Amalgamated Bank Reduces Holdings in Comstock Resources, Inc. (NYSE:CRK)

Amalgamated Bank decreased its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 6.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,857 shares of the oil and gas producer’s stock after selling 1,983 shares during the period. Amalgamated Bank’s holdings in Comstock Resources were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CRK. Harbor Capital Advisors Inc. bought a new position in Comstock Resources during the 3rd quarter valued at about $25,000. Blue Trust Inc. bought a new position in shares of Comstock Resources during the second quarter valued at approximately $32,000. EverSource Wealth Advisors LLC grew its stake in shares of Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 3,446 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 buying an additional 1,312 shares during the period. Finally, Payden & Rygel Investment Group bought a new stake in shares of Comstock Resources during the 1st quarter worth approximately $99,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insider Buying and Selling at Comstock Resources

In other news, major shareholder Drilling L.P. Arkoma purchased 1,044,200 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were acquired at an average cost of $10.96 per share, with a total value of $11,444,432.00. Following the completion of the acquisition, the insider now owns 206,583,546 shares of the company’s stock, valued at $2,264,155,664.16. This trade represents a 0.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders bought 2,680,646 shares of company stock valued at $29,692,057. 2.00% of the stock is currently owned by insiders.

Comstock Resources Stock Down 0.1 %

Comstock Resources stock opened at $13.37 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a market cap of $3.91 billion, a P/E ratio of -74.27 and a beta of 0.47. The business has a fifty day moving average of $11.57 and a two-hundred day moving average of $10.93. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $14.28.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company had revenue of $304.50 million for the quarter, compared to analysts’ expectations of $308.75 million. During the same quarter last year, the company earned $0.04 earnings per share. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, analysts forecast that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRK. BMO Capital Markets increased their target price on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Piper Sandler downgraded shares of Comstock Resources from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $8.00 to $5.00 in a research note on Thursday, August 15th. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a report on Tuesday, October 15th. Bank of America initiated coverage on shares of Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Truist Financial lifted their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.31.

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.