Farther Finance Advisors LLC Sells 907 Shares of Comstock Resources, Inc. (NYSE:CRK)

Farther Finance Advisors LLC reduced its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 14.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,460 shares of the oil and gas producer’s stock after selling 907 shares during the quarter. Farther Finance Advisors LLC’s holdings in Comstock Resources were worth $61,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Pullen Investment Management LLC increased its stake in Comstock Resources by 16.1% during the 3rd quarter. Pullen Investment Management LLC now owns 60,045 shares of the oil and gas producer’s stock valued at $668,000 after purchasing an additional 8,312 shares in the last quarter. Glenorchy Capital Ltd increased its stake in Comstock Resources by 91.1% during the 3rd quarter. Glenorchy Capital Ltd now owns 197,713 shares of the oil and gas producer’s stock valued at $2,201,000 after purchasing an additional 94,230 shares in the last quarter. Blue Trust Inc. increased its stake in Comstock Resources by 116.3% during the 3rd quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 3,611 shares in the last quarter. nVerses Capital LLC bought a new stake in Comstock Resources during the 3rd quarter valued at about $215,000. Finally, SG Americas Securities LLC increased its stake in Comstock Resources by 269.4% during the 3rd quarter. SG Americas Securities LLC now owns 55,044 shares of the oil and gas producer’s stock valued at $613,000 after purchasing an additional 40,142 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRK has been the subject of a number of analyst reports. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a research note on Tuesday, October 15th. BMO Capital Markets raised their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Bank of America assumed coverage on shares of Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Truist Financial raised their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Mizuho dropped their price target 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 investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.31.

Comstock Resources Stock Performance

CRK opened at $13.79 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $14.28. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -76.61 and a beta of 0.47. The company’s 50 day moving average is $11.42 and its 200 day moving average is $10.88.

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

Insider Transactions at Comstock Resources

In related news, major shareholder Drilling L.P. Arkoma bought 592,246 shares of the stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $11.54 per share, with a total value of $6,834,518.84. Following the completion of the acquisition, the insider now owns 208,219,992 shares of the company’s stock, valued at $2,402,858,707.68. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have purchased 3,254,099 shares of company stock valued at $35,793,597. 2.00% of the stock is currently owned by corporate insiders.

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.