Ameriprise Financial Inc. Cuts Position in Comstock Resources, Inc. (NYSE:CRK)

Ameriprise Financial Inc. lessened its holdings in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,475 shares of the oil and gas producer's stock after selling 13,577 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.07% of Comstock Resources worth $3,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC acquired a new stake in Comstock Resources during the 4th quarter worth $27,000. Sterling Capital Management LLC boosted its position in shares of Comstock Resources by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer's stock valued at $54,000 after acquiring an additional 2,631 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Comstock Resources by 225.2% during 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 acquiring an additional 2,326 shares during the last quarter. Quarry LP acquired a new position in shares of Comstock Resources during the 4th quarter valued at about $70,000. Finally, KBC Group NV boosted its position in shares of Comstock Resources by 46.8% during the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer's stock valued at $118,000 after acquiring an additional 2,066 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Trading Down 0.8%

NYSE:CRK traded down $0.19 on Friday, reaching $23.29. 1,464,539 shares of the company's stock were exchanged, compared to its average volume of 2,559,331. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of -30.64, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14. The business has a fifty day moving average of $20.78 and a 200-day moving average of $18.88. Comstock Resources, Inc. has a 52-week low of $7.74 and a 52-week high of $24.70.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Morgan Stanley reissued a "cautious" rating and set a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. UBS Group assumed coverage on shares of Comstock Resources in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $19.00 price target on the stock. Mizuho boosted their price target on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, Williams Trading set a $13.00 price target on shares of Comstock Resources in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Comstock Resources currently has an average rating of "Hold" and a consensus target price of $17.15.

Comstock Resources 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.