Isthmus Partners LLC Decreases Stock Holdings in Comstock Resources, Inc. (NYSE:CRK)

Isthmus Partners LLC reduced its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 17.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 235,662 shares of the oil and gas producer’s stock after selling 49,618 shares during the quarter. Isthmus Partners LLC owned 0.08% of Comstock Resources worth $2,623,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Comstock Resources by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 58,821 shares of the oil and gas producer’s stock valued at $546,000 after purchasing an additional 4,053 shares during the period. Keynote Financial Services LLC bought a new position in Comstock Resources during the 1st quarter valued at $930,000. GAMMA Investing LLC boosted its stake in Comstock Resources by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,312 shares during the last quarter. Simplicity Wealth LLC boosted its stake in Comstock Resources by 5.7% during the 2nd quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock valued at $296,000 after acquiring an additional 1,552 shares during the last quarter. Finally, Sanders Morris Harris LLC boosted its stake in Comstock Resources by 8.1% during the 2nd quarter. Sanders Morris Harris LLC now owns 200,000 shares of the oil and gas producer’s stock valued at $2,076,000 after acquiring an additional 15,000 shares during the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Stock Performance

Comstock Resources stock opened at $15.42 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. The company’s 50-day moving average price is $12.50 and its two-hundred day moving average price is $11.22. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $15.84.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The business had revenue of $304.50 million for the quarter, compared to the consensus estimate of $308.75 million. During the same quarter last year, the business posted $0.04 EPS. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, analysts expect that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Mizuho reduced their price objective on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a research note on Monday, September 16th. Bank of America started coverage on shares of Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 target price on the stock. BMO Capital Markets increased their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Siebert Williams Shank cut shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a report on Tuesday, October 15th. Finally, Piper Sandler cut shares of Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $8.00 to $5.00 in a report on Thursday, August 15th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.31.

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.