Farther Finance Advisors LLC Sells 907 Shares of Comstock Resources, Inc. (NYSE:CRK)

Farther Finance Advisors LLC reduced its stake in Comstock Resources, Inc. (NYSE:CRK) by 14.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,460 shares of the oil and gas producer’s stock after selling 907 shares during the period. Farther Finance Advisors LLC’s holdings in Comstock Resources were worth $61,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. KGH Ltd grew its holdings in shares of Comstock Resources by 8.7% during the second quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock valued at $125,858,000 after buying an additional 975,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Comstock Resources by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock valued at $121,414,000 after purchasing an additional 2,438,252 shares during the period. American Century Companies Inc. raised its position in shares of Comstock Resources by 19.0% in the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock valued at $23,567,000 after purchasing an additional 362,043 shares during the period. Millennium Management LLC raised its position in shares of Comstock Resources by 775.4% in the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock valued at $9,086,000 after purchasing an additional 775,371 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Comstock Resources by 20.7% in the second quarter. Marshall Wace LLP now owns 873,918 shares of the oil and gas producer’s stock valued at $9,071,000 after purchasing an additional 149,760 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Trading Down 1.7 %

Shares of CRK opened at $13.79 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $14.28. The stock has a market capitalization of $4.03 billion, a P/E ratio of -76.61 and a beta of 0.47. The firm has a fifty day simple moving average of $11.42 and a two-hundred day simple moving average of $10.88.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $308.75 million. During the same quarter last year, the company posted $0.04 earnings per share. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, research analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Analyst Ratings Changes

CRK has been the topic of several research reports. BMO Capital Markets boosted their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price on the stock. in a report on Tuesday, October 15th. Piper Sandler lowered shares of Comstock Resources from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $8.00 to $5.00 in a report on Thursday, August 15th. Wolfe Research assumed coverage on shares of Comstock Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Mizuho decreased their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.31.

Insiders Place Their Bets

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma purchased 1,044,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was bought at an average cost of $10.93 per share, for a total transaction of $11,413,106.00. Following the purchase, the insider now directly owns 204,495,146 shares in the company, valued at $2,235,131,945.78. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders purchased 3,254,099 shares of company stock worth $35,793,597. 2.00% of the stock is currently owned by corporate 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.