Wellington Management Group LLP Lowers Holdings in Comstock Resources, Inc. (NYSE:CRK)

Wellington Management Group LLP reduced its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 57.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,056,844 shares of the oil and gas producer’s stock after selling 1,437,900 shares during the quarter. Wellington Management Group LLP’s holdings in Comstock Resources were worth $11,763,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CRK. KGH Ltd raised its position in shares of Comstock Resources by 8.7% in the second quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock worth $125,858,000 after acquiring an additional 975,000 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Comstock Resources by 26.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock valued at $121,414,000 after purchasing an additional 2,438,252 shares in the last quarter. American Century Companies Inc. raised its holdings in Comstock Resources by 19.0% in the 2nd quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock worth $23,567,000 after purchasing an additional 362,043 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Comstock Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock worth $15,736,000 after purchasing an additional 57,376 shares during the period. Finally, Millennium Management LLC boosted its position in Comstock Resources by 775.4% during the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock worth $9,086,000 after purchasing an additional 775,371 shares in the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Stock Down 4.5 %

CRK stock opened at $16.80 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average of $13.45 and a two-hundred day moving average of $11.59. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $17.79. The company has a market cap of $4.91 billion, a price-to-earnings ratio of -93.33 and a beta of 0.57.

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Mizuho cut their price objective on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Truist Financial upped their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. BMO Capital Markets increased their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company 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 target price for the company. in a research note on Tuesday, October 15th. Finally, Bank of America initiated coverage on shares of Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 price target on the stock. Five investment 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.89.

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.