Dimensional Fund Advisors LP Decreases Stake in Comstock Resources, Inc. $CRK

Dimensional Fund Advisors LP lessened its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,260,788 shares of the oil and gas producer’s stock after selling 102,660 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Comstock Resources were worth $237,398,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rothschild Investment LLC lifted its stake in shares of Comstock Resources by 740.4% in the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 1,007 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Comstock Resources during the 3rd quarter valued at about $27,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Comstock Resources during the 1st quarter valued at about $29,000. Kemnay Advisory Services Inc. acquired a new stake in Comstock Resources in the 4th quarter valued at about $29,000. Finally, Hantz Financial Services Inc. raised its holdings in Comstock Resources by 877.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 1,290 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CRK shares. Zacks Research cut Comstock Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Roth Capital raised Comstock Resources from a “sell” rating to a “neutral” rating and set a $13.00 price target for the company in a report on Friday, July 10th. The Goldman Sachs Group reduced their price objective on Comstock Resources from $13.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. UBS Group reissued a “sell” rating and set a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Finally, Mizuho dropped their target price on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Six equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $15.22.

Comstock Resources Stock Down 2.0%

Shares of CRK opened at $13.73 on Friday. The company’s 50-day moving average price is $13.66 and its 200 day moving average price is $17.66. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.96. Comstock Resources, Inc. has a 12-month low of $12.44 and a 12-month high of $28.10. The firm has a market cap of $4.03 billion, a P/E ratio of 6.27 and a beta of 0.10.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a return on equity of 5.54% and a net margin of 27.18%.The company had revenue of $587.35 million for the quarter, compared to analysts’ expectations of $554.01 million. During the same period in the previous year, the business posted $0.18 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts forecast that Comstock Resources, Inc. will post 0.5 earnings per share for the current year.

About Comstock Resources

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.