Comstock Resources, Inc. (NYSE:CRK) Shares Sold by PDT Partners LLC

PDT Partners LLC reduced its position in Comstock Resources, Inc. (NYSE:CRK) by 46.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,251 shares of the oil and gas producer’s stock after selling 275,370 shares during the period. PDT Partners LLC owned about 0.11% of Comstock Resources worth $3,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRK. Harbor Capital Advisors Inc. acquired a new stake in Comstock Resources in the third quarter valued at $25,000. Blue Trust Inc. purchased a new stake in shares of Comstock Resources in the 2nd quarter worth about $32,000. EverSource Wealth Advisors LLC grew its stake in Comstock Resources by 2,533.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 3,446 shares during the last quarter. GAMMA Investing LLC increased its holdings in 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 valued at $63,000 after acquiring an additional 1,312 shares in the last quarter. Finally, Choreo LLC acquired a new position in Comstock Resources during the second quarter worth about $105,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRK. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research report on Tuesday, October 15th. Bank of America assumed coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 target price on the stock. Piper Sandler cut Comstock Resources from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $5.00 in a report on Thursday, August 15th. BMO Capital Markets increased their price objective on Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Finally, Mizuho reduced their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Comstock Resources has an average rating of “Hold” and a consensus target price of $10.31.

Comstock Resources Stock Up 1.1 %

CRK opened at $15.59 on Friday. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of -86.58 and a beta of 0.47. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $15.84. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. The business has a 50-day moving average of $12.60 and a two-hundred day moving average of $11.26.

Comstock Resources (NYSE:CRK) last released its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The company had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. Comstock Resources’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share. On average, research analysts expect that Comstock Resources, Inc. will post -0.44 earnings per share for the current 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.