Victory Capital Management Inc. Sells 25,757 Shares of Comstock Resources, Inc. (NYSE:CRK)

Victory Capital Management Inc. decreased its position in Comstock Resources, Inc. (NYSE:CRK) by 61.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,222 shares of the oil and gas producer’s stock after selling 25,757 shares during the period. Victory Capital Management Inc.’s holdings in Comstock Resources were worth $296,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CRK. Empowered Funds LLC boosted its holdings in Comstock Resources by 8.7% in the third quarter. Empowered Funds LLC now owns 31,536 shares of the oil and gas producer’s stock valued at $351,000 after acquiring an additional 2,534 shares during the last quarter. Quest Partners LLC boosted its holdings in Comstock Resources by 2,818,600.0% in the third quarter. Quest Partners LLC now owns 28,187 shares of the oil and gas producer’s stock valued at $314,000 after acquiring an additional 28,186 shares during the last quarter. Intech Investment Management LLC bought a new position in Comstock Resources in the third quarter valued at about $419,000. Charles Schwab Investment Management Inc. boosted its holdings in Comstock Resources by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after acquiring an additional 57,376 shares during the last quarter. Finally, FMR LLC boosted its holdings in Comstock Resources by 266.2% in the third quarter. FMR LLC now owns 25,415 shares of the oil and gas producer’s stock valued at $283,000 after acquiring an additional 18,475 shares during the last quarter. Institutional investors own 36.13% of the company’s stock.

Insider Activity at Comstock Resources

In related news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the sale, the director now owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. This trade represents a 7.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 28,000 shares of company stock valued at $478,460. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Williams Trading set a $13.00 price target on Comstock Resources in a report on Wednesday, March 5th. StockNews.com raised Comstock Resources to a “sell” rating in a research note on Thursday. Piper Sandler increased their target price on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and increased their target price for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Finally, Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.36.

Comstock Resources Trading Up 0.5 %

NYSE CRK opened at $19.95 on Friday. The firm has a market cap of $5.84 billion, a P/E ratio of -26.24, a P/E/G ratio of 1.65 and a beta of 0.55. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The stock’s 50-day moving average is $19.11 and its 200-day moving average is $15.53. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $22.06.

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

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.