Balyasny Asset Management L.P. Sells 966 Shares of Comstock Resources, Inc. (NYSE:CRK)

Balyasny Asset Management L.P. cut its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,307 shares of the oil and gas producer’s stock after selling 966 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Comstock Resources were worth $625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CRK. Raymond James Financial Inc. purchased a new stake in shares of Comstock Resources during the fourth quarter valued at $11,891,000. Susquehanna Fundamental Investments LLC purchased a new position in Comstock Resources in the fourth quarter worth about $6,349,000. Marshall Wace LLP purchased a new position in Comstock Resources in the fourth quarter worth about $6,329,000. Edgestream Partners L.P. purchased a new position in Comstock Resources in the fourth quarter worth about $4,430,000. Finally, Dimensional Fund Advisors LP boosted its position in Comstock Resources by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer’s stock worth $242,301,000 after purchasing an additional 227,638 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Mizuho raised their target price on Comstock Resources from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday. StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. UBS Group initiated coverage on Comstock Resources in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $19.00 price objective on the stock. Williams Trading set a $13.00 price objective on Comstock Resources in a research report on Wednesday, March 5th. Finally, Piper Sandler reaffirmed an “underweight” rating and set a $12.00 price objective (up from $6.00) on shares of Comstock Resources in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Comstock Resources presently has an average rating of “Hold” and a consensus price target of $15.32.

Comstock Resources Stock Performance

NYSE:CRK opened at $24.36 on Friday. 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 1 year low of $7.74 and a 1 year high of $24.40. The stock’s 50 day simple moving average is $19.79 and its two-hundred day simple moving average is $18.00. The company has a market cap of $7.14 billion, a price-to-earnings ratio of -32.05, a PEG ratio of 1.65 and a beta of 0.14.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $512.85 million for the quarter, compared to the consensus estimate of $408.99 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The company’s revenue was up 52.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS. As a group, equities analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

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.