Sapient Capital LLC Invests $201,000 in Comstock Resources, Inc. (NYSE:CRK)

Sapient Capital LLC acquired a new position in shares of Comstock Resources, Inc. (NYSE:CRK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,684 shares of the oil and gas producer’s stock, valued at approximately $201,000.

Several other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Comstock Resources by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 922,263 shares of the oil and gas producer’s stock valued at $10,173,000 after acquiring an additional 60,830 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Comstock Resources by 280.7% in the 3rd quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock valued at $4,556,000 after acquiring an additional 301,863 shares during the period. Barclays PLC lifted its stake in shares of 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 purchasing an additional 190,254 shares in the last quarter. KGH Ltd grew its stake 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 buying an additional 4,670,959 shares in the last quarter. Finally, Wealthsource Partners LLC acquired a new stake in shares of Comstock Resources in the fourth quarter valued at about $134,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRK. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Monday, April 29th. Pickering Energy Partners raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. Mizuho cut their price objective on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a report on Monday, April 15th. Truist Financial cut their price target on 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 cut 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 research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.75.

Insider Activity at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the acquisition, the insider now directly owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by insiders.

Comstock Resources Stock Performance

NYSE:CRK opened at $10.34 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average of $9.13 and a 200-day moving average of $9.29. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $13.39. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 47.00 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share (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 analyst estimates of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The firm’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. Analysts forecast that Comstock Resources, Inc. will post -0.13 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.