Comstock Resources, Inc. (NYSE:CRK) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC reduced its holdings in Comstock Resources, Inc. (NYSE:CRK) by 10.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,491 shares of the oil and gas producer’s stock after selling 3,088 shares during the period. Bleakley Financial Group LLC’s holdings in Comstock Resources were worth $284,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Doliver Advisors LP boosted its stake in shares of Comstock Resources by 3.9% in the third quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock worth $294,000 after acquiring an additional 988 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Comstock Resources by 7.4% in the first quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock worth $172,000 after acquiring an additional 1,276 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 acquiring an additional 1,312 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Comstock Resources by 4.8% in the second quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock worth $299,000 after acquiring an additional 1,330 shares during the last quarter. Finally, Simplicity Wealth LLC boosted its stake in shares of Comstock Resources by 5.7% in the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock worth $296,000 after acquiring an additional 1,552 shares during the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Price Performance

NYSE:CRK opened at $11.59 on Thursday. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $13.39. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $3.39 billion, a P/E ratio of 52.66 and a beta of 0.47. The stock’s fifty day moving average is $10.89 and its two-hundred day moving average is $10.58.

Comstock Resources (NYSE:CRK) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The business 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 business’s quarterly revenue was down 14.4% compared to the same quarter last year. Equities analysts expect that Comstock Resources, Inc. will post -0.37 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Drilling L.P. Arkoma bought 592,246 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $11.54 per share, with a total value of $6,834,518.84. Following the purchase, the insider now owns 208,219,992 shares in the company, valued at approximately $2,402,858,707.68. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Drilling L.P. Arkoma bought 592,246 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $11.54 per share, with a total value of $6,834,518.84. Following the purchase, the insider now owns 208,219,992 shares in the company, valued at approximately $2,402,858,707.68. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Star Exploration Corp Blue bought 825,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $8.16 per share, for a total transaction of $6,732,000.00. Following the purchase, the insider now owns 195,646,429 shares in the company, valued at $1,596,474,860.64. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 6,712,733 shares of company stock valued at $67,816,851. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRK shares. Piper Sandler lowered Comstock Resources from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $8.00 to $5.00 in a research note on Thursday, August 15th. Wolfe Research began coverage on Comstock Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research report on Tuesday, October 15th. BMO Capital Markets lifted their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Finally, KeyCorp began coverage on Comstock Resources in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.79.

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.