Principal Financial Group Inc. reduced its holdings in shares of Comstock Resources, Inc. (NYSE:CRK – Free Report) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 427,213 shares of the oil and gas producer’s stock after selling 48,040 shares during the period. Principal Financial Group Inc.’s holdings in Comstock Resources were worth $4,755,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Natixis Advisors LLC grew its stake in Comstock Resources by 37.2% during the second quarter. Natixis Advisors LLC now owns 35,106 shares of the oil and gas producer’s stock worth $364,000 after purchasing an additional 9,520 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Comstock Resources during the 2nd quarter worth approximately $116,000. Arizona State Retirement System increased its stake in shares of Comstock Resources by 6.9% in the 2nd quarter. Arizona State Retirement System now owns 28,630 shares of the oil and gas producer’s stock valued at $297,000 after acquiring an additional 1,848 shares in the last quarter. Choreo LLC acquired a new position in shares of Comstock Resources during the 2nd quarter valued at $105,000. Finally, Texas Permanent School Fund Corp boosted its stake in Comstock Resources by 164.9% during the second quarter. Texas Permanent School Fund Corp now owns 211,626 shares of the oil and gas producer’s stock worth $2,197,000 after acquiring an additional 131,733 shares in the last quarter. 36.13% of the stock is owned by institutional investors.
Comstock Resources Stock Up 2.6 %
CRK opened at $18.70 on Friday. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $19.25. The firm has a market capitalization of $5.47 billion, a P/E ratio of -103.88 and a beta of 0.57. The company’s 50-day moving average is $14.91 and its 200 day moving average is $12.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60.
Comstock Resources (NYSE:CRK – Get Free Report) last posted its earnings results 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). The firm had revenue of $304.50 million for the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. Comstock Resources’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 EPS. Research analysts expect that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the sale, the director now owns 123,781 shares in the company, valued at approximately $2,021,343.73. This trade represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 30,000 shares of company stock valued at $489,300. Insiders own 2.00% of the company’s stock.
Analyst Ratings Changes
CRK has been the subject of several research analyst reports. Siebert Williams Shank downgraded 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. BMO Capital Markets upped their price target on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Truist Financial raised their price objective on Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Citigroup upped their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Bank of America began coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.78.
Get Our Latest Analysis on CRK
Comstock Resources Company Profile
(Free Report)
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.
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