Rhumbline Advisers Sells 3,818 Shares of Comstock Resources, Inc. (NYSE:CRK)

Rhumbline Advisers lessened its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 1.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 281,234 shares of the oil and gas producer’s stock after selling 3,818 shares during the period. Rhumbline Advisers owned approximately 0.10% of Comstock Resources worth $5,124,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CRK. Harbor Capital Advisors Inc. purchased a new stake in shares of Comstock Resources in the third quarter valued at $25,000. Sunbelt Securities Inc. boosted its stake in shares of Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,400 shares during the period. Blue Trust Inc. grew its holdings 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 valued at $70,000 after purchasing an additional 3,611 shares during the last quarter. KBC Group NV raised its position 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 during the period. Finally, Sanctuary Advisors LLC purchased a new stake in Comstock Resources in the 3rd quarter worth about $169,000. 36.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRK. Truist Financial boosted their target price on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Citigroup boosted 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. Morgan Stanley assumed coverage on Comstock Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price on the stock. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Finally, Piper Sandler upped their price target on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Comstock Resources currently has an average rating of “Hold” and a consensus target price of $13.40.

Comstock Resources Stock Performance

Shares of Comstock Resources stock opened at $17.48 on Friday. Comstock Resources, Inc. has a 12 month low of $7.74 and a 12 month high of $22.06. The stock’s fifty day moving average price is $18.88 and its 200-day moving average price is $14.60. The firm has a market cap of $5.12 billion, a P/E ratio of -23.00, a P/E/G ratio of 1.65 and a beta of 0.48. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

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

Insider Activity at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the sale, the director now owns 123,781 shares in the company, valued at $2,021,343.73. This represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 38,000 shares of company stock valued at $634,660 over the last ninety days. 2.00% of the stock is owned by company insiders.

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.