Amalgamated Bank Reduces Position in Comstock Resources, Inc. (NYSE:CRK)

Amalgamated Bank trimmed its position in Comstock Resources, Inc. (NYSE:CRK) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,857 shares of the oil and gas producer’s stock after selling 1,983 shares during the period. Amalgamated Bank’s holdings in Comstock Resources were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in Comstock Resources during the 3rd quarter worth approximately $25,000. Blue Trust Inc. acquired a new stake in shares of Comstock Resources in the second quarter worth $32,000. EverSource Wealth Advisors LLC increased its stake in shares of Comstock Resources by 2,533.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 3,446 shares during the period. GAMMA Investing LLC raised its holdings in shares of Comstock Resources by 27.5% during the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 1,312 shares during the last quarter. Finally, Payden & Rygel Investment Group acquired a new position in Comstock Resources during the first quarter valued at $99,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Trading Down 0.1 %

Shares of NYSE:CRK opened at $13.37 on Monday. The business’s 50 day moving average price is $11.57 and its 200-day moving average price is $10.93. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $14.28. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of -74.27 and a beta of 0.47. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The company had revenue of $304.50 million for the quarter, compared to analysts’ expectations of $308.75 million. During the same period in the previous year, the business earned $0.04 earnings per share. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. On average, equities research analysts forecast that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Mizuho cut their price target on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a research report on Monday, September 16th. Bank of America began coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 target price on the stock. Truist Financial boosted their price target on Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday, September 30th. BMO Capital Markets raised their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Finally, Siebert Williams Shank cut shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.31.

Insider Activity at Comstock Resources

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma bought 1,044,200 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average price of $10.93 per share, with a total value of $11,413,106.00. Following the completion of the acquisition, the insider now directly owns 204,495,146 shares of the company’s stock, valued at $2,235,131,945.78. This represents a 0.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have purchased 2,680,646 shares of company stock valued at $29,692,057. 2.00% of the stock is owned by corporate insiders.

Comstock Resources Company 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.