Royce & Associates LP Raises Stock Holdings in Comstock Resources, Inc. (NYSE:CRK)

Royce & Associates LP raised its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 79.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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’s holdings in Comstock Resources were worth $7,677,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Doliver Advisors LP boosted its holdings in shares of Comstock Resources by 3.9% during the third quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock worth $294,000 after purchasing an additional 988 shares during the period. ProShare Advisors LLC raised its position in Comstock Resources by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock valued at $172,000 after purchasing an additional 1,276 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Comstock Resources by 27.5% in the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock worth $63,000 after buying an additional 1,312 shares during the period. XTX Topco Ltd grew its position in shares of Comstock Resources by 4.8% in the 2nd quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock worth $299,000 after buying an additional 1,330 shares during the last quarter. Finally, Simplicity Wealth LLC increased its stake in shares of Comstock Resources by 5.7% during the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock valued at $296,000 after buying an additional 1,552 shares during the period. Institutional investors own 36.13% of the company’s stock.

Insider Activity at Comstock Resources

In other news, major shareholder Drilling L.P. Arkoma acquired 592,246 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $11.54 per share, for a total transaction of $6,834,518.84. Following the acquisition, the insider now directly owns 208,219,992 shares in the company, valued at approximately $2,402,858,707.68. The trade was a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have bought 2,680,646 shares of company stock valued at $29,692,057. 2.00% of the stock is owned by insiders.

Comstock Resources Stock Performance

Shares of CRK opened at $13.37 on Monday. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $14.28. 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 has a market cap of $3.91 billion, a P/E ratio of -74.27 and a beta of 0.47. The business’s 50 day moving average price is $11.57 and its 200-day moving average price is $10.93.

Comstock Resources (NYSE:CRK) last released its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing the consensus estimate 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 company had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. During the same period last year, the firm posted $0.04 earnings per share. The company’s revenue was down 19.2% compared to the same quarter last year. Equities research analysts anticipate that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America initiated coverage on Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 price target for the company. BMO Capital Markets lifted their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Truist Financial boosted their price target 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. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a report on Tuesday, October 15th. Finally, Piper Sandler lowered 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 research report on Thursday, August 15th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Comstock Resources has an average rating of “Hold” and a consensus price target of $10.31.

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.