SG Americas Securities LLC Sells 92,864 Shares of Comstock Resources, Inc. $CRK

SG Americas Securities LLC lowered its position in Comstock Resources, Inc. (NYSE:CRK) by 78.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,527 shares of the oil and gas producer’s stock after selling 92,864 shares during the period. SG Americas Securities LLC’s holdings in Comstock Resources were worth $506,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CRK. Bank of America Corp DE raised its position in shares of Comstock Resources by 344.5% during the second quarter. Bank of America Corp DE now owns 1,853,846 shares of the oil and gas producer’s stock worth $51,296,000 after purchasing an additional 1,436,746 shares during the period. Goldman Sachs Group Inc. raised its holdings in Comstock Resources by 67.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock worth $22,107,000 after buying an additional 437,476 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Comstock Resources by 195.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 588,033 shares of the oil and gas producer’s stock valued at $16,271,000 after buying an additional 389,261 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Comstock Resources by 21.3% during the second quarter. First Trust Advisors LP now owns 465,554 shares of the oil and gas producer’s stock valued at $12,882,000 after buying an additional 81,627 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Comstock Resources by 89.3% during the second quarter. Ameriprise Financial Inc. now owns 389,989 shares of the oil and gas producer’s stock worth $10,791,000 after acquiring an additional 183,944 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Down 0.9%

Shares of NYSE:CRK opened at $24.25 on Friday. The company has a market capitalization of $7.10 billion, a PE ratio of 96.98 and a beta of 0.39. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.41 and a quick ratio of 0.41. The business has a fifty day moving average price of $23.50 and a two-hundred day moving average price of $20.45. Comstock Resources, Inc. has a 1 year low of $14.65 and a 1 year high of $31.17.

Comstock Resources (NYSE:CRK) last released its earnings results on Monday, November 3rd. The oil and gas producer reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $449.85 million for the quarter, compared to analysts’ expectations of $433.54 million. Comstock Resources had a return on equity of 6.71% and a net margin of 3.14%.The business’s revenue for the quarter was up 47.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.17) EPS. Analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

CRK has been the topic of several recent research reports. Citigroup reaffirmed a “neutral” rating and issued a $25.00 price target (up previously from $24.00) on shares of Comstock Resources in a research report on Wednesday, January 14th. Bank of America cut Comstock Resources from a “buy” rating to a “neutral” rating and cut their target price for the company from $27.00 to $24.00 in a research report on Friday, January 16th. Morgan Stanley set a $20.00 price target on Comstock Resources and gave the stock an “equal weight” rating in a report on Friday. Zacks Research upgraded Comstock Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Piper Sandler reduced their target price on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, November 18th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $20.33.

Comstock Resources Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.