Sanctuary Advisors LLC Acquires New Shares in Comstock Resources, Inc. (NYSE:CRK)

Sanctuary Advisors LLC acquired a new stake in Comstock Resources, Inc. (NYSE:CRK) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,218 shares of the oil and gas producer’s stock, valued at approximately $169,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRK. Harbor Capital Advisors Inc. bought a new position in Comstock Resources in the 3rd quarter valued at approximately $25,000. Sunbelt Securities Inc. lifted its position in Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 1,400 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Comstock Resources by 2,533.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 3,446 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Comstock Resources by 116.3% during the 3rd quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock valued at $70,000 after buying an additional 3,611 shares during the period. Finally, Choreo LLC bought a new position in shares of Comstock Resources during the 2nd quarter valued at $105,000. 36.13% of the stock is owned by institutional investors.

Comstock Resources Stock Up 10.7 %

CRK opened at $18.92 on Tuesday. The firm has a 50-day simple moving average of $14.51 and a two-hundred day simple moving average of $11.96. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $19.25. The company has a market capitalization of $5.53 billion, a PE ratio of -105.11 and a beta of 0.57. 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 (NYSE:CRK) last released 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 net margin of 4.93% and a negative return on equity of 3.88%. The company had revenue of $304.50 million for the quarter, compared to the consensus estimate of $308.75 million. During the same period last year, the company earned $0.04 EPS. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. Analysts forecast that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Comstock Resources

In related news, Director Elizabeth B. Davis sold 10,000 shares of the 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 approximately $2,021,343.73. This trade represents a 7.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 30,000 shares of company stock valued at $489,300 in the last 90 days. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup increased their price target on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report 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. Truist Financial upped their price objective on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Bank of America started coverage on Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 price target for the company. Finally, Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.78.

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.