Quest Partners LLC Raises Stake in Comstock Resources, Inc. (NYSE:CRK)

Quest Partners LLC boosted its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 2,818,600.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,187 shares of the oil and gas producer’s stock after acquiring an additional 28,186 shares during the period. Quest Partners LLC’s holdings in Comstock Resources were worth $314,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in Comstock Resources during the 3rd quarter valued at about $25,000. Blue Trust Inc. bought a new stake in Comstock Resources during the 2nd quarter valued at about $32,000. EverSource Wealth Advisors LLC increased its stake in Comstock Resources by 2,533.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 3,446 shares in the last quarter. GAMMA Investing LLC increased its stake in Comstock Resources by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock valued at $63,000 after purchasing an additional 1,312 shares in the last quarter. Finally, Choreo LLC bought a new stake in Comstock Resources during the 2nd quarter valued at about $105,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Up 2.2 %

NYSE:CRK opened at $15.50 on Tuesday. Comstock Resources, Inc. has a 1-year low of $7.07 and a 1-year high of $15.84. The company has a 50-day moving average of $12.07 and a 200 day moving average of $11.09. The firm has a market cap of $4.53 billion, a PE ratio of -86.11 and a beta of 0.47. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The firm had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. During the same quarter last year, the business earned $0.04 earnings per share. Comstock Resources’s revenue was down 19.2% on a year-over-year basis. As a group, research analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRK has been the subject of a number of analyst reports. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a research note on Tuesday, October 15th. Truist Financial lifted their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Bank of America assumed coverage on shares of Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 price target for the company. Mizuho reduced their price target 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. Finally, Piper Sandler lowered 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 note on Thursday, August 15th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.31.

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.