Pullen Investment Management LLC Boosts Stake in Comstock Resources, Inc. (NYSE:CRK)

Pullen Investment Management LLC lifted its stake in Comstock Resources, Inc. (NYSE:CRK) by 16.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 60,045 shares of the oil and gas producer’s stock after acquiring an additional 8,312 shares during the period. Pullen Investment Management LLC’s holdings in Comstock Resources were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Blue Trust Inc. bought a new position in shares of Comstock Resources during the 2nd quarter valued at about $32,000. EverSource Wealth Advisors LLC raised its stake in Comstock Resources by 2,533.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 3,446 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Comstock Resources by 2,161.0% in the first quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 4,711 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 worth $63,000 after purchasing an additional 1,312 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Comstock Resources in the first quarter worth $91,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Analysts Set New Price Targets

CRK has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday, September 30th. BMO Capital Markets upped their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Mizuho cut their price objective on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Wolfe Research started coverage on shares of Comstock Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Siebert Williams Shank cut shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Comstock Resources has an average rating of “Hold” and an average price target of $9.79.

Insider Activity at Comstock Resources

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma purchased 592,246 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was bought at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the acquisition, the insider now directly owns 208,219,992 shares of the company’s stock, valued at approximately $2,402,858,707.68. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Comstock Resources news, major shareholder Drilling L.P. Arkoma purchased 592,246 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was bought at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the acquisition, the insider now directly owns 208,219,992 shares of the company’s stock, valued at approximately $2,402,858,707.68. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Star Exploration Corp Blue bought 825,868 shares of Comstock Resources stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $8.82 per share, with a total value of $7,284,155.76. Following the completion of the acquisition, the insider now directly owns 197,298,165 shares in the company, valued at approximately $1,740,169,815.30. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 6,712,733 shares of company stock worth $67,816,851. Company insiders own 1.50% of the company’s stock.

Comstock Resources Trading Down 0.1 %

Shares of NYSE CRK opened at $12.00 on Friday. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $13.39. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The stock has a fifty day simple moving average of $10.95 and a 200-day simple moving average of $10.61. The stock has a market capitalization of $3.51 billion, a PE ratio of 54.55 and a beta of 0.47.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The company had revenue of $246.80 million during the quarter, compared to analysts’ expectations of $296.02 million. Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The company’s revenue was down 14.4% compared to the same quarter last year. On average, equities 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.