Royce & Associates LP Purchases 304,780 Shares of Comstock Resources, Inc. (NYSE:CRK)

Royce & Associates LP grew its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 79.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 689,780 shares of the oil and gas producer’s stock after buying an additional 304,780 shares during the period. Royce & Associates LP owned 0.24% of Comstock Resources worth $7,677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Seven Eight Capital LP purchased a new stake in Comstock Resources during the first quarter valued at about $813,000. Keynote Financial Services LLC bought a new position in Comstock Resources in the 1st quarter worth approximately $930,000. Goehring & Rozencwajg Associates LLC grew its stake in Comstock Resources by 27.8% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer’s stock valued at $7,095,000 after buying an additional 148,700 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new position in Comstock Resources in the 2nd quarter valued at approximately $6,544,000. Finally, Squarepoint Ops LLC raised its holdings in Comstock Resources by 285.9% during the 2nd 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. Institutional investors own 36.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Mizuho reduced their price target on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research report on Tuesday, October 15th. Truist Financial raised their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Piper Sandler lowered shares of Comstock Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $8.00 to $5.00 in a report on Thursday, August 15th. Finally, BMO Capital Markets raised their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Comstock Resources has a consensus rating of “Hold” and a consensus price target of $10.31.

Comstock Resources Stock Down 0.1 %

Shares of NYSE:CRK opened at $13.37 on Monday. The firm has a market capitalization of $3.91 billion, a PE ratio of -74.27 and a beta of 0.47. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $14.28. The firm has a fifty day moving average of $11.57 and a 200 day moving average of $10.93.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The firm had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. Comstock Resources’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. As a group, research analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma bought 1,044,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average price of $10.93 per share, for a total transaction of $11,413,106.00. Following the transaction, the insider now directly owns 204,495,146 shares in the company, valued at $2,235,131,945.78. This trade represents a 0.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 2,680,646 shares of company stock worth $29,692,057 over the last ninety days. Insiders own 2.00% of the company’s stock.

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.