Comstock Resources, Inc. $CRK Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in Comstock Resources, Inc. (NYSE:CRK) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,191 shares of the oil and gas producer’s stock after selling 940 shares during the quarter. Corebridge Financial Inc.’s holdings in Comstock Resources were worth $980,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Comstock Resources by 17.6% in the 1st quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer’s stock worth $138,000 after acquiring an additional 1,017 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Comstock Resources by 1.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer’s stock worth $917,000 after acquiring an additional 550 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Comstock Resources by 129.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 1,170 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Comstock Resources by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 451,327 shares of the oil and gas producer’s stock worth $9,180,000 after acquiring an additional 11,857 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Comstock Resources by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer’s stock worth $957,000 after acquiring an additional 1,793 shares during the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America raised their target price on Comstock Resources from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Roth Capital downgraded Comstock Resources from a “neutral” rating to a “sell” rating and cut their target price for the stock from $18.00 to $12.00 in a research note on Monday, August 18th. Mizuho raised their target price on Comstock Resources from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Morgan Stanley cut their price objective on Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. Finally, Piper Sandler cut their price objective on Comstock Resources from $12.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $18.25.

Comstock Resources Stock Down 0.7%

Shares of NYSE:CRK opened at $15.89 on Friday. The business has a 50-day moving average price of $19.08 and a 200 day moving average price of $20.69. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -66.18 and a beta of 0.27. Comstock Resources, Inc. has a 12-month low of $9.09 and a 12-month high of $31.17.

Comstock Resources (NYSE:CRK) last announced 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. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The company had revenue of $470.26 million during the quarter, compared to analysts’ expectations of $431.82 million. During the same period last year, the business posted ($0.20) EPS. Comstock Resources’s revenue for the quarter was up 90.5% on a year-over-year basis. Sell-side analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current 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.