Bank of New York Mellon Corp Sells 104,036 Shares of Comstock Resources, Inc. (NYSE:CRK)

Bank of New York Mellon Corp trimmed its holdings in Comstock Resources, Inc. (NYSE:CRK – Get Rating) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,438,372 shares of the oil and gas producer’s stock after selling 104,036 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.04% of Comstock Resources worth $42,160,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Third Point LLC purchased a new stake in shares of Comstock Resources in the third quarter worth about $51,870,000. Vanguard Group Inc. grew its holdings in shares of Comstock Resources by 19.0% in the first quarter. Vanguard Group Inc. now owns 7,227,385 shares of the oil and gas producer’s stock valued at $94,318,000 after purchasing an additional 1,152,570 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Comstock Resources by 485.5% in the second quarter. Cubist Systematic Strategies LLC now owns 1,071,046 shares of the oil and gas producer’s stock worth $12,938,000 after purchasing an additional 888,106 shares during the last quarter. Bank of Montreal Can raised its stake in Comstock Resources by 5,625.1% during the second quarter. Bank of Montreal Can now owns 873,539 shares of the oil and gas producer’s stock valued at $12,002,000 after purchasing an additional 858,281 shares in the last quarter. Finally, State Street Corp lifted its position in Comstock Resources by 10.8% during the first quarter. State Street Corp now owns 8,728,560 shares of the oil and gas producer’s stock valued at $113,908,000 after purchasing an additional 849,275 shares during the last quarter. 35.22% of the stock is currently owned by institutional investors.

Insider Transactions at Comstock Resources

In other Comstock Resources news, Director Jim L. Turner acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, December 22nd. The shares were bought at an average cost of $13.91 per share, with a total value of $208,650.00. Following the completion of the acquisition, the director now directly owns 280,805 shares in the company, valued at approximately $3,905,997.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CRK shares. Tudor, Pickering, Holt & Co. started coverage on shares of Comstock Resources in a research report on Wednesday, November 16th. They set a “hold” rating on the stock. Credit Suisse Group lifted their target price on Comstock Resources from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Thursday, February 16th. Stifel Nicolaus decreased their price target on Comstock Resources from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, January 30th. KeyCorp dropped their price objective on shares of Comstock Resources from $26.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, December 8th. Finally, Mizuho increased their target price on shares of Comstock Resources from $17.00 to $18.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.28.

Comstock Resources Stock Performance

Comstock Resources stock opened at $10.80 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $3.00 billion, a PE ratio of 2.69 and a beta of 1.20. The company has a 50 day moving average price of $12.35 and a 200-day moving average price of $15.70. Comstock Resources, Inc. has a fifty-two week low of $8.20 and a fifty-two week high of $22.11.

Comstock Resources (NYSE:CRK – Get Rating) last issued its earnings results on Wednesday, February 15th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.21. The business had revenue of $922.40 million during the quarter, compared to analysts’ expectations of $665.87 million. Comstock Resources had a return on equity of 68.19% and a net margin of 31.84%. The business’s revenue for the quarter was up 40.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 EPS. As a group, equities analysts forecast that Comstock Resources, Inc. will post 1.94 earnings per share for the current year.

Comstock Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be issued a $0.125 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $0.50 annualized dividend and a dividend yield of 4.63%. Comstock Resources’s dividend payout ratio is currently 12.47%.

Comstock Resources Company Profile

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Comstock Resources, Inc engages in the acquisition, development, and exploration of oil and natural gas. The firm operations concentrated in the Haynesville shale, a premier natural gas basin located in East Texas. The company was founded in 1919 and is headquartered in Frisco, TX.