Comstock Resources, Inc. (NYSE:CRK) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its holdings in shares of Comstock Resources, Inc. (NYSE:CRKGet Rating) by 16.8% in the second quarter, HoldingsChannel.com reports. The fund owned 11,641 shares of the oil and gas producer’s stock after selling 2,347 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Comstock Resources were worth $141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Moody National Bank Trust Division grew its holdings in shares of Comstock Resources by 5.0% during the second quarter. Moody National Bank Trust Division now owns 105,000 shares of the oil and gas producer’s stock worth $1,268,000 after buying an additional 5,000 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Comstock Resources by 382.2% during the first quarter. Bank of America Corp DE now owns 875,337 shares of the oil and gas producer’s stock worth $11,423,000 after buying an additional 693,790 shares in the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Comstock Resources during the first quarter worth about $312,000. Lido Advisors LLC purchased a new stake in shares of Comstock Resources during the first quarter worth about $131,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Comstock Resources during the first quarter worth about $373,000. 34.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRK. Stifel Nicolaus lifted their price target on shares of Comstock Resources from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 12th. TheStreet upgraded shares of Comstock Resources from a “c” rating to a “b-” rating in a report on Monday, August 1st. Mizuho lowered their target price on shares of Comstock Resources from $23.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. KeyCorp began coverage on shares of Comstock Resources in a report on Monday. They issued an “overweight” rating and a $26.00 target price for the company. Finally, MKM Partners restated a “neutral” rating and issued a $11.50 target price on shares of Comstock Resources in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Comstock Resources currently has an average rating of “Hold” and an average price target of $19.88.

Comstock Resources Price Performance

CRK opened at $18.60 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.97. Comstock Resources, Inc. has a 52-week low of $6.88 and a 52-week high of $22.11. The company has a 50 day moving average of $17.30 and a two-hundred day moving average of $15.72. The company has a market cap of $4.34 billion, a P/E ratio of 20.67 and a beta of 1.32.

Comstock Resources (NYSE:CRKGet Rating) last released its quarterly earnings data on Monday, August 1st. The oil and gas producer reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. Comstock Resources had a net margin of 12.80% and a return on equity of 63.77%. The company had revenue of $946.25 million during the quarter, compared to the consensus estimate of $627.80 million. During the same period in the previous year, the firm earned $0.22 earnings per share. Comstock Resources’s revenue for the quarter was up 175.3% on a year-over-year basis. On average, analysts expect that Comstock Resources, Inc. will post 3.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jim L. Turner bought 50,000 shares of Comstock Resources stock in a transaction dated Thursday, September 8th. The shares were acquired at an average cost of $18.34 per share, with a total value of $917,000.00. Following the completion of the transaction, the director now owns 265,805 shares in the company, valued at approximately $4,874,863.70. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Jim L. Turner bought 50,000 shares of Comstock Resources stock in a transaction dated Thursday, September 8th. The shares were acquired at an average cost of $18.34 per share, with a total value of $917,000.00. Following the completion of the transaction, the director now owns 265,805 shares in the company, valued at approximately $4,874,863.70. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Patrick Mcgough bought 28,800 shares of Comstock Resources stock in a transaction dated Monday, August 8th. The shares were purchased at an average cost of $14.86 per share, for a total transaction of $427,968.00. Following the completion of the transaction, the vice president now owns 92,190 shares of the company’s stock, valued at approximately $1,369,943.40. The disclosure for this purchase can be found here. Insiders acquired a total of 142,800 shares of company stock worth $2,574,208 over the last ninety days. 1.20% of the stock is owned by company insiders.

Comstock Resources Company Profile

(Get Rating)

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves.

Further Reading

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Institutional Ownership by Quarter for Comstock Resources (NYSE:CRK)

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