Bank of New York Mellon Corp Buys 554,378 Shares of Comstock Resources, Inc. (NYSE:CRK)

Bank of New York Mellon Corp boosted its stake in shares of Comstock Resources, Inc. (NYSE:CRKGet Rating) by 13.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,561,622 shares of the oil and gas producer’s stock after buying an additional 554,378 shares during the period. Bank of New York Mellon Corp owned approximately 1.96% of Comstock Resources worth $59,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Quadrant LLC CA bought a new stake in shares of Comstock Resources in the 1st quarter worth $28,000. Ahrens Investment Partners LLC bought a new stake in shares of Comstock Resources in the 1st quarter worth $48,000. Exchange Traded Concepts LLC bought a new stake in shares of Comstock Resources in the 1st quarter worth $50,000. Counterpoint Mutual Funds LLC increased its holdings in shares of Comstock Resources by 53.5% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 5,184 shares of the oil and gas producer’s stock worth $68,000 after purchasing an additional 1,807 shares in the last quarter. Finally, Ellevest Inc. increased its holdings in shares of Comstock Resources by 57.8% in the 1st quarter. Ellevest Inc. now owns 6,110 shares of the oil and gas producer’s stock worth $80,000 after purchasing an additional 2,237 shares in the last quarter. Institutional investors own 34.02% of the company’s stock.

Insider Activity at Comstock Resources

In other Comstock Resources news, VP Patrick Mcgough acquired 28,800 shares of the stock in a transaction dated Monday, August 8th. The shares were acquired at an average cost of $14.86 per share, for a total transaction of $427,968.00. Following the completion of the transaction, the vice president now directly owns 92,190 shares of the company’s stock, valued at $1,369,943.40. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CRK has been the subject of a number of research analyst reports. TheStreet raised Comstock Resources from a “c” rating to a “b-” rating in a report on Monday, August 1st. Citigroup restated a “buy” rating and issued a $17.00 price target on shares of Comstock Resources in a research note on Thursday, July 21st. MKM Partners restated a “neutral” rating and issued a $11.50 price target on shares of Comstock Resources in a research note on Wednesday, July 20th. Piper Sandler upgraded Comstock Resources from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $16.00 to $17.00 in a research note on Tuesday, August 2nd. Finally, The Goldman Sachs Group raised their price target on Comstock Resources from $12.00 to $13.50 and gave the stock a “sell” rating in a research note on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Comstock Resources has a consensus rating of “Hold” and a consensus target price of $16.50.

Comstock Resources Price Performance

NYSE CRK opened at $19.19 on Friday. The company has a market capitalization of $4.47 billion, a PE ratio of 21.32 and a beta of 1.42. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.55 and a current ratio of 0.55. The business’s fifty day moving average is $15.33 and its 200 day moving average is $14.57. Comstock Resources, Inc. has a fifty-two week low of $6.59 and a fifty-two week high of $22.11.

Comstock Resources (NYSE:CRKGet Rating) last released its earnings results on Monday, August 1st. The oil and gas producer reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. The company had revenue of $946.25 million for the quarter, compared to the consensus estimate of $627.80 million. Comstock Resources had a return on equity of 63.77% and a net margin of 12.80%. Comstock Resources’s quarterly revenue was up 175.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 earnings per share. Sell-side analysts predict that Comstock Resources, Inc. will post 3.26 earnings per share for the current year.

Comstock Resources Company Profile

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Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves.

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Institutional Ownership by Quarter for Comstock Resources (NYSE:CRK)

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