Sapient Capital LLC Acquires Shares of 22,684 Comstock Resources, Inc. (NYSE:CRK)

Sapient Capital LLC acquired a new stake in Comstock Resources, Inc. (NYSE:CRK) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 22,684 shares of the oil and gas producer’s stock, valued at approximately $201,000.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Comstock Resources during the first quarter worth $310,000. Citigroup Inc. raised its position in shares of Comstock Resources by 21.2% during the first quarter. Citigroup Inc. now owns 240,161 shares of the oil and gas producer’s stock worth $3,134,000 after acquiring an additional 42,001 shares during the last quarter. Bank of Montreal Can raised its position in shares of Comstock Resources by 14.8% during the first quarter. Bank of Montreal Can now owns 15,258 shares of the oil and gas producer’s stock worth $201,000 after acquiring an additional 1,965 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Comstock Resources by 58.5% during the first quarter. MetLife Investment Management LLC now owns 54,147 shares of the oil and gas producer’s stock worth $707,000 after acquiring an additional 19,984 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Comstock Resources by 12.5% during the first quarter. BlackRock Inc. now owns 7,076,353 shares of the oil and gas producer’s stock worth $92,347,000 after acquiring an additional 786,726 shares during the last quarter. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Down 2.9 %

NYSE:CRK opened at $9.28 on Tuesday. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $13.39. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 12.21 and a beta of 0.70. The stock has a 50-day moving average price of $8.43 and a two-hundred day moving average price of $9.51.

Comstock Resources (NYSE:CRK) last posted its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The business had revenue of $410.58 million during the quarter, compared to analyst estimates of $401.97 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue was down 55.5% on a year-over-year basis. As a group, equities analysts expect that Comstock Resources, Inc. will post 0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CRK shares. Truist Financial dropped their target price on Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, February 13th. Stifel Nicolaus decreased their price objective on Comstock Resources from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Mizuho decreased their price objective on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a research note on Monday. Piper Sandler decreased their price objective on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Finally, Siebert Williams Shank initiated coverage on Comstock Resources in a research note on Tuesday, December 19th. They set a “hold” rating and a $10.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.00.

Insider Buying and Selling at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of Comstock Resources stock in a transaction dated Monday, March 25th. The stock was bought at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the completion of the transaction, the insider now directly owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

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.