Comstock Resources, Inc. (NYSE:CRK) Shares Sold by Cross Staff Investments Inc

Cross Staff Investments Inc lowered its position in Comstock Resources, Inc. (NYSE:CRK) by 16.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 418,813 shares of the oil and gas producer’s stock after selling 81,908 shares during the period. Comstock Resources comprises approximately 3.6% of Cross Staff Investments Inc’s investment portfolio, making the stock its 5th biggest position. Cross Staff Investments Inc’s holdings in Comstock Resources were worth $4,661,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Doliver Advisors LP raised its position in shares of Comstock Resources by 3.9% in the third quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock worth $294,000 after acquiring an additional 988 shares during the period. ProShare Advisors LLC raised its position in shares of Comstock Resources by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock worth $172,000 after purchasing an additional 1,276 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Comstock Resources by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 1,312 shares during the last quarter. XTX Topco Ltd raised its position in shares of Comstock Resources by 4.8% during the 2nd quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock worth $299,000 after purchasing an additional 1,330 shares during the last quarter. Finally, Simplicity Wealth LLC raised its position in shares of Comstock Resources by 5.7% during the 2nd quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock worth $296,000 after purchasing an additional 1,552 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Analysts Set New Price Targets

CRK has been the subject of several research analyst reports. BMO Capital Markets upped their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Truist Financial increased their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday, September 30th. KeyCorp started coverage on shares of Comstock Resources in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Siebert Williams Shank cut shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a research note on Tuesday, October 15th. Finally, Wolfe Research started coverage on shares of Comstock Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.79.

Insider Buying and Selling

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma acquired 825,868 shares of the stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $9.76 per share, with a total value of $8,060,471.68. Following the transaction, the insider now owns 198,949,901 shares of the company’s stock, valued at approximately $1,941,751,033.76. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Comstock Resources news, major shareholder Drilling L.P. Arkoma acquired 825,868 shares of the stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $9.76 per share, with a total value of $8,060,471.68. Following the transaction, the insider now owns 198,949,901 shares of the company’s stock, valued at approximately $1,941,751,033.76. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Star Exploration Corp Blue bought 825,000 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $8.16 per share, for a total transaction of $6,732,000.00. Following the acquisition, the insider now owns 195,646,429 shares of the company’s stock, valued at approximately $1,596,474,860.64. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 6,712,733 shares of company stock worth $67,816,851 in the last ninety days. 1.50% of the stock is owned by corporate insiders.

Comstock Resources Price Performance

Shares of CRK opened at $12.01 on Friday. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $13.39. The firm’s fifty day simple moving average is $10.92 and its 200-day simple moving average is $10.59. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 54.59 and a beta of 0.47. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The company had revenue of $246.80 million for the quarter, compared to analyst estimates of $296.02 million. The company’s quarterly revenue was down 14.4% on a year-over-year basis. Equities analysts forecast that Comstock Resources, Inc. will post -0.37 EPS for the current fiscal year.

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.