New York State Teachers Retirement System Decreases Stake in Comstock Resources, Inc. (NYSE:CRK)

New York State Teachers Retirement System decreased its position in Comstock Resources, Inc. (NYSE:CRK) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,904 shares of the oil and gas producer’s stock after selling 8,799 shares during the period. New York State Teachers Retirement System’s holdings in Comstock Resources were worth $424,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealthsource Partners LLC purchased a new stake in Comstock Resources in the 4th quarter valued at about $134,000. SG Americas Securities LLC increased its stake in shares of Comstock Resources by 4.6% during the 4th quarter. SG Americas Securities LLC now owns 53,942 shares of the oil and gas producer’s stock worth $477,000 after purchasing an additional 2,389 shares during the last quarter. Woodstock Corp purchased a new stake in shares of Comstock Resources during the 4th quarter worth approximately $88,000. Wesbanco Bank Inc. increased its stake in shares of Comstock Resources by 24.4% during the 3rd quarter. Wesbanco Bank Inc. now owns 149,549 shares of the oil and gas producer’s stock worth $1,650,000 after purchasing an additional 29,300 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Comstock Resources by 7.9% during the 3rd quarter. American Century Companies Inc. now owns 1,321,191 shares of the oil and gas producer’s stock worth $14,573,000 after purchasing an additional 96,669 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insider Buying and Selling at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the acquisition, the insider now directly owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

Comstock Resources Stock Up 0.4 %

Shares of NYSE:CRK opened at $9.23 on Friday. The firm has a fifty day moving average price of $8.53 and a two-hundred day moving average price of $9.50. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68. Comstock Resources, Inc. has a one year low of $7.07 and a one year high of $13.39. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 12.14 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The firm had revenue of $410.58 million during the quarter, compared to the consensus estimate of $401.97 million. During the same period in the previous year, the business earned $1.05 earnings per share. The firm’s revenue for the quarter was down 55.5% on a year-over-year basis. Analysts anticipate that Comstock Resources, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRK has been the subject of several research analyst reports. Mizuho decreased their price target on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a research note on Monday. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research note on Thursday, April 4th. Piper Sandler cut their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. Pickering Energy Partners raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. Finally, Truist Financial cut their price objective on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a report on Tuesday, February 13th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.00.

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.