Foundry Partners LLC Sells 104,155 Shares of Comstock Resources, Inc. (NYSE:CRK)

Foundry Partners LLC trimmed its position in Comstock Resources, Inc. (NYSE:CRK) by 19.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 419,886 shares of the oil and gas producer’s stock after selling 104,155 shares during the quarter. Foundry Partners LLC’s holdings in Comstock Resources were worth $3,716,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Comstock Resources in the 3rd quarter valued at about $569,000. Exchange Traded Concepts LLC purchased a new position in shares of Comstock Resources during the third quarter valued at approximately $676,000. Hennessy Advisors Inc. grew its stake in shares of Comstock Resources by 67.5% during the third quarter. Hennessy Advisors Inc. now owns 67,000 shares of the oil and gas producer’s stock valued at $739,000 after buying an additional 27,000 shares during the last quarter. Steward Financial Group LLC raised its holdings in shares of Comstock Resources by 86.9% in the third quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock worth $74,000 after buying an additional 3,151 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Comstock Resources by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,295,391 shares of the oil and gas producer’s stock worth $36,348,000 after acquiring an additional 41,260 shares during the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRK. The Goldman Sachs Group upped their price objective on Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 2nd. Piper Sandler cut their price target on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th. Pickering Energy Partners raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Truist Financial dropped their target price on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, February 13th. Finally, Mizuho decreased their price target on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.67.

Insider Transactions at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the transaction, the insider now directly owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Comstock Resources Trading Up 2.4 %

Shares of NYSE:CRK opened at $9.75 on Tuesday. The company has a market capitalization of $2.71 billion, a PE ratio of 12.83 and a beta of 0.70. The business’s fifty day simple moving average is $8.58 and its 200-day simple moving average is $9.48. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month 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.

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