Keynote Financial Services LLC Has $1.11 Million Position in Comstock Resources, Inc. (NYSE:CRK)

Keynote Financial Services LLC lessened its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 2.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 100,093 shares of the oil and gas producer’s stock after selling 2,100 shares during the period. Keynote Financial Services LLC’s holdings in Comstock Resources were worth $1,114,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. KGH Ltd boosted its holdings in Comstock Resources by 8.7% during the second quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock worth $125,858,000 after buying an additional 975,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Comstock Resources by 26.3% during the second quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock valued at $121,414,000 after purchasing an additional 2,438,252 shares during the period. American Century Companies Inc. grew its holdings in Comstock Resources by 19.0% during the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock valued at $23,567,000 after purchasing an additional 362,043 shares during the period. Millennium Management LLC increased its stake in Comstock Resources by 775.4% in the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock valued at $9,086,000 after purchasing an additional 775,371 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Comstock Resources by 20.7% during the second quarter. Marshall Wace LLP now owns 873,918 shares of the oil and gas producer’s stock worth $9,071,000 after purchasing an additional 149,760 shares in the last quarter. Institutional investors own 36.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Bank of America began coverage on Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Mizuho dropped their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Wolfe Research initiated coverage on shares of Comstock Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a report on Tuesday, October 15th. Finally, Piper Sandler lowered shares of Comstock Resources from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $5.00 in a research note on Thursday, August 15th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.31.

Insider Activity at Comstock Resources

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma acquired 981,898 shares of the company’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $10.13 per share, for a total transaction of $9,946,626.74. Following the completion of the purchase, the insider now directly owns 199,931,799 shares of the company’s stock, valued at approximately $2,025,309,123.87. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders bought 4,235,997 shares of company stock worth $45,740,224. Insiders own 2.00% of the company’s stock.

Comstock Resources Trading Up 1.5 %

Shares of Comstock Resources stock opened at $13.08 on Friday. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $13.12. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. The business’s 50 day moving average is $11.14 and its 200-day moving average is $10.77. The stock has a market cap of $3.82 billion, a P/E ratio of -72.66 and a beta of 0.47.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) 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 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 business’s revenue was down 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. Equities research analysts predict that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

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.