South Dakota Investment Council Cuts Stock Holdings in Comstock Resources, Inc. (NYSE:CRK)

South Dakota Investment Council trimmed its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 47.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 178,940 shares of the oil and gas producer’s stock after selling 160,600 shares during the period. South Dakota Investment Council owned 0.06% of Comstock Resources worth $1,584,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Comstock Resources by 5.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock valued at $366,000 after purchasing an additional 2,310 shares during the last quarter. SG Americas Securities LLC lifted its position in Comstock Resources by 4.6% during the fourth quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock valued at $477,000 after purchasing an additional 2,389 shares during the last quarter. Federated Hermes Inc. lifted its position in Comstock Resources by 80.0% during the third quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock valued at $61,000 after purchasing an additional 2,445 shares during the last quarter. Pittenger & Anderson Inc. lifted its position in Comstock Resources by 42.9% during the third quarter. Pittenger & Anderson Inc. now owns 10,000 shares of the oil and gas producer’s stock valued at $110,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Steward Financial Group LLC lifted its holdings in shares of Comstock Resources by 86.9% in the 3rd quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock worth $74,000 after acquiring an additional 3,151 shares during the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Up 3.8 %

CRK stock opened at $10.15 on Thursday. The firm has a 50 day moving average of $8.72 and a 200 day moving average of $9.46. The stock has a market capitalization of $2.83 billion, a PE ratio of 13.36 and a beta of 0.70. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.11. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $13.39.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The business had revenue of $410.58 million for the quarter, compared to analyst estimates of $401.97 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The business’s revenue was down 55.5% on a year-over-year basis. Sell-side analysts forecast that Comstock Resources, Inc. will post -0.06 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the purchase, the insider now owns 194,821,429 shares in the company, valued at approximately $1,566,364,289.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CRK shares. Piper Sandler lowered their target price on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. Pickering Energy Partners upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. Truist Financial decreased their price objective on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a report on Tuesday, February 13th. The Goldman Sachs Group raised their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 2nd. 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 report on Tuesday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.75.

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.