Sapient Capital LLC Buys Shares of 22,684 Comstock Resources, Inc. (NYSE:CRK)

Sapient Capital LLC acquired a new position in shares of Comstock Resources, Inc. (NYSE:CRK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,684 shares of the oil and gas producer’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Comstock Resources by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,263 shares of the oil and gas producer’s stock worth $10,173,000 after acquiring an additional 60,830 shares during the last quarter. Hsbc Holdings PLC grew its position in Comstock Resources by 280.7% during the 3rd quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock worth $4,556,000 after acquiring an additional 301,863 shares during the last quarter. Barclays PLC grew its position in Comstock Resources by 139.7% during the 3rd quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock worth $3,600,000 after acquiring an additional 190,254 shares during the last quarter. KGH Ltd grew its position in Comstock Resources by 119.3% during the 3rd quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after acquiring an additional 4,670,959 shares during the last quarter. Finally, Wealthsource Partners LLC bought a new stake in Comstock Resources during the 4th quarter worth $134,000. Institutional investors own 36.13% of the company’s stock.

Insider Activity at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the transaction, the insider now directly owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on CRK. Stifel Nicolaus cut their target price on Comstock Resources from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Piper Sandler cut their target price on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th. Siebert Williams Shank began coverage on Comstock Resources in a report on Tuesday, December 19th. They set a “hold” rating and a $10.00 target price on the stock. Truist Financial cut their target price on Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, February 13th. Finally, Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Comstock Resources Stock Down 2.9 %

Shares of NYSE:CRK opened at $9.28 on Tuesday. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 12.21 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68. The business’s 50-day moving average is $8.43 and its 200-day moving average is $9.51. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $13.39.

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