Comstock Resources, Inc. $CRK Holdings Lowered by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,046 shares of the oil and gas producer’s stock after selling 1,131 shares during the period. MetLife Investment Management LLC’s holdings in Comstock Resources were worth $1,120,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CRK. Price T Rowe Associates Inc. MD lifted its holdings in shares of Comstock Resources by 11.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 66,060 shares of the oil and gas producer’s stock valued at $1,204,000 after purchasing an additional 6,741 shares during the last quarter. BOKF NA purchased a new stake in Comstock Resources in the 4th quarter worth about $2,584,000. Deutsche Bank AG lifted its stake in Comstock Resources by 72.6% in the 4th quarter. Deutsche Bank AG now owns 100,520 shares of the oil and gas producer’s stock worth $1,831,000 after acquiring an additional 42,296 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in Comstock Resources in the 4th quarter worth about $653,000. Finally, Glenorchy Capital Ltd lifted its stake in Comstock Resources by 4.2% in the 4th quarter. Glenorchy Capital Ltd now owns 205,976 shares of the oil and gas producer’s stock worth $3,753,000 after acquiring an additional 8,263 shares in the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Up 1.2%

CRK opened at $16.00 on Friday. The business has a 50-day moving average of $19.34 and a 200-day moving average of $20.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.36 and a quick ratio of 0.36. Comstock Resources, Inc. has a fifty-two week low of $9.09 and a fifty-two week high of $31.17. The company has a market capitalization of $4.69 billion, a PE ratio of -66.68 and a beta of 0.27.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The business had revenue of $470.26 million for the quarter, compared to the consensus estimate of $431.82 million. During the same period last year, the business earned ($0.20) EPS. The firm’s revenue was up 90.5% compared to the same quarter last year. Equities research analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America increased their price objective on Comstock Resources from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Citigroup reaffirmed a “neutral” rating and set a $27.00 price target (up from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. UBS Group cut their price target on Comstock Resources from $18.00 to $14.00 and set a “sell” rating for the company in a research note on Wednesday, August 20th. Morgan Stanley cut their price target on Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 4th. Finally, Roth Capital downgraded Comstock Resources from a “neutral” rating to a “sell” rating and cut their price target for the stock from $18.00 to $12.00 in a research note on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Comstock Resources has a consensus rating of “Reduce” and a consensus price target of $18.25.

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.