KBC Group NV Grows Stock Position in Comstock Resources, Inc. (NYSE:CRK)

KBC Group NV raised its position in Comstock Resources, Inc. (NYSE:CRK) by 46.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,480 shares of the oil and gas producer’s stock after buying an additional 2,066 shares during the quarter. KBC Group NV’s holdings in Comstock Resources were worth $118,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in Comstock Resources by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock valued at $601,000 after acquiring an additional 1,656 shares during the period. Algert Global LLC bought a new stake in Comstock Resources during the 2nd quarter worth approximately $107,000. SG Americas Securities LLC increased its holdings in Comstock Resources by 269.4% during the 3rd quarter. SG Americas Securities LLC now owns 55,044 shares of the oil and gas producer’s stock worth $613,000 after acquiring an additional 40,142 shares during the period. nVerses Capital LLC purchased a new stake in Comstock Resources in the 3rd quarter worth approximately $215,000. Finally, Blue Trust Inc. boosted its holdings in Comstock Resources by 116.3% in the 3rd 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 during the period. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insider Buying and Selling at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the sale, the director now directly owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. This represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 38,000 shares of company stock valued at $634,660. 2.00% of the stock is currently owned by corporate insiders.

Comstock Resources Stock Down 1.8 %

Shares of Comstock Resources stock opened at $17.30 on Friday. The company’s fifty day simple moving average is $18.00 and its two-hundred day simple moving average is $13.67. The company has a market cap of $5.06 billion, a P/E ratio of -96.10, a PEG ratio of 1.52 and a beta of 0.48. 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, Inc. has a 12-month low of $7.07 and a 12-month high of $22.06.

Analyst Upgrades and Downgrades

CRK has been the topic of several recent analyst reports. Morgan Stanley started coverage on Comstock Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price target on the stock. Piper Sandler lifted their price target on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Citigroup raised their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a research note on Tuesday, October 15th. Finally, Truist Financial lifted their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.40.

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.