New York State Teachers Retirement System Sells 2,600 Shares of Comstock Resources, Inc. (NYSE:CRK)

New York State Teachers Retirement System trimmed its position in Comstock Resources, Inc. (NYSE:CRK) by 6.8% in the fourth quarter, HoldingsChannel reports. The firm owned 35,560 shares of the oil and gas producer’s stock after selling 2,600 shares during the quarter. New York State Teachers Retirement System’s holdings in Comstock Resources were worth $648,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRK. Sunbelt Securities Inc. increased its position 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 valued at $27,000 after purchasing an additional 1,400 shares during the last quarter. KBC Group NV increased its holdings in Comstock Resources by 46.8% during the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 2,066 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Comstock Resources during the third quarter worth about $25,000. Empowered Funds LLC boosted its stake 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. Finally, Blue Trust Inc. boosted its stake in 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 valued at $70,000 after acquiring an additional 3,611 shares during the last quarter. 36.13% of the stock is owned by institutional investors.

Comstock Resources Price Performance

Shares of Comstock Resources stock opened at $19.08 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. Comstock Resources, Inc. has a one year low of $7.74 and a one year high of $22.06. The business’s 50 day simple moving average is $18.76 and its two-hundred day simple moving average is $14.51. The stock has a market capitalization of $5.58 billion, a P/E ratio of -25.10, a price-to-earnings-growth ratio of 1.65 and a beta of 0.48.

Comstock Resources (NYSE:CRK) last posted its earnings results 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. The company had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. Analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current year.

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 transaction of $163,300.00. Following the sale, the director now directly owns 123,781 shares in the company, valued at $2,021,343.73. The trade was a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 38,000 shares of company stock worth $634,660 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

CRK has been the subject of a number of recent research reports. StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday, February 20th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Bank of America initiated coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 target price for the company. Citigroup boosted their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Piper Sandler raised their price objective 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 company’s stock. According to data from MarketBeat, Comstock Resources has an average rating of “Hold” and an average 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.