Rhumbline Advisers Sells 12,719 Shares of Comstock Resources, Inc. (NYSE:CRK)

Rhumbline Advisers decreased its stake in Comstock Resources, Inc. (NYSE:CRK) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,515 shares of the oil and gas producer’s stock after selling 12,719 shares during the period. Rhumbline Advisers owned 0.09% of Comstock Resources worth $5,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CRK. Bank of Montreal Can lifted its holdings in Comstock Resources by 1.9% in the fourth quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer’s stock valued at $747,000 after buying an additional 772 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of Comstock Resources during the 4th quarter worth approximately $27,000. Natixis Advisors LLC increased its stake in shares of Comstock Resources by 6.6% in the 4th quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer’s stock valued at $470,000 after acquiring an additional 1,585 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Comstock Resources by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,539 shares of the oil and gas producer’s stock worth $957,000 after acquiring an additional 1,793 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 2,326 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $25.62 on Friday. The company has a market capitalization of $7.50 billion, a P/E ratio of -33.71, a price-to-earnings-growth ratio of 1.65 and a beta of 0.32. The company’s 50-day moving average is $21.58 and its 200 day moving average is $19.46. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. Comstock Resources, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $25.65.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRK. UBS Group initiated coverage on Comstock Resources in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $19.00 price target on the stock. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a report on Wednesday, March 5th. Morgan Stanley reissued a “cautious” rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Wall Street Zen raised shares of Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. Finally, Mizuho lifted their price target on Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.15.

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.