Comstock Resources, Inc. (NYSE:CRK) Shares Purchased by Sfmg LLC

Sfmg LLC lifted its position in Comstock Resources, Inc. (NYSE:CRK) by 33.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,785 shares of the oil and gas producer’s stock after purchasing an additional 6,785 shares during the period. Sfmg LLC’s holdings in Comstock Resources were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CRK. Sunbelt Securities Inc. lifted its stake in shares of Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,400 shares during the period. VSM Wealth Advisory LLC acquired a new position in shares of Comstock Resources in the 4th quarter valued at $27,000. Smartleaf Asset Management LLC lifted its stake in shares of Comstock Resources by 225.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 2,326 shares during the period. KBC Group NV lifted its stake in shares of Comstock Resources by 46.8% in the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 2,066 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Comstock Resources during the third quarter worth $169,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Trading Up 0.5 %

Shares of CRK opened at $19.95 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. Comstock Resources, Inc. has a 12-month low of $7.74 and a 12-month high of $22.06. The firm has a 50-day moving average price of $19.11 and a 200 day moving average price of $15.49. The firm has a market capitalization of $5.84 billion, a P/E ratio of -26.24, a P/E/G ratio of 1.65 and a beta of 0.55.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The firm had revenue of $366.51 million during the quarter, compared to analyst estimates of $370.62 million. Sell-side analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CRK shares. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a research report on Wednesday, March 5th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Citigroup upped their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Piper Sandler upped their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley began 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. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.36.

Insiders Place Their Bets

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the transaction, the director now owns 123,781 shares of the company’s stock, valued at $2,021,343.73. This trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 28,000 shares of company stock valued at $478,460 over the last 90 days. 2.00% of the stock is owned by company insiders.

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.