SG Americas Securities LLC Decreases Stock Position in Comstock Resources, Inc. (NYSE:CRK)

SG Americas Securities LLC reduced its stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 21.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,891 shares of the oil and gas producer's stock after selling 9,361 shares during the period. SG Americas Securities LLC's holdings in Comstock Resources were worth $689,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CRK. VSM Wealth Advisory LLC purchased a new position in shares of Comstock Resources in the fourth quarter worth about $27,000. Sterling Capital Management LLC grew its stake in Comstock Resources by 804.6% in 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 buying an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in 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 buying an additional 2,326 shares in the last quarter. Quarry LP bought a new stake in Comstock Resources during the 4th quarter valued at $70,000. Finally, GAMMA Investing LLC lifted its position in shares of Comstock Resources by 17.6% during the first quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer's stock worth $138,000 after acquiring an additional 1,017 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company's stock.

Comstock Resources Price Performance

NYSE CRK traded down $0.11 during trading hours on Tuesday, reaching $29.60. 2,654,135 shares of the stock traded hands, compared to its average volume of 2,509,717. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50 day simple moving average of $23.04 and a two-hundred day simple moving average of $20.19. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $31.17. The company has a market cap of $8.67 billion, a price-to-earnings ratio of -26.67 and a beta of 0.32.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The company had revenue of $512.85 million for the quarter, compared to analysts' expectations of $408.99 million. Comstock Resources had a negative return on equity of 0.67% and a negative net margin of 23.39%. Comstock Resources's revenue for the quarter was up 52.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. On average, analysts predict that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Bank of America lifted their target price on Comstock Resources from $25.00 to $27.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Wolfe Research raised shares of Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price target on the stock in a report on Tuesday, June 17th. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a research note on Wednesday, March 5th. Finally, Mizuho upped their target price on shares of Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Comstock Resources presently has an average rating of "Hold" and a consensus price target of $19.73.

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.