JPMorgan Chase & Co. Purchases 13,998 Shares of Comstock Resources, Inc. (NYSE:CRK)

JPMorgan Chase & Co. raised its position in Comstock Resources, Inc. (NYSE:CRK) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 170,338 shares of the oil and gas producer’s stock after purchasing an additional 13,998 shares during the period. JPMorgan Chase & Co. owned approximately 0.06% of Comstock Resources worth $1,896,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in Comstock Resources in the third quarter valued at approximately $25,000. Sunbelt Securities Inc. increased its stake in Comstock Resources by 140.0% in the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,400 shares in the last quarter. EverSource Wealth Advisors LLC increased 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 valued at $34,000 after purchasing an additional 3,446 shares in the last quarter. Blue Trust Inc. increased its stake in Comstock Resources by 116.3% in the third quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 3,611 shares in the last quarter. Finally, Algert Global LLC bought a new stake in Comstock Resources in the second quarter valued at approximately $107,000. Institutional investors own 36.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRK. Bank of America began coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price objective for the company. Citigroup increased their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Truist Financial increased their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. BMO Capital Markets increased their price objective 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. Finally, Morgan Stanley began coverage on shares of Comstock Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.30.

Comstock Resources Stock Up 1.2 %

Comstock Resources stock opened at $21.23 on Thursday. The company has a market cap of $6.20 billion, a P/E ratio of -117.94, a price-to-earnings-growth ratio of 2.53 and a beta of 0.51. Comstock Resources, Inc. has a 1-year low of $7.07 and a 1-year high of $22.06. The company has a fifty day simple moving average of $17.05 and a 200 day simple moving average of $13.03. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25.

Comstock Resources (NYSE:CRK) last released its earnings results 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). The business had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. Research analysts anticipate that Comstock Resources, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $16.33, for a total value of $163,300.00. Following the completion of the transaction, the director now owns 123,781 shares of the company’s stock, valued at $2,021,343.73. This trade represents a 7.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 38,000 shares of company stock valued at $634,660 in the last quarter. Company insiders own 2.00% of the company’s stock.

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.