State Street Corp Sells 8,750 Shares of Comstock Resources, Inc. (NYSE:CRK)

State Street Corp lowered its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,361,659 shares of the oil and gas producer’s stock after selling 8,750 shares during the period. State Street Corp owned approximately 1.83% of Comstock Resources worth $59,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CRK. Blue Trust Inc. bought a new stake in shares of Comstock Resources in the 2nd quarter worth $32,000. Louisiana State Employees Retirement System increased its holdings in Comstock Resources by 6.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the oil and gas producer’s stock worth $503,000 after buying an additional 3,000 shares in the last quarter. Keynote Financial Services LLC raised its position in Comstock Resources by 2.0% in the 2nd quarter. Keynote Financial Services LLC now owns 102,193 shares of the oil and gas producer’s stock worth $1,061,000 after buying an additional 1,975 shares during the last quarter. Pullen Investment Management LLC lifted its stake in Comstock Resources by 3.9% during the 2nd quarter. Pullen Investment Management LLC now owns 51,733 shares of the oil and gas producer’s stock valued at $537,000 after acquiring an additional 1,942 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in shares of Comstock Resources by 37.2% during the 2nd quarter. Natixis Advisors LLC now owns 35,106 shares of the oil and gas producer’s stock valued at $364,000 after acquiring an additional 9,520 shares during the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRK. Bank of America assumed coverage on shares of Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 price objective for the company. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a report on Tuesday, October 15th. Truist Financial lifted their price objective on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price target for the company from $10.00 to $18.00 in a research report on Monday. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Comstock Resources presently has a consensus rating of “Hold” and an average target price of $11.78.

Comstock Resources Price Performance

NYSE CRK opened at $15.36 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $17.79. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -85.33 and a beta of 0.57. The company’s 50 day moving average is $13.62 and its two-hundred day moving average is $11.65.

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

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.