Hennessy Advisors Inc. Sells 30,000 Shares of Comstock Resources, Inc. (NYSE:CRK)

Hennessy Advisors Inc. lowered its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 75.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,000 shares of the oil and gas producer’s stock after selling 30,000 shares during the period. Hennessy Advisors Inc.’s holdings in Comstock Resources were worth $182,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position 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. KGH Ltd raised its stake in Comstock Resources by 8.7% during the 2nd quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock valued at $125,858,000 after buying an additional 975,000 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Comstock Resources by 775.4% during the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock valued at $9,086,000 after buying an additional 775,371 shares during the period. HITE Hedge Asset Management LLC purchased a new position in shares of Comstock Resources in the 2nd quarter worth $6,544,000. Finally, Royce & Associates LP grew its holdings in shares of Comstock Resources by 79.2% in the third quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock worth $7,677,000 after acquiring an additional 304,780 shares during the period. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insider Buying and Selling

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the sale, the director now owns 143,781 shares in the company, valued at $2,245,859.22. The trade was 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. Over the last quarter, insiders sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is owned by insiders.

Comstock Resources Price Performance

Shares of Comstock Resources stock opened at $21.36 on Friday. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of -118.68 and a beta of 0.51. 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 stock’s 50-day simple moving average is $16.62 and its 200-day simple moving average is $12.81. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $21.75.

Comstock Resources (NYSE:CRK) last posted 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). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The business had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $308.75 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, analysts expect that Comstock Resources, Inc. will post -0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

CRK has been the topic of a number of recent research reports. Bank of America started coverage on Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Morgan Stanley started coverage on shares of Comstock Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $18.00 target price for the company. Truist Financial lifted their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, BMO Capital Markets upped their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Four 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.30.

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.