Janney Montgomery Scott LLC Sells 11,100 Shares of Comstock Resources, Inc. (NYSE:CRK)

Janney Montgomery Scott LLC lessened its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 50.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,778 shares of the oil and gas producer’s stock after selling 11,100 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Comstock Resources were worth $219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new stake in shares of Comstock Resources in the 4th quarter worth $27,000. Sterling Capital Management LLC boosted its position in shares of Comstock Resources by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Comstock Resources by 225.2% in the 4th 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 in the last quarter. Quarry LP acquired a new stake in shares of Comstock Resources in the 4th quarter worth $70,000. Finally, GAMMA Investing LLC boosted its position in shares of Comstock Resources by 17.6% in the 1st quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer’s stock worth $138,000 after purchasing an additional 1,017 shares in the last quarter. Institutional investors own 36.13% of the company’s stock.

Wall Street Analysts Forecast Growth

CRK has been the subject of a number of recent analyst reports. Wolfe Research raised Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Tuesday, June 17th. Bank of America raised their price objective on Comstock Resources from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Piper Sandler reissued an “underweight” rating and issued a $12.00 price objective (up previously from $6.00) on shares of Comstock Resources in a research report on Tuesday, May 13th. Wall Street Zen raised Comstock Resources to a “sell” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley restated a “cautious” rating and issued a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.73.

Comstock Resources Stock Performance

NYSE CRK opened at $24.01 on Monday. The stock has a 50-day simple moving average of $24.45 and a two-hundred day simple moving average of $20.86. The firm has a market capitalization of $7.03 billion, a P/E ratio of -21.63 and a beta of 0.37. Comstock Resources, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $31.17. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.40 and a current ratio of 0.40.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data 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. The business 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 0.67% and a negative net margin of 23.39%. The company’s revenue was up 52.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) EPS. On average, equities analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

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.