Comstock Resources, Inc. (NYSE:CRK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 10.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 427,213 shares of the oil and gas producer’s stock after selling 48,040 shares during the quarter. Principal Financial Group Inc. owned about 0.15% of Comstock Resources worth $4,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRK. Doliver Advisors LP boosted its holdings in shares of Comstock Resources by 3.9% in the 3rd quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock valued at $294,000 after purchasing an additional 988 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Comstock Resources by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock worth $172,000 after buying an additional 1,276 shares during the period. GAMMA Investing LLC boosted its holdings in Comstock Resources by 27.5% in the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,312 shares during the last quarter. XTX Topco Ltd grew its position in Comstock Resources by 4.8% during the second quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock valued at $299,000 after acquiring an additional 1,330 shares during the period. Finally, Simplicity Wealth LLC increased its stake in Comstock Resources by 5.7% during the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock worth $296,000 after acquiring an additional 1,552 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Analysts Set New Price Targets

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

Comstock Resources Trading Up 1.1 %

NYSE:CRK opened at $15.16 on Friday. Comstock Resources, Inc. has a one year low of $7.07 and a one year high of $15.84. The business’s 50-day simple moving average is $11.85 and its 200 day simple moving average is $11.02. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of -84.05 and a beta of 0.47.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The company’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 EPS. As a group, sell-side analysts predict that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at Comstock Resources

In other news, major shareholder Drilling L.P. Arkoma purchased 592,246 shares of the stock in a transaction dated Monday, August 26th. The stock was acquired at an average price of $11.54 per share, for a total transaction of $6,834,518.84. Following the completion of the transaction, the insider now owns 208,219,992 shares of the company’s stock, valued at approximately $2,402,858,707.68. The trade was a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.