First Dallas Securities Inc. cut its stake in shares of Comstock Resources Inc (NYSE:CRK) by 37.0% during the 1st quarter, HoldingsChannel reports. The fund owned 30,200 shares of the oil and gas producer’s stock after selling 17,756 shares during the period. First Dallas Securities Inc.’s holdings in Comstock Resources were worth $209,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in Comstock Resources in the 4th quarter worth about $6,349,000. Barclays PLC increased its holdings in Comstock Resources by 775.8% in the 4th quarter. Barclays PLC now owns 370,507 shares of the oil and gas producer’s stock worth $1,679,000 after acquiring an additional 328,202 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Comstock Resources by 402.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 248,282 shares of the oil and gas producer’s stock worth $1,124,000 after acquiring an additional 198,846 shares during the last quarter. First Trust Advisors LP purchased a new stake in Comstock Resources in the 4th quarter worth about $619,000. Finally, TCG Advisors LP purchased a new stake in Comstock Resources in the 1st quarter worth about $913,000. Institutional investors and hedge funds own 6.87% of the company’s stock.
CRK has been the subject of several recent research reports. ValuEngine raised Comstock Resources from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Capital One Financial downgraded Comstock Resources from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, March 20th. Zacks Investment Research downgraded Comstock Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, B. Riley assumed coverage on Comstock Resources in a research report on Monday, May 20th. They issued a “neutral” rating and a $6.50 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Comstock Resources currently has a consensus rating of “Hold” and a consensus price target of $8.33.
Shares of CRK stock opened at $5.00 on Monday. Comstock Resources Inc has a twelve month low of $4.17 and a twelve month high of $12.32. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.17.
Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.05). The firm had revenue of $126.88 million during the quarter, compared to analysts’ expectations of $130.70 million. Comstock Resources had a return on equity of 14.66% and a net margin of 6.04%. On average, equities research analysts predict that Comstock Resources Inc will post 0.93 earnings per share for the current fiscal year.
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Comstock Resources Company Profile
Comstock Resources, Inc and its subsidiaries engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. The company is headquartered in Frisco, Texas.
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