New York State Teachers Retirement System Has $648,000 Position in Comstock Resources, Inc. (NYSE:CRK)

New York State Teachers Retirement System trimmed its position in Comstock Resources, Inc. (NYSE:CRK) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,560 shares of the oil and gas producer’s stock after selling 2,600 shares during the period. New York State Teachers Retirement System’s holdings in Comstock Resources were worth $648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of Comstock Resources by 116.3% in the third quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 3,611 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Comstock Resources in the 3rd quarter valued at approximately $25,000. Mariner Investment Group LLC bought a new stake in Comstock Resources during the 3rd quarter worth approximately $278,000. Parametrica Management Ltd acquired a new stake in Comstock Resources during the 3rd quarter worth approximately $661,000. Finally, Royce & Associates LP lifted its stake in Comstock Resources by 79.2% in the third quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock valued at $7,677,000 after buying an additional 304,780 shares in the last quarter. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Price Performance

CRK stock opened at $19.08 on Tuesday. The company’s 50-day moving average price is $18.76 and its two-hundred day moving average price is $14.51. The firm has a market cap of $5.58 billion, a P/E ratio of -25.10, a P/E/G ratio of 1.65 and a beta of 0.48. 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, Inc. has a 12 month low of $7.74 and a 12 month high of $22.06.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, beating 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 firm had revenue of $366.51 million for the quarter, compared to the consensus estimate of $370.62 million. On average, analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the transaction, the director now owns 143,781 shares in the company, valued at approximately $2,245,859.22. The trade was a 6.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 38,000 shares of company stock valued at $634,660 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Bank of America assumed coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective on the stock. Piper Sandler boosted their price target on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Thursday, February 20th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Finally, Truist Financial raised their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.40.

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.