Rafferty Asset Management LLC Sells 15,300 Shares of Comstock Resources, Inc. (NYSE:CRK)

Rafferty Asset Management LLC lowered its stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,861 shares of the oil and gas producer's stock after selling 15,300 shares during the quarter. Rafferty Asset Management LLC's holdings in Comstock Resources were worth $2,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRK. VSM Wealth Advisory LLC purchased a new position in shares of Comstock Resources during the 4th quarter worth $27,000. Sterling Capital Management LLC raised 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 purchasing an additional 2,631 shares during the period. Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 2,326 shares during the last quarter. Quarry LP bought a new stake in Comstock Resources in the 4th quarter valued at $70,000. Finally, KBC Group NV increased its holdings in 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 acquiring an additional 2,066 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRK. Williams Trading set a $13.00 target price on shares of Comstock Resources in a report on Wednesday, March 5th. StockNews.com raised shares of Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Morgan Stanley reaffirmed a "cautious" rating and issued 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 issued a "neutral" rating and a $19.00 price target for the company. Finally, Mizuho boosted their price objective on shares of Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $15.32.

Comstock Resources Stock Down 2.3%

CRK stock opened at $23.69 on Tuesday. The firm's fifty day simple moving average is $20.02 and its 200-day simple moving average is $18.25. The company has a market capitalization of $6.94 billion, a P/E ratio of -31.17, a price-to-earnings-growth ratio of 1.65 and a beta of 0.14. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. Comstock Resources, Inc. has a 12 month low of $7.74 and a 12 month high of $24.48.

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

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.

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