113,505 Shares in Comstock Resources, Inc. (NYSE:CRK) Acquired by Weiss Asset Management LP

Weiss Asset Management LP purchased a new stake in shares of Comstock Resources, Inc. (NYSE:CRK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 113,505 shares of the oil and gas producer’s stock, valued at approximately $1,263,000.

Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in Comstock Resources during the 3rd quarter worth $25,000. Blue Trust Inc. acquired a new position in shares of Comstock Resources during the second quarter worth about $32,000. EverSource Wealth Advisors LLC boosted its position in shares of Comstock Resources by 2,533.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 3,446 shares during the period. Choreo LLC acquired a new stake in shares of Comstock Resources in the second quarter valued at about $105,000. Finally, Algert Global LLC acquired a new stake in shares of Comstock Resources in the second quarter valued at about $107,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Price Performance

Shares of CRK opened at $14.52 on Monday. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $15.84. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of -80.67 and a beta of 0.57. The stock has a 50 day moving average of $12.98 and a 200-day moving average of $11.41.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The business had revenue of $304.50 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $0.04 EPS. As a group, analysts forecast that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRK. Truist Financial upped their price target on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Mizuho decreased their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. Citigroup boosted their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday. Bank of America started coverage on Comstock Resources in a research note on Monday, October 28th. They set a “buy” rating and a $14.00 target price for the company. Finally, Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research note on Tuesday, October 15th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Comstock Resources has a consensus rating of “Hold” and an average price target of $10.89.

Comstock Resources 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.