Foundry Partners LLC Sells 104,155 Shares of Comstock Resources, Inc. (NYSE:CRK)

Foundry Partners LLC decreased its position in Comstock Resources, Inc. (NYSE:CRK) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,886 shares of the oil and gas producer’s stock after selling 104,155 shares during the quarter. Foundry Partners LLC owned approximately 0.15% of Comstock Resources worth $3,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRK. Federated Hermes Inc. lifted its holdings in Comstock Resources by 80.0% during the third quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock worth $61,000 after acquiring an additional 2,445 shares during the period. PNC Financial Services Group Inc. raised its stake 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 worth $73,000 after purchasing an additional 3,929 shares during the period. Steward Financial Group LLC boosted its holdings in shares of Comstock Resources by 86.9% in the 3rd quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock worth $74,000 after buying an additional 3,151 shares during the last quarter. Neo Ivy Capital Management bought a new position in Comstock Resources during the third quarter valued at about $80,000. Finally, Woodstock Corp bought a new position in Comstock Resources during the fourth quarter valued at about $88,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insider Buying and Selling

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

Comstock Resources Stock Up 2.4 %

CRK opened at $9.75 on Tuesday. 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, Inc. has a one year low of $7.07 and a one year high of $13.39. The firm has a market capitalization of $2.71 billion, a P/E ratio of 12.83 and a beta of 0.70. The company has a fifty day moving average price of $8.58 and a 200-day moving average price of $9.48.

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

Analysts Set New Price Targets

Several brokerages have commented on CRK. Stifel Nicolaus lowered their price objective on shares of Comstock Resources from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. StockNews.com raised Comstock Resources to a “sell” rating in a report on Thursday, April 4th. Piper Sandler lowered their target price on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Thursday, March 7th. Truist Financial cut their price target 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. Finally, Pickering Energy Partners upgraded Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.67.

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.