP Acquires Shares of 113,505 Comstock Resources, Inc. (NYSE:CRK)

Weiss Asset Management LP bought a new position in Comstock Resources, Inc. (NYSE:CRK - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 113,505 shares of the oil and gas producer's stock, valued at approximately $1,263,000.

Several other hedge funds have also modified their holdings of CRK. Price T Rowe Associates Inc. MD grew its stake in Comstock Resources by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 58,821 shares of the oil and gas producer's stock worth $546,000 after buying an additional 4,053 shares during the last quarter. Simplicity Wealth LLC increased its holdings in shares of Comstock Resources by 5.7% during the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer's stock valued at $296,000 after acquiring an additional 1,552 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Comstock Resources during the second quarter valued at about $715,000. Blue Trust Inc. purchased a new position in shares of Comstock Resources in the 2nd quarter valued at approximately $32,000. Finally, Louisiana State Employees Retirement System boosted its stake in Comstock Resources by 6.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the oil and gas producer's stock worth $503,000 after purchasing an additional 3,000 shares in the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Performance

Comstock Resources stock traded up $0.23 during mid-day trading on Monday, hitting $14.75. The company had a trading volume of 1,410,251 shares, compared to its average volume of 3,404,825. 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's fifty day moving average is $12.98 and its 200-day moving average is $11.41. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $15.84.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a research note on Friday, October 4th. Siebert Williams Shank lowered Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 target price for the company. in a research note on Tuesday, October 15th. Piper Sandler cut Comstock Resources from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $8.00 to $5.00 in a research report on Thursday, August 15th. Truist Financial increased their price objective on Comstock Resources from $9.00 to $10.00 and gave the company a "hold" rating in a report on Monday, September 30th. Finally, Citigroup lifted their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a report on Friday. Five equities research analysts have rated the stock with a sell rating, eight 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 presently has an average rating of "Hold" and a consensus target price of $10.89.

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.