Outfitter Financial LLC Purchases 1,630 Shares of Comstock Resources, Inc. (NYSE:CRK)

Outfitter Financial LLC grew its position in Comstock Resources, Inc. (NYSE:CRK) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,300 shares of the oil and gas producer’s stock after purchasing an additional 1,630 shares during the period. Outfitter Financial LLC’s holdings in Comstock Resources were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Federated Hermes Inc. raised its position in shares of Comstock Resources by 80.0% in the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock valued at $61,000 after buying an additional 2,445 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of 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 valued at $73,000 after purchasing an additional 3,929 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Comstock Resources during the 3rd quarter valued at approximately $80,000. Woodstock Corp bought a new stake in shares of Comstock Resources during the 4th quarter valued at approximately $88,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Comstock Resources during the 4th quarter valued at approximately $97,000. Institutional investors own 36.13% of the company’s stock.

Insider Activity at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue acquired 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 transaction, the insider now directly owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

Comstock Resources Price Performance

Shares of CRK traded down $0.08 during mid-day trading on Friday, hitting $10.22. 432,232 shares of the stock were exchanged, compared to its average volume of 4,359,854. The company has a market cap of $2.99 billion, a PE ratio of 46.86 and a beta of 0.70. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $13.39. The firm has a 50-day moving average of $9.20 and a two-hundred day moving average of $9.30. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.05. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The business had revenue of $335.77 million for the quarter, compared to analysts’ expectations of $343.97 million. During the same period in the prior year, the firm earned $0.33 EPS. The company’s revenue for the quarter was down 31.4% on a year-over-year basis. On average, equities analysts predict that Comstock Resources, Inc. will post -0.13 earnings per share for the current year.

Analysts Set New Price Targets

CRK has been the topic of a number of research reports. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research report on Monday, April 29th. Truist Financial dropped their target price on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, February 13th. The Goldman Sachs Group lifted their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 2nd. Mizuho dropped their target price on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a research report on Monday, April 15th. Finally, Piper Sandler dropped their target price on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Thursday, March 7th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Comstock Resources currently has a consensus rating of “Hold” and an average price target of $9.75.

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.