Comstock Resources, Inc. (NYSE:CRK) Shares Sold by AlphaQuest LLC

AlphaQuest LLC decreased its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 88.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,371 shares of the oil and gas producer’s stock after selling 24,816 shares during the period. AlphaQuest LLC’s holdings in Comstock Resources were worth $61,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRK. Empowered Funds LLC increased its position in Comstock Resources by 8.7% during the third quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer’s stock worth $351,000 after purchasing an additional 2,534 shares during the last quarter. Quest Partners LLC increased its position in shares of Comstock Resources by 2,818,600.0% in the third quarter. Quest Partners LLC now owns 28,187 shares of the oil and gas producer’s stock worth $314,000 after acquiring an additional 28,186 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Comstock Resources in the third quarter worth $419,000. Charles Schwab Investment Management Inc. increased its position in shares of Comstock Resources by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock worth $15,736,000 after acquiring an additional 57,376 shares in the last quarter. Finally, FMR LLC increased its position in shares of Comstock Resources by 266.2% in the third quarter. FMR LLC now owns 25,415 shares of the oil and gas producer’s stock worth $283,000 after acquiring an additional 18,475 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Trading Up 3.0 %

NYSE CRK opened at $19.94 on Thursday. Comstock Resources, Inc. has a 12 month low of $7.74 and a 12 month high of $22.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of -26.24, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The company’s fifty day moving average price is $19.09 and its two-hundred day moving average price is $15.36.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 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 for the quarter, compared to the consensus estimate of $370.62 million. As a group, research analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Comstock Resources

In related news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $16.98, for a total transaction of $169,800.00. Following the completion of the sale, the director now owns 107,632 shares of the company’s stock, valued at $1,827,591.36. This represents a 8.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 28,000 shares of company stock worth $478,460 in the last ninety days. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CRK has been the subject of several recent research reports. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Truist Financial increased their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Thursday, February 20th. Morgan Stanley initiated coverage on shares of Comstock Resources in a research report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price objective for the company. Finally, Williams Trading set a $13.00 price objective on shares of Comstock Resources in a research report on Wednesday, March 5th. 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’s stock. According to data from MarketBeat, Comstock Resources currently has a consensus rating of “Hold” and an average price target of $13.36.

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.