Cross Staff Investments Inc Has $4.54 Million Position in Comstock Resources, Inc. (NYSE:CRK)

Cross Staff Investments Inc boosted its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 512,788 shares of the oil and gas producer’s stock after buying an additional 7,479 shares during the period. Comstock Resources makes up about 4.0% of Cross Staff Investments Inc’s portfolio, making the stock its 5th biggest holding. Cross Staff Investments Inc owned about 0.18% of Comstock Resources worth $4,538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in Comstock Resources by 80.0% during the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock worth $61,000 after purchasing an additional 2,445 shares during the period. PNC Financial Services Group Inc. lifted its position in Comstock Resources by 144.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 3,929 shares during the period. Steward Financial Group LLC lifted its position in Comstock Resources by 86.9% during the 3rd quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock worth $74,000 after acquiring an additional 3,151 shares during the period. Neo Ivy Capital Management acquired a new stake in Comstock Resources during the 3rd quarter worth about $80,000. Finally, Woodstock Corp acquired a new stake in Comstock Resources during the 4th quarter worth about $88,000. 36.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the completion of the transaction, the insider now directly owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by corporate insiders.

Comstock Resources Trading Down 0.1 %

CRK traded down $0.01 during trading hours on Friday, reaching $10.29. The company’s stock had a trading volume of 1,527,977 shares, compared to its average volume of 4,554,311. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $13.39. The stock has a market cap of $2.87 billion, a PE ratio of 13.55 and a beta of 0.70. The business’s 50-day moving average is $8.78 and its 200-day moving average is $9.47. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The firm had revenue of $410.58 million during the quarter, compared to analysts’ expectations of $401.97 million. Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The firm’s revenue for the quarter was down 55.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS. As a group, equities research analysts predict that Comstock Resources, Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Pickering Energy Partners upgraded Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Piper Sandler reduced their price objective on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Truist Financial reduced their price objective on Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday, February 13th. StockNews.com upgraded Comstock Resources to a “sell” rating in a research note on Thursday, April 4th. Finally, Stifel Nicolaus cut their price target on Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.75.

Comstock Resources 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.