Mutual of America Capital Management LLC Sells 1,529 Shares of Comstock Resources, Inc. $CRK

Mutual of America Capital Management LLC cut its position in Comstock Resources, Inc. (NYSE:CRK) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,665 shares of the oil and gas producer’s stock after selling 1,529 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Comstock Resources were worth $323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRK. Nisa Investment Advisors LLC grew its position in shares of Comstock Resources by 129.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 1,170 shares during the period. Emerald Mutual Fund Advisers Trust bought a new position in shares of Comstock Resources in the 1st quarter valued at about $52,000. State of Wyoming bought a new position in shares of Comstock Resources in the 1st quarter valued at about $126,000. GAMMA Investing LLC grew its holdings in Comstock Resources by 17.6% during the first 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 during the period. Finally, Emerald Advisers LLC bought a new position in Comstock Resources during the first quarter worth about $158,000. 36.13% of the stock is owned by institutional investors.

Comstock Resources Trading Up 1.4%

Shares of Comstock Resources stock opened at $17.49 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $5.12 billion, a PE ratio of -72.86 and a beta of 0.19. Comstock Resources, Inc. has a 52-week low of $11.05 and a 52-week high of $31.17. The firm has a 50-day moving average of $17.78 and a 200-day moving average of $20.55.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $470.26 million during the quarter, compared to the consensus estimate of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The business’s revenue for the quarter was up 90.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) EPS. As a group, sell-side analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

CRK has been the subject of a number of research analyst reports. Roth Capital cut Comstock Resources from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $18.00 to $12.00 in a report on Monday, August 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Comstock Resources in a research note on Wednesday, October 8th. Zacks Research downgraded Comstock Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Morgan Stanley reduced their price objective on shares of Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. Finally, Piper Sandler set a $9.00 price objective on shares of Comstock Resources and gave the stock an “underweight” rating in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $19.50.

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.