Doliver Advisors LP Raises Position in Comstock Resources, Inc. (NYSE:CRK)

Doliver Advisors LP increased its holdings in Comstock Resources, Inc. (NYSE:CRK) by 3.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 26,455 shares of the oil and gas producer’s stock after acquiring an additional 988 shares during the quarter. Doliver Advisors LP’s holdings in Comstock Resources were worth $294,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. ProShare Advisors LLC increased its stake in Comstock Resources by 7.4% in the first quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock valued at $172,000 after acquiring an additional 1,276 shares during the last quarter. GAMMA Investing LLC increased its stake in Comstock Resources by 27.5% in the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,312 shares during the last quarter. XTX Topco Ltd increased its stake in Comstock Resources by 4.8% in the second quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock valued at $299,000 after acquiring an additional 1,330 shares during the last quarter. Simplicity Wealth LLC increased its stake in Comstock Resources by 5.7% in the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock valued at $296,000 after acquiring an additional 1,552 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Comstock Resources by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock valued at $601,000 after acquiring an additional 1,656 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Drilling L.P. Arkoma acquired 573,453 shares of the stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $10.64 per share, for a total transaction of $6,101,539.92. Following the completion of the acquisition, the insider now directly owns 203,450,946 shares of the company’s stock, valued at approximately $2,164,718,065.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 825,000 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $8.16 per share, for a total transaction of $6,732,000.00. Following the completion of the acquisition, the insider now owns 195,646,429 shares of the company’s stock, valued at $1,596,474,860.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Drilling L.P. Arkoma bought 573,453 shares of the stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $10.64 per share, with a total value of $6,101,539.92. Following the completion of the acquisition, the insider now directly owns 203,450,946 shares of the company’s stock, valued at approximately $2,164,718,065.44. The disclosure for this purchase can be found here. Insiders purchased 6,712,733 shares of company stock worth $67,816,851 over the last three months. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

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

Comstock Resources Stock Up 1.5 %

NYSE CRK opened at $11.33 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $3.31 billion, a PE ratio of 51.48 and a beta of 0.48. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $13.39. The business’s 50-day moving average is $10.21 and its 200 day moving average is $10.26.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) EPS for the quarter, missing the consensus estimate 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 company had revenue of $246.80 million during the quarter, compared to analysts’ expectations of $296.02 million. The business’s revenue was down 14.4% compared to the same quarter last year. Sell-side analysts forecast that Comstock Resources, Inc. will post -0.37 earnings per share for the current year.

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.