California State Teachers Retirement System Sells 13,604 Shares of Comstock Resources, Inc. (NYSE:CRK)

California State Teachers Retirement System cut its stake in Comstock Resources, Inc. (NYSE:CRK) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,377 shares of the oil and gas producer’s stock after selling 13,604 shares during the quarter. California State Teachers Retirement System’s holdings in Comstock Resources were worth $1,501,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Comstock Resources during the fourth quarter valued at about $11,891,000. Corigliano Investment Advisers LLC purchased a new stake in shares of Comstock Resources during the fourth quarter valued at about $11,450,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Comstock Resources in the 4th quarter valued at about $6,349,000. Marshall Wace LLP bought a new stake in shares of Comstock Resources in the 4th quarter valued at about $6,329,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Comstock Resources in the 4th quarter worth approximately $4,430,000. 36.13% of the stock is owned by institutional investors.

Comstock Resources Stock Performance

CRK opened at $24.43 on Monday. The firm has a fifty day moving average price of $21.17 and a 200 day moving average price of $19.26. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $25.05. The stock has a market cap of $7.16 billion, a P/E ratio of -32.14, a P/E/G ratio of 1.65 and a beta of 0.32.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $512.85 million during the quarter, compared to analyst estimates of $408.99 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. Comstock Resources’s revenue for the quarter was up 52.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) EPS. Equities research analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CRK shares. Wall Street Zen raised shares of Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. Williams Trading set a $13.00 price target on Comstock Resources in a research report on Wednesday, March 5th. Piper Sandler reiterated an “underweight” rating and set a $12.00 price objective (up previously from $6.00) on shares of Comstock Resources in a report on Tuesday, May 13th. Mizuho raised their price objective on Comstock Resources from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Finally, UBS Group started coverage on Comstock Resources in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $19.00 target price on the stock. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.15.

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.