Comstock Resources, Inc. (NYSE:CRK) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,532 shares of the oil and gas producer’s stock after selling 2,344 shares during the period. The Manufacturers Life Insurance Company’s holdings in Comstock Resources were worth $618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRK. Harbor Capital Advisors Inc. acquired a new position in Comstock Resources during the third quarter valued at approximately $25,000. Blue Trust Inc. acquired a new position in Comstock Resources during the second quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its position in Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 3,446 shares in the last quarter. Choreo LLC acquired a new position in Comstock Resources during the second quarter valued at approximately $105,000. Finally, Algert Global LLC acquired a new position in Comstock Resources during the second quarter valued at approximately $107,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Stock Down 4.5 %

Shares of NYSE:CRK opened at $16.80 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The company has a fifty day simple moving average of $13.45 and a 200 day simple moving average of $11.59. The firm has a market cap of $4.91 billion, a PE ratio of -93.30 and a beta of 0.57. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $17.79.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The company had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS. On average, equities research analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America assumed coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Truist Financial lifted their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research note on Tuesday, October 15th. BMO Capital Markets lifted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Finally, Citigroup lifted their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Comstock Resources presently has an average rating of “Hold” and a consensus price target of $10.89.

Comstock Resources 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.