Yousif Capital Management LLC Cuts Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Yousif Capital Management LLC reduced its position in Comstock Resources, Inc. (NYSE:CRK) by 20.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,596 shares of the oil and gas producer’s stock after selling 11,570 shares during the quarter. Yousif Capital Management LLC’s holdings in Comstock Resources were worth $404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. raised its position in shares of Comstock Resources by 80.0% in the 3rd 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 in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Comstock Resources by 144.7% in 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 buying an additional 3,929 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Comstock Resources in the 3rd quarter worth approximately $80,000. Woodstock Corp purchased a new stake in shares of Comstock Resources in the 4th quarter worth approximately $88,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Comstock Resources in the 4th quarter worth approximately $97,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CRK shares. 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 research note on Thursday, March 7th. Mizuho lowered their price target on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a report on Monday, April 15th. Truist Financial lowered their price target on Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, February 13th. Stifel Nicolaus lowered their price target on Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Finally, Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Comstock Resources presently has an average rating of “Hold” and an average price target of $9.75.

Comstock Resources Price Performance

Shares of Comstock Resources stock opened at $10.32 on Tuesday. Comstock Resources, Inc. has a one year low of $7.07 and a one year high of $13.39. The stock’s fifty day moving average is $9.09 and its 200 day moving average is $9.30. The stock has a market cap of $3.02 billion, a P/E ratio of 46.91 and a beta of 0.70. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $335.77 million for the quarter, compared to analysts’ expectations of $343.97 million. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The business’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. Sell-side analysts anticipate that Comstock Resources, Inc. will post -0.13 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the completion of the acquisition, 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 is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Comstock Resources Company Profile

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.