Comstock Resources, Inc. (NYSE:CRK) Shares Sold by Capital Square LLC

Capital Square LLC cut its stake in Comstock Resources, Inc. (NYSE:CRK) by 7.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,450 shares of the oil and gas producer’s stock after selling 5,200 shares during the quarter. Capital Square LLC’s holdings in Comstock Resources were worth $644,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Comstock Resources by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer’s stock worth $95,838,000 after buying an additional 34,231 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Comstock Resources by 29.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock worth $72,035,000 after purchasing an additional 1,833,302 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Comstock Resources by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,015,403 shares of the oil and gas producer’s stock worth $8,986,000 after purchasing an additional 93,140 shares during the period. Stifel Financial Corp grew its holdings in shares of Comstock Resources by 2.2% during the 4th quarter. Stifel Financial Corp now owns 667,956 shares of the oil and gas producer’s stock worth $5,911,000 after purchasing an additional 14,683 shares during the period. Finally, Rafferty Asset Management LLC boosted its holdings in Comstock Resources by 57.4% during the 4th quarter. Rafferty Asset Management LLC now owns 619,684 shares of the oil and gas producer’s stock valued at $5,484,000 after acquiring an additional 226,021 shares during the period. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Price Performance

Shares of Comstock Resources stock traded down $0.46 during trading on Tuesday, reaching $10.17. The company’s stock had a trading volume of 94,717 shares, compared to its average volume of 3,905,912. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $13.39. The company has a market capitalization of $2.97 billion, a P/E ratio of 48.32 and a beta of 0.51. The business has a 50 day moving average price of $10.31 and a 200-day moving average price of $9.96.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The firm had revenue of $246.80 million for the quarter, compared to analyst estimates of $296.02 million. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The firm’s revenue was down 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Comstock Resources, Inc. will post -0.33 EPS for the current year.

Insider Transactions at Comstock Resources

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma bought 592,246 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average cost of $11.54 per share, for a total transaction of $6,834,518.84. Following the completion of the purchase, the insider now owns 208,219,992 shares of the company’s stock, valued at approximately $2,402,858,707.68. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Star Exploration Corp Blue purchased 825,868 shares of the stock in a transaction on Wednesday, August 7th. The stock was purchased at an average price of $8.82 per share, with a total value of $7,284,155.76. Following the completion of the transaction, the insider now owns 197,298,165 shares in the company, valued at $1,740,169,815.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Drilling L.P. Arkoma purchased 592,246 shares of the stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the transaction, the insider now owns 208,219,992 shares of the company’s stock, valued at approximately $2,402,858,707.68. The disclosure for this purchase can be found here. Insiders purchased a total of 6,712,733 shares of company stock valued at $67,816,851 over the last three months. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wolfe Research assumed coverage on Comstock Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Piper Sandler lowered Comstock Resources from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $8.00 to $5.00 in a research report on Thursday, August 15th. Mizuho increased their price target on Comstock Resources from $10.00 to $11.00 and gave the company an “underperform” rating in a research report on Monday, May 13th. Truist Financial increased their price target on Comstock Resources from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Finally, Capital One Financial lowered Comstock Resources from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 15th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.75.

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.