Comstock Resources, Inc. (NYSE:CRK) Shares Sold by South Dakota Investment Council

South Dakota Investment Council lowered its position in Comstock Resources, Inc. (NYSE:CRK) by 94.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,707 shares of the oil and gas producer’s stock after selling 454,544 shares during the quarter. South Dakota Investment Council’s holdings in Comstock Resources were worth $468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royce & Associates LP grew its position in shares of Comstock Resources by 79.2% during the third quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock worth $7,677,000 after buying an additional 304,780 shares in the last quarter. Weiss Asset Management LP acquired a new position in Comstock Resources during the 3rd quarter worth $1,263,000. Barclays PLC grew its holdings in Comstock Resources by 256.3% during the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock worth $1,731,000 after acquiring an additional 111,934 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Comstock Resources by 267.8% in the 3rd quarter. Verition Fund Management LLC now owns 141,143 shares of the oil and gas producer’s stock worth $1,571,000 after purchasing an additional 102,767 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in shares of Comstock Resources in the 3rd quarter valued at about $661,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.62, for a total transaction of $156,200.00. Following the sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is owned by company insiders.

Comstock Resources Trading Down 2.4 %

Comstock Resources stock opened at $19.08 on Tuesday. Comstock Resources, Inc. has a 52-week low of $7.74 and a 52-week high of $22.06. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of -25.10, a PEG ratio of 1.65 and a beta of 0.48. The firm has a 50-day moving average price of $18.76 and a two-hundred day moving average price of $14.51.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Sell-side analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on CRK. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Bank of America started coverage on Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price for the company. Citigroup raised their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research note on Thursday, February 20th. 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 report on Monday, January 13th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.40.

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.