Empowered Funds LLC Sells 5,071 Shares of Comstock Resources, Inc. (NYSE:CRK)

Empowered Funds LLC trimmed its holdings in Comstock Resources, Inc. (NYSE:CRK) by 16.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,465 shares of the oil and gas producer’s stock after selling 5,071 shares during the period. Empowered Funds LLC’s holdings in Comstock Resources were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CRK. Royce & Associates LP raised its holdings 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 valued at $7,677,000 after acquiring an additional 304,780 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Comstock Resources in the third quarter worth $1,263,000. Barclays PLC raised its stake in Comstock Resources by 256.3% in the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after purchasing an additional 111,934 shares in the last quarter. Verition Fund Management LLC lifted its position in Comstock Resources by 267.8% during the third quarter. Verition Fund Management LLC now owns 141,143 shares of the oil and gas producer’s stock worth $1,571,000 after purchasing an additional 102,767 shares during the period. Finally, Parametrica Management Ltd acquired a new stake in Comstock Resources during the third quarter worth about $661,000. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Stock Up 9.3 %

CRK opened at $20.71 on Thursday. Comstock Resources, Inc. has a fifty-two week low of $7.46 and a fifty-two week high of $22.06. The firm has a market capitalization of $6.05 billion, a P/E ratio of -115.04, a PEG ratio of 1.52 and a beta of 0.48. The company’s 50-day moving average is $18.60 and its 200 day moving average is $14.24. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60.

Comstock Resources (NYSE:CRK) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. The firm had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. Research analysts expect that Comstock Resources, Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRK has been the topic of several research reports. Citigroup lifted their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Morgan Stanley assumed coverage on Comstock Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price target for the company. Bank of America started coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Truist Financial upped their target price on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.40.

Insider Buying and Selling

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

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.