Dana Investment Advisors Inc. Reduces Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Dana Investment Advisors Inc. lowered its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 561,514 shares of the oil and gas producer’s stock after selling 47,888 shares during the period. Dana Investment Advisors Inc.’s holdings in Comstock Resources were worth $10,231,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Comstock Resources during the third quarter worth $25,000. Sunbelt Securities Inc. lifted its position in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 1,400 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 2,326 shares in the last quarter. KBC Group NV raised its position in shares of Comstock Resources by 46.8% in the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 2,066 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Comstock Resources by 56.4% in the fourth quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer’s stock worth $191,000 after buying an additional 3,787 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insider Activity

In other news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $16.33, for a total transaction of $163,300.00. Following the transaction, the director now directly owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. This trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 38,000 shares of company stock valued at $634,660. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRK. Truist Financial increased their price objective on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. StockNews.com upgraded Comstock Resources to a “sell” rating in a research report on Thursday, February 20th. Citigroup increased their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley began coverage on Comstock Resources in a research report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price objective on the stock. Finally, Piper Sandler increased their price objective on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.40.

Comstock Resources Stock Down 0.8 %

CRK opened at $18.98 on Thursday. The stock has a market cap of $5.56 billion, a PE ratio of -24.97, a P/E/G ratio of 1.65 and a beta of 0.48. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. Comstock Resources, Inc. has a 52 week low of $7.74 and a 52 week high of $22.06. The business’s fifty day simple moving average is $19.03 and its 200 day simple moving average is $14.85.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. As a group, research analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

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.