EverSource Wealth Advisors LLC Has $34,000 Stock Position in Comstock Resources, Inc. (NYSE:CRK)

EverSource Wealth Advisors LLC raised its holdings in Comstock Resources, Inc. (NYSE:CRK) by 2,533.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,582 shares of the oil and gas producer’s stock after buying an additional 3,446 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Comstock Resources were worth $34,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new stake in Comstock Resources in the 2nd quarter valued at approximately $32,000. GAMMA Investing LLC grew its holdings in shares of Comstock Resources by 428.9% during the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Comstock Resources by 2,161.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 4,711 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Comstock Resources during the first quarter valued at approximately $91,000. Finally, Payden & Rygel Investment Group acquired a new position in shares of Comstock Resources in the first quarter valued at $99,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Trading Up 1.6 %

Shares of Comstock Resources stock opened at $11.10 on Friday. The stock has a market capitalization of $3.24 billion, a P/E ratio of 50.45 and a beta of 0.48. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The company has a 50-day simple moving average of $10.19 and a 200 day simple moving average of $10.19. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $13.39.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The firm had revenue of $246.80 million for the quarter, compared to analyst estimates of $296.02 million. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The company’s quarterly revenue was down 14.4% on a year-over-year basis. Research analysts expect that Comstock Resources, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on CRK. KeyCorp initiated coverage on shares of Comstock Resources in a report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Piper Sandler cut shares of Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Mizuho dropped their price objective on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. Wolfe Research initiated coverage on shares of Comstock Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Truist Financial increased their price objective on shares of Comstock Resources from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Comstock Resources currently has a consensus rating of “Hold” and a consensus price target of $9.58.

Insider Buying and Selling

In other news, major shareholder Star Exploration Corp Blue bought 825,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $8.16 per share, for a total transaction of $6,732,000.00. Following the transaction, the insider now directly owns 195,646,429 shares of the company’s stock, valued at approximately $1,596,474,860.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Star Exploration Corp Blue acquired 825,000 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $8.16 per share, for a total transaction of $6,732,000.00. Following the transaction, the insider now owns 195,646,429 shares of the company’s stock, valued at approximately $1,596,474,860.64. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Drilling L.P. Arkoma acquired 981,898 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $10.13 per share, with a total value of $9,946,626.74. Following the transaction, the insider now directly owns 199,931,799 shares in the company, valued at approximately $2,025,309,123.87. The disclosure for this purchase can be found here. Insiders bought 6,712,733 shares of company stock worth $67,816,851 in the last quarter. 1.50% of the stock is owned by corporate 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.