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

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

A number of other hedge funds have also recently bought and sold shares of CRK. Weiss Asset Management LP bought a new position in Comstock Resources in the third quarter valued at approximately $1,263,000. Barclays PLC grew its stake in Comstock Resources by 256.3% in the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after purchasing an additional 111,934 shares in the last quarter. Verition Fund Management LLC grew its stake in Comstock Resources by 267.8% in the third quarter. Verition Fund Management LLC now owns 141,143 shares of the oil and gas producer’s stock valued at $1,571,000 after purchasing an additional 102,767 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Comstock Resources by 6.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer’s stock valued at $27,436,000 after purchasing an additional 91,988 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Comstock Resources in the third quarter valued at approximately $419,000. 36.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRK. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price target for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Williams Trading set a $13.00 target price on Comstock Resources in a research note on Wednesday, March 5th. Piper Sandler lifted their target price on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Morgan Stanley started coverage on Comstock Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $18.00 target price for the company. Finally, StockNews.com upgraded Comstock Resources to a “sell” rating in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Comstock Resources presently has an average rating of “Hold” and a consensus price target of $13.36.

Comstock Resources Stock Performance

NYSE:CRK opened at $19.95 on Friday. The stock has a market cap of $5.84 billion, a P/E ratio of -26.24, a PEG ratio of 1.65 and a beta of 0.55. The stock has a 50 day simple moving average of $19.11 and a 200 day simple moving average of $15.53. 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, Inc. has a 1-year low of $7.74 and a 1-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 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14. The business had revenue of $366.51 million during 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%. Research analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction on Friday, December 27th. The stock was sold at an average price of $16.98, for a total value of $169,800.00. Following the completion of the transaction, the director now directly owns 107,632 shares of the company’s stock, valued at $1,827,591.36. The trade was a 8.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 28,000 shares of company stock valued at $478,460 in the last three months. Corporate insiders own 2.00% of the company’s stock.

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.