Callahan Advisors LLC Lowers Holdings in Comstock Resources, Inc. (NYSE:CRK)

Callahan Advisors LLC lowered its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,000 shares of the oil and gas producer’s stock after selling 3,000 shares during the period. Callahan Advisors LLC’s holdings in Comstock Resources were worth $237,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRK. Charles Schwab Investment Management Inc. increased its position in Comstock Resources by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after purchasing an additional 57,376 shares during the period. Royce & Associates LP increased its holdings in Comstock Resources by 79.2% during the third quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock valued at $7,677,000 after buying an additional 304,780 shares during the period. Principal Financial Group Inc. raised its stake in Comstock Resources by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 439,470 shares of the oil and gas producer’s stock worth $8,007,000 after buying an additional 12,257 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Comstock Resources by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer’s stock worth $1,896,000 after buying an additional 13,998 shares during the period. Finally, Barclays PLC boosted its position in Comstock Resources by 256.3% during the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after acquiring an additional 111,934 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Trading Up 2.1 %

Shares of Comstock Resources stock opened at $18.96 on Wednesday. The firm’s 50 day simple moving average is $18.45 and its two-hundred day simple moving average is $14.12. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -105.30, a PEG ratio of 1.45 and a beta of 0.48. Comstock Resources, Inc. has a 12-month low of $7.46 and a 12-month high of $22.06. 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 (NYSE:CRK) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. Analysts predict that Comstock Resources, Inc. will post -0.41 EPS for the current year.

Insider Activity

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the sale, the director now directly owns 123,781 shares in the company, valued at approximately $2,021,343.73. The trade was a 7.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 38,000 shares of company stock valued at $634,660. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America initiated coverage on Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price target for the company. Morgan Stanley started coverage on shares of Comstock Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price for the company. Citigroup lifted their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Piper Sandler boosted their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Finally, Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and raised their target price for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Four equities 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.40.

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.