Comstock Resources, Inc. (NYSE:CRK) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its stake in Comstock Resources, Inc. (NYSE:CRK) by 13.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 26,465 shares of the oil and gas producer’s stock after selling 4,130 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Comstock Resources were worth $538,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CRK. Phocas Financial Corp. acquired a new stake in Comstock Resources during the 1st quarter worth approximately $1,115,000. Natixis Advisors LLC lifted its holdings in Comstock Resources by 33.2% during the 1st quarter. Natixis Advisors LLC now owns 34,326 shares of the oil and gas producer’s stock worth $698,000 after buying an additional 8,548 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Comstock Resources during the 1st quarter worth approximately $271,000. GSA Capital Partners LLP lifted its holdings in Comstock Resources by 39.8% during the 1st quarter. GSA Capital Partners LLP now owns 93,492 shares of the oil and gas producer’s stock worth $1,902,000 after buying an additional 26,609 shares in the last quarter. Finally, TCTC Holdings LLC lifted its holdings in Comstock Resources by 184.3% during the 1st quarter. TCTC Holdings LLC now owns 61,700 shares of the oil and gas producer’s stock worth $1,255,000 after buying an additional 40,000 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Trading Up 1.4%

NYSE CRK opened at $15.90 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.36 and a quick ratio of 0.36. The firm’s fifty day moving average price is $22.83 and its 200 day moving average price is $20.99. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -66.26 and a beta of 0.28. Comstock Resources, Inc. has a 12 month low of $9.09 and a 12 month high of $31.17.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $470.26 million for the quarter, compared to the consensus estimate of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The company’s revenue was up 90.5% on a year-over-year basis. During the same period last year, the firm posted ($0.20) EPS. On average, sell-side analysts expect that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRK has been the topic of a number of research reports. Wall Street Zen upgraded shares of Comstock Resources to a “sell” rating in a report on Thursday, May 8th. Wolfe Research raised shares of Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research report on Tuesday, June 17th. UBS Group dropped their price objective on shares of Comstock Resources from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday, July 31st. Piper Sandler dropped their price objective on shares of Comstock Resources from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, August 4th. Finally, Mizuho increased their price objective on shares of Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.18.

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.