Vanguard Group Inc. Sells 112,691 Shares of Comstock Resources, Inc. $CRK

Vanguard Group Inc. lowered its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 8,443,068 shares of the oil and gas producer’s stock after selling 112,691 shares during the period. Vanguard Group Inc.’s holdings in Comstock Resources were worth $195,710,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Great Hill Capital LLC acquired a new stake in Comstock Resources during the third quarter worth approximately $4,075,000. Federated Hermes Inc. grew its stake in Comstock Resources by 10,032.7% during the third quarter. Federated Hermes Inc. now owns 359,307 shares of the oil and gas producer’s stock worth $7,125,000 after purchasing an additional 355,761 shares during the period. GSA Capital Partners LLP acquired a new stake in Comstock Resources during the third quarter worth approximately $2,395,000. LSP Investment Advisors LLC grew its stake in Comstock Resources by 33.9% during the third quarter. LSP Investment Advisors LLC now owns 378,900 shares of the oil and gas producer’s stock worth $7,514,000 after purchasing an additional 95,900 shares during the period. Finally, Aventail Capital Group LP grew its stake in Comstock Resources by 149.9% during the third quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock worth $22,680,000 after purchasing an additional 686,002 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

Insider Buying and Selling

In other Comstock Resources news, VP Patrick Mcgough sold 48,915 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $21.20, for a total value of $1,036,998.00. Following the completion of the sale, the vice president owned 187,516 shares of the company’s stock, valued at approximately $3,975,339.20. This trade represents a 20.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.

Comstock Resources Trading Up 0.2%

Shares of Comstock Resources stock opened at $14.13 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.41 and a current ratio of 0.41. Comstock Resources, Inc. has a 52 week low of $14.10 and a 52 week high of $31.17. The stock has a 50 day moving average price of $19.13 and a two-hundred day moving average price of $21.12. The stock has a market capitalization of $4.15 billion, a PE ratio of 6.45 and a beta of 0.22.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The firm had revenue of $587.35 million during the quarter, compared to analyst estimates of $554.02 million. During the same period last year, the business posted $0.18 EPS. The company’s revenue was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that Comstock Resources, Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on CRK shares. UBS Group set a $17.00 target price on Comstock Resources in a research note on Friday, February 13th. Morgan Stanley set a $19.00 target price on Comstock Resources in a research note on Friday, February 13th. Citigroup reaffirmed a “neutral” rating on shares of Comstock Resources in a research note on Wednesday, April 15th. Bank of America cut Comstock Resources from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $27.00 to $24.00 in a research note on Friday, January 16th. Finally, Wall Street Zen cut Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Comstock Resources currently has a consensus rating of “Reduce” and an average target price of $20.88.

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.