Dana Investment Advisors Inc. Sells 9,152 Shares of Comstock Resources, Inc. (NYSE:CRK)

Dana Investment Advisors Inc. trimmed its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 681,332 shares of the oil and gas producer’s stock after selling 9,152 shares during the period. Dana Investment Advisors Inc.’s holdings in Comstock Resources were worth $7,072,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CRK. Foundry Partners LLC boosted its stake in Comstock Resources by 11.8% in the 1st quarter. Foundry Partners LLC now owns 469,512 shares of the oil and gas producer’s stock worth $4,357,000 after purchasing an additional 49,626 shares during the period. Sanders Morris Harris LLC purchased a new position in shares of Comstock Resources in the first quarter worth $1,717,000. Kovack Advisors Inc. bought a new position in shares of Comstock Resources during the first quarter worth $1,058,000. Seven Eight Capital LP purchased a new position in Comstock Resources during the first quarter valued at $813,000. Finally, Keynote Financial Services LLC bought a new stake in Comstock Resources in the 1st quarter valued at $930,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRK shares. Truist Financial increased their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday. KeyCorp started coverage on Comstock Resources in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. Mizuho reduced their price objective 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. Wolfe Research assumed coverage on Comstock Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Piper Sandler cut shares of Comstock Resources from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $8.00 to $5.00 in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.75.

Comstock Resources Price Performance

Shares of Comstock Resources stock opened at $11.17 on Wednesday. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 50.75 and a beta of 0.48. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a 50 day moving average price of $10.20 and a 200-day moving average price of $10.24. Comstock Resources, Inc. has a one year low of $7.07 and a one year high of $13.39.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data 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). The firm had revenue of $246.80 million for the quarter, compared to the consensus estimate of $296.02 million. Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. Equities analysts expect that Comstock Resources, Inc. will post -0.37 EPS for the current year.

Insider Activity at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue acquired 825,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the purchase, the insider now directly owns 195,646,429 shares in the company, valued at $1,596,474,860.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Drilling L.P. Arkoma bought 825,868 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $9.76 per share, with a total value of $8,060,471.68. Following the completion of the purchase, the insider now owns 198,949,901 shares of the company’s stock, valued at $1,941,751,033.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Star Exploration Corp Blue purchased 825,000 shares of Comstock Resources stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $8.16 per share, for a total transaction of $6,732,000.00. Following the purchase, the insider now directly owns 195,646,429 shares in the company, valued at $1,596,474,860.64. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 6,712,733 shares of company stock worth $67,816,851. Insiders own 1.50% of the company’s stock.

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.