Encompass Capital Advisors LLC Sells 1,541,458 Shares of Comstock Resources, Inc. (NYSE:CRK)

Encompass Capital Advisors LLC reduced its stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 61.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 953,251 shares of the oil and gas producer's stock after selling 1,541,458 shares during the quarter. Encompass Capital Advisors LLC owned 0.33% of Comstock Resources worth $17,368,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CRK. Bank of Montreal Can raised its position in shares of Comstock Resources by 1.9% in the 4th quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer's stock valued at $747,000 after purchasing an additional 772 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Comstock Resources in the 4th quarter valued at approximately $27,000. Natixis Advisors LLC raised its position in shares of Comstock Resources by 6.6% in the 4th quarter. Natixis Advisors LLC now owns 25,778 shares of the oil and gas producer's stock valued at $470,000 after purchasing an additional 1,585 shares in the last quarter. KBC Group NV raised its position in shares of Comstock Resources by 46.8% in the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer's stock valued at $118,000 after purchasing an additional 2,066 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Comstock Resources by 225.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 2,326 shares in the last quarter. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Comstock Resources Price Performance

NYSE:CRK traded up $0.05 during trading hours on Wednesday, reaching $23.70. 1,001,775 shares of the company were exchanged, compared to its average volume of 2,433,705. The company has a market capitalization of $6.94 billion, a P/E ratio of -31.18, a P/E/G ratio of 1.65 and a beta of 0.14. Comstock Resources, Inc. has a 1-year low of $7.74 and a 1-year high of $24.13. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The business has a 50 day moving average of $19.54 and a 200 day moving average of $17.87.

Comstock Resources (NYSE:CRK - Get Free Report) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The firm had revenue of $512.85 million during the quarter, compared to analysts' expectations of $408.99 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The company's quarterly revenue was up 52.7% on a year-over-year basis. Research analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Comstock Resources to a "sell" rating in a report on Thursday, May 8th. Mizuho upped their price objective on Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday. Piper Sandler reiterated an "underweight" rating on shares of Comstock Resources in a research report on Tuesday. UBS Group initiated coverage on Comstock Resources in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 price objective for the company. Finally, Morgan Stanley reissued a "cautious" rating and issued a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.77.

Comstock Resources Company 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.