Comstock Resources, Inc. (NYSE:CRK) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,234 shares of the oil and gas producer’s stock after selling 3,818 shares during the period. Rhumbline Advisers’ holdings in Comstock Resources were worth $5,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Comstock Resources during the third quarter worth about $25,000. Sunbelt Securities Inc. raised its position in shares of Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,400 shares during the last quarter. KBC Group NV boosted its stake in Comstock Resources by 46.8% in the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after purchasing an additional 2,066 shares in the last quarter. Blue Trust Inc. grew its position in Comstock Resources by 116.3% during the 3rd quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 3,611 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Comstock Resources during the 4th quarter valued at approximately $214,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Stock Performance

Shares of CRK stock opened at $17.48 on Friday. The stock has a market cap of $5.12 billion, a PE ratio of -23.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.48. Comstock Resources, Inc. has a 52-week low of $7.74 and a 52-week high of $22.06. The business has a 50-day simple moving average of $18.88 and a 200-day simple moving average of $14.60. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. The company had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. On average, equities analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Insider Activity at Comstock Resources

In related news, Director Elizabeth B. Davis sold 8,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.17, for a total transaction of $145,360.00. Following the sale, the director now owns 99,632 shares in the company, valued at approximately $1,810,313.44. This trade represents a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 38,000 shares of company stock worth $634,660 in the last three months. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CRK shares. Morgan Stanley started coverage on shares of Comstock Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $18.00 price objective for the company. Truist Financial raised their target price on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Citigroup increased their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, StockNews.com raised Comstock Resources to a “sell” rating in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.40.

About Comstock Resources

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.