Foundry Partners LLC Lowers Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Foundry Partners LLC trimmed its holdings in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 419,886 shares of the oil and gas producer's stock after selling 104,155 shares during the quarter. Foundry Partners LLC owned 0.15% of Comstock Resources worth $3,716,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. KGH Ltd lifted its holdings in shares of Comstock Resources by 119.3% in the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer's stock valued at $94,704,000 after purchasing an additional 4,670,959 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Comstock Resources by 1,479.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 375,547 shares of the oil and gas producer's stock worth $4,142,000 after buying an additional 351,776 shares in the last quarter. Hsbc Holdings PLC grew its position in Comstock Resources by 280.7% during the third quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer's stock worth $4,556,000 after buying an additional 301,863 shares in the last quarter. Barclays PLC grew its position in Comstock Resources by 139.7% during the third quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer's stock worth $3,600,000 after buying an additional 190,254 shares in the last quarter. Finally, Heartland Advisors Inc. grew its position in Comstock Resources by 13.9% during the third quarter. Heartland Advisors Inc. now owns 1,485,997 shares of the oil and gas producer's stock worth $18,107,000 after buying an additional 180,917 shares in the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the company's stock in a transaction dated Monday, March 25th. The stock was purchased at an average price 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 $1,566,364,289.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

Comstock Resources Stock Up 0.4 %

NYSE CRK traded up $0.04 on Tuesday, reaching $9.77. The company had a trading volume of 3,050,267 shares, compared to its average volume of 4,611,914. The company's fifty day moving average is $8.62 and its 200-day moving average is $9.47. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.68 and a current ratio of 0.68. Comstock Resources, Inc. has a 1-year low of $7.07 and a 1-year high of $13.39. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 12.87 and a beta of 0.70.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.06). Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The firm had revenue of $410.58 million during the quarter, compared to the consensus estimate of $401.97 million. During the same period in the previous year, the company posted $1.05 earnings per share. The firm's revenue for the quarter was down 55.5% compared to the same quarter last year. On average, research analysts forecast that Comstock Resources, Inc. will post 0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on CRK shares. Pickering Energy Partners upgraded shares of Comstock Resources from an "underperform" rating to a "neutral" rating in a research note on Tuesday, January 9th. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a research note on Thursday, April 4th. Truist Financial cut their price target on shares of Comstock Resources from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Tuesday, February 13th. Stifel Nicolaus cut their price target on shares of Comstock Resources from $14.00 to $13.50 and set a "buy" rating for the company in a research note on Tuesday. Finally, Mizuho cut their target price on shares of Comstock Resources from $10.00 to $9.00 and set an "underperform" rating for the company in a research note on Monday, April 15th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $9.75.

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.