Comstock Resources, Inc. (NYSE:CRK) Position Trimmed by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 21.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,252 shares of the oil and gas producer’s stock after selling 11,792 shares during the period. SG Americas Securities LLC’s holdings in Comstock Resources were worth $788,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CRK. Bank of Montreal Can boosted its holdings in Comstock Resources by 45.3% during the second quarter. Bank of Montreal Can now owns 57,346 shares of the oil and gas producer’s stock worth $641,000 after buying an additional 17,885 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Comstock Resources by 285.9% during the second quarter. Squarepoint Ops LLC now owns 216,806 shares of the oil and gas producer’s stock worth $2,250,000 after buying an additional 160,619 shares in the last quarter. Millennium Management LLC lifted its position in shares of Comstock Resources by 775.4% in the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock valued at $9,086,000 after acquiring an additional 775,371 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Comstock Resources by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock valued at $601,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Comstock Resources in the 2nd quarter valued at approximately $107,000. 36.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on CRK. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price target for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a research report on Tuesday, October 15th. Truist Financial increased their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Bank of America began coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price for the company. Finally, BMO Capital Markets increased their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Comstock Resources currently has a consensus rating of “Hold” and an average price target of $13.40.

Comstock Resources Stock Performance

NYSE:CRK opened at $19.08 on Thursday. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $22.06. The firm’s fifty day simple moving average is $17.63 and its 200 day simple moving average is $13.35. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $5.57 billion, a PE ratio of -105.97, a PEG ratio of 2.53 and a beta of 0.51.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 earnings per share. On average, sell-side analysts anticipate that Comstock Resources, Inc. will post -0.39 EPS for the current year.

Insider Activity at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total transaction of $156,200.00. Following the completion of the sale, the director now owns 143,781 shares in the company, valued at $2,245,859.22. The trade was a 6.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 38,000 shares of company stock valued at $634,660 in the last ninety days. Insiders own 2.00% of the company’s stock.

About Comstock Resources

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.