Dana Investment Advisors Inc. Trims Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Dana Investment Advisors Inc. trimmed its stake in Comstock Resources, Inc. (NYSE:CRK) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 681,332 shares of the oil and gas producer’s stock after selling 9,152 shares during the period. Dana Investment Advisors Inc. owned 0.23% of Comstock Resources worth $7,072,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. bought a new stake in shares of Comstock Resources during the second quarter valued at approximately $32,000. EverSource Wealth Advisors LLC grew its position in shares of Comstock Resources by 2,533.8% in the 2nd 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 during the period. GAMMA Investing LLC grew its position in shares of Comstock Resources by 428.9% in the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 3,869 shares during the period. Hexagon Capital Partners LLC lifted its position in Comstock Resources by 2,161.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 4,711 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Comstock Resources during the first quarter worth about $91,000. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $11.17 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 50.75 and a beta of 0.48. The business has a 50-day simple moving average of $10.20 and a two-hundred day simple moving average of $10.24. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $13.39.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The company had revenue of $246.80 million for the quarter, compared to the consensus estimate of $296.02 million. Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, analysts expect that Comstock Resources, Inc. will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Drilling L.P. Arkoma bought 573,453 shares of the stock in a transaction on Friday, August 16th. The shares were bought at an average price of $10.64 per share, with a total value of $6,101,539.92. Following the completion of the acquisition, the insider now owns 203,450,946 shares in the company, valued at $2,164,718,065.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Comstock Resources news, major shareholder Star Exploration Corp Blue acquired 825,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the transaction, the insider now directly owns 195,646,429 shares in the company, valued at approximately $1,596,474,860.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Drilling L.P. Arkoma bought 573,453 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $10.64 per share, for a total transaction of $6,101,539.92. Following the completion of the acquisition, the insider now owns 203,450,946 shares in the company, valued at approximately $2,164,718,065.44. The disclosure for this purchase can be found here. Insiders bought 6,712,733 shares of company stock valued at $67,816,851 over the last 90 days. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. KeyCorp initiated coverage on shares of Comstock Resources in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. Piper Sandler downgraded Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $8.00 to $5.00 in a report on Thursday, August 15th. Wolfe Research assumed coverage on Comstock Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Mizuho lowered their price target on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial increased their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.75.

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.