Empowered Funds LLC Purchases 2,534 Shares of Comstock Resources, Inc. (NYSE:CRK)

Empowered Funds LLC boosted its position in Comstock Resources, Inc. (NYSE:CRK) by 8.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,536 shares of the oil and gas producer’s stock after purchasing an additional 2,534 shares during the period. Empowered Funds LLC’s holdings in Comstock Resources were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Royce & Associates LP grew its stake in Comstock Resources by 79.2% in the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock worth $7,677,000 after acquiring an additional 304,780 shares in the last quarter. Keynote Financial Services LLC purchased a new position in Comstock Resources during the 1st quarter worth $930,000. Goehring & Rozencwajg Associates LLC raised its position in Comstock Resources by 27.8% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer’s stock valued at $7,095,000 after purchasing an additional 148,700 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of Comstock Resources in the 2nd quarter worth $6,544,000. Finally, Parametrica Management Ltd bought a new position in shares of Comstock Resources during the 3rd quarter worth $661,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CRK shares. Bank of America started coverage on Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective for the company. Mizuho lowered their price target on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research note on Tuesday, October 15th. Truist Financial boosted their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, Piper Sandler cut Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $8.00 to $5.00 in a research report on Thursday, August 15th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.31.

Comstock Resources Trading Up 2.2 %

NYSE CRK opened at $15.50 on Tuesday. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $15.84. The company has a fifty day simple moving average of $12.07 and a two-hundred day simple moving average of $11.09. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The stock has a market cap of $4.53 billion, a P/E ratio of -86.67 and a beta of 0.47.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS 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 firm had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. During the same period in the prior year, the firm posted $0.04 EPS. The business’s revenue 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 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.