Comstock Resources, Inc. $CRK Stock Holdings Cut by Royce & Associates LP

Royce & Associates LP reduced its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 392,575 shares of the oil and gas producer’s stock after selling 42,900 shares during the quarter. Royce & Associates LP owned about 0.13% of Comstock Resources worth $9,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC boosted its stake in Comstock Resources by 3.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock valued at $276,000 after purchasing an additional 500 shares in the last quarter. Carrera Capital Advisors boosted its stake in Comstock Resources by 0.7% during the 4th quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer’s stock valued at $1,922,000 after purchasing an additional 606 shares in the last quarter. Uhlmann Price Securities LLC boosted its stake in Comstock Resources by 2.4% during the 3rd quarter. Uhlmann Price Securities LLC now owns 27,653 shares of the oil and gas producer’s stock valued at $548,000 after purchasing an additional 650 shares in the last quarter. GAMMA Investing LLC boosted its stake in Comstock Resources by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock valued at $146,000 after purchasing an additional 679 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Comstock Resources by 14.2% during the 4th quarter. Farther Finance Advisors LLC now owns 6,435 shares of the oil and gas producer’s stock valued at $149,000 after purchasing an additional 802 shares in the last quarter. 36.13% of the stock is owned by institutional investors.

Comstock Resources Price Performance

CRK opened at $13.63 on Friday. The stock has a fifty day moving average of $17.35 and a 200-day moving average of $20.63. The firm has a market capitalization of $4.00 billion, a P/E ratio of 6.22 and a beta of 0.22. Comstock Resources, Inc. has a 12-month low of $12.84 and a 12-month high of $31.17. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The business had revenue of $587.35 million during the quarter, compared to analysts’ expectations of $554.02 million. Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. Comstock Resources’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 EPS. Equities analysts forecast that Comstock Resources, Inc. will post 0.64 EPS for the current fiscal year.

Insider Activity at Comstock Resources

In other news, VP Patrick Mcgough sold 48,915 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the transaction, the vice president directly owned 187,516 shares in the company, valued at $3,975,339.20. The trade was a 20.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on CRK shares. Morgan Stanley dropped their price target on Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. Mizuho dropped their price target on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a report on Wednesday, April 15th. Finally, Wall Street Zen cut Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $18.89.

About Comstock Resources

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.