Comstock Resources, Inc. (NYSE:CRK) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its position in Comstock Resources, Inc. (NYSE:CRK) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 31,536 shares of the oil and gas producer’s stock after acquiring an additional 2,534 shares during the quarter. Empowered Funds LLC’s holdings in Comstock Resources were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Comstock Resources in the third quarter valued at approximately $25,000. Blue Trust Inc. purchased a new stake in Comstock Resources in the 2nd quarter worth $32,000. EverSource Wealth Advisors LLC raised its position in Comstock Resources by 2,533.8% during 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 lifted its holdings in 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 valued at $63,000 after purchasing an additional 1,312 shares in the last quarter. Finally, Choreo LLC acquired a new stake in shares of Comstock Resources in the second quarter valued at about $105,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRK has been the subject of a number of research analyst reports. Truist Financial increased their target price on Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday, September 30th. Bank of America initiated coverage on Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target for the company. Mizuho decreased their price objective on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Piper Sandler lowered shares of Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $8.00 to $5.00 in a report on Thursday, August 15th. Finally, BMO Capital Markets increased 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 report on Friday, October 4th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.31.

Comstock Resources Stock Up 2.2 %

NYSE:CRK opened at $15.50 on Tuesday. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $15.84. The stock’s fifty day moving average is $12.07 and its two-hundred day moving average is $11.09. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -86.67 and a beta of 0.47. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25.

Comstock Resources (NYSE:CRK) last released its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the firm earned $0.04 earnings per share. Research analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current 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.