Comstock Resources, Inc. (NYSE:CRK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 5.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 698,314 shares of the oil and gas producer’s stock after selling 43,841 shares during the period. Bank of New York Mellon Corp owned about 0.24% of Comstock Resources worth $14,204,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC increased its stake in Comstock Resources by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 2,631 shares during the last quarter. Quarry LP acquired a new position in shares of Comstock Resources in the 4th quarter valued at $70,000. GAMMA Investing LLC grew 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 valued at $138,000 after buying an additional 1,017 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Comstock Resources during the 4th quarter worth $194,000. Finally, Townsquare Capital LLC acquired a new stake in Comstock Resources during the 4th quarter worth $202,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Performance

Shares of NYSE:CRK opened at $23.17 on Friday. 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, Inc. has a one year low of $7.74 and a one year high of $31.17. The business’s 50-day simple moving average is $24.95 and its 200 day simple moving average is $21.25. The company has a market cap of $6.79 billion, a P/E ratio of -20.87 and a beta of 0.37.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Comstock Resources had a negative return on equity of 0.67% and a negative net margin of 23.39%. The business had revenue of $512.85 million during the quarter, compared to the consensus estimate of $408.99 million. During the same period last year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was up 52.7% compared to the same quarter last year. On average, sell-side analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRK. Wolfe Research upgraded Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research note on Tuesday, June 17th. Bank of America raised their price objective on shares of Comstock Resources from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Citigroup reiterated a “neutral” rating and set a $27.00 price target (up from $22.00) on shares of Comstock Resources in a research report on Friday, June 13th. Mizuho upped their price target on Comstock Resources from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Finally, Wall Street Zen raised Comstock Resources to a “sell” rating in a research note on Thursday, May 8th. Five analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Comstock Resources currently has an average rating of “Hold” and a consensus target price of $19.82.

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.