Comstock Resources, Inc. (NYSE:CRK) Shares Bought by Royce & Associates LP

Royce & Associates LP boosted its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 13.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 779,410 shares of the oil and gas producer’s stock after purchasing an additional 89,630 shares during the quarter. Royce & Associates LP’s holdings in Comstock Resources were worth $14,201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its stake in Comstock Resources by 6.6% during the fourth quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock worth $470,000 after buying an additional 1,585 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Comstock Resources in the fourth quarter valued at $552,000. Edgestream Partners L.P. purchased a new stake in Comstock Resources in the fourth quarter valued at $4,430,000. Raymond James Financial Inc. purchased a new stake in Comstock Resources in the fourth quarter valued at $11,891,000. Finally, Carrera Capital Advisors purchased a new stake in Comstock Resources in the fourth quarter valued at $1,387,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley assumed coverage on Comstock Resources in a research report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price on the stock. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Thursday, February 20th. Citigroup boosted their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $10.00 to $18.00 in a report on Monday, December 16th. Finally, Truist Financial boosted their price objective on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.36.

Comstock Resources Trading Up 2.4 %

NYSE:CRK opened at $18.90 on Tuesday. The stock has a 50-day simple moving average of $19.07 and a 200-day simple moving average of $15.24. The stock has a market cap of $5.53 billion, a P/E ratio of -24.86, a P/E/G ratio of 1.65 and a beta of 0.55. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $22.06. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.14. The business had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. As a group, analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Activity at Comstock Resources

In related news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.62, for a total value of $156,200.00. Following the completion of the sale, the director now directly owns 143,781 shares of the company’s stock, valued at $2,245,859.22. This represents a 6.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 38,000 shares of company stock valued at $634,660 in the last three months. 2.00% of the stock is currently owned by company 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.