Comstock Resources, Inc. (NYSE:CRK) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its position in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 50.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,778 shares of the oil and gas producer's stock after selling 11,100 shares during the quarter. Janney Montgomery Scott LLC's holdings in Comstock Resources were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Comstock Resources during the fourth quarter worth about $11,891,000. Corigliano Investment Advisers LLC acquired a new position in shares of Comstock Resources during the fourth quarter worth about $11,450,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Comstock Resources during the fourth quarter worth about $6,349,000. Marshall Wace LLP acquired a new position in shares of Comstock Resources during the fourth quarter worth about $6,329,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Comstock Resources by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer's stock worth $242,301,000 after purchasing an additional 227,638 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company's stock.

Wall Street Analysts Forecast Growth

CRK has been the subject of a number of analyst reports. Mizuho increased their price target on Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. UBS Group initiated coverage on Comstock Resources in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 price target for the company. Wolfe Research raised Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price target for the company in a report on Tuesday, June 17th. Morgan Stanley reissued a "cautious" rating and issued a $22.00 price target (up previously from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Finally, Citigroup reissued a "neutral" rating and issued a $27.00 price target (up previously from $22.00) on shares of Comstock Resources in a report on Friday, June 13th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $19.73.

Comstock Resources Stock Performance

Shares of Comstock Resources stock traded down $0.21 on Monday, reaching $23.80. 2,251,484 shares of the company were exchanged, compared to its average volume of 2,526,818. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.40 and a current ratio of 0.40. The company's 50-day moving average is $24.45 and its two-hundred day moving average is $20.86. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of -21.44 and a beta of 0.37. Comstock Resources, Inc. has a 1-year low of $7.74 and a 1-year high of $31.17.

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

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.