nVerses Capital LLC Purchases New Stake in Comstock Resources, Inc. (NYSE:CRK)

nVerses Capital LLC acquired a new position in shares of Comstock Resources, Inc. (NYSE:CRK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,300 shares of the oil and gas producer’s stock, valued at approximately $215,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Comstock Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer’s stock worth $95,838,000 after acquiring an additional 34,231 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Comstock Resources by 428.9% during the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 3,869 shares during the last quarter. Ballentine Partners LLC bought a new stake in Comstock Resources during the first quarter worth $138,000. Doliver Advisors LP raised its position in Comstock Resources by 14.2% in the 1st quarter. Doliver Advisors LP now owns 26,416 shares of the oil and gas producer’s stock valued at $245,000 after buying an additional 3,290 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in 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 valued at $46,000 after acquiring an additional 4,711 shares in the last quarter. 36.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Siebert Williams Shank lowered 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. KeyCorp began coverage on shares of Comstock Resources in a research note on Thursday, June 27th. They issued a “sector weight” rating for the company. Mizuho cut their target price on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a research note on Monday, September 16th. Piper Sandler downgraded Comstock Resources from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $8.00 to $5.00 in a research report on Thursday, August 15th. Finally, Truist Financial lifted their price target on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.79.

Comstock Resources Stock Down 1.3 %

CRK stock opened at $11.46 on Friday. The stock has a fifty day moving average of $10.82 and a 200-day moving average of $10.52. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $13.39. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 52.09 and a beta of 0.47. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.59.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The business had revenue of $246.80 million for the quarter, compared to the consensus estimate of $296.02 million. The company’s revenue was down 14.4% compared to the same quarter last year. As a group, equities research analysts predict that Comstock Resources, Inc. will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 825,868 shares of the stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $8.82 per share, with a total value of $7,284,155.76. Following the acquisition, the insider now directly owns 197,298,165 shares of the company’s stock, valued at $1,740,169,815.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Drilling L.P. Arkoma purchased 981,898 shares of the stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $10.13 per share, with a total value of $9,946,626.74. Following the completion of the acquisition, the insider now owns 199,931,799 shares in the company, valued at $2,025,309,123.87. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Star Exploration Corp Blue acquired 825,868 shares of Comstock Resources stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $8.82 per share, with a total value of $7,284,155.76. Following the purchase, the insider now owns 197,298,165 shares of the company’s stock, valued at $1,740,169,815.30. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 6,712,733 shares of company stock valued at $67,816,851. Company insiders own 1.50% of the company’s stock.

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.