Isthmus Partners LLC Acquires 16,886 Shares of Comstock Resources, Inc. (NYSE:CRK)

Isthmus Partners LLC grew its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 13.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,797 shares of the oil and gas producer’s stock after purchasing an additional 16,886 shares during the quarter. Isthmus Partners LLC’s holdings in Comstock Resources were worth $1,290,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRK. Principal Financial Group Inc. boosted its position in Comstock Resources by 1.1% during the third quarter. Principal Financial Group Inc. now owns 580,268 shares of the oil and gas producer’s stock worth $6,400,000 after purchasing an additional 6,319 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Comstock Resources by 7.4% in the third quarter. Victory Capital Management Inc. now owns 595,595 shares of the oil and gas producer’s stock worth $6,569,000 after buying an additional 40,883 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Comstock Resources in the third quarter worth about $239,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Comstock Resources in the third quarter worth about $581,000. Finally, South Dakota Investment Council lifted its holdings in shares of Comstock Resources by 109.1% in the third quarter. South Dakota Investment Council now owns 339,540 shares of the oil and gas producer’s stock worth $3,745,000 after buying an additional 177,132 shares in the last quarter. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

CRK traded up $0.35 on Thursday, reaching $11.57. The company had a trading volume of 2,980,284 shares, compared to its average volume of 4,220,416. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 52.59 and a beta of 0.70. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $13.39. The business has a 50 day simple moving average of $9.91 and a 200 day simple moving average of $9.15. 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, topping the consensus estimate of ($0.08) by $0.05. The firm had revenue of $335.77 million for the quarter, compared to the consensus estimate of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The business’s revenue was down 31.4% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. As a group, sell-side analysts anticipate that Comstock Resources, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

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 purchased at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the completion of the purchase, the insider now 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 SEC, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CRK shares. Piper Sandler lowered their price target on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th. Mizuho increased their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the stock an “underperform” rating in a report on Monday, May 13th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a report on Monday, April 29th. Truist Financial lowered their target price on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, February 13th. Finally, Stifel Nicolaus lowered their target price on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Comstock Resources presently has a consensus rating of “Hold” and an average price target of $10.25.

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.