Rhumbline Advisers Sells 12,719 Shares of Comstock Resources, Inc. (NYSE:CRK)

Rhumbline Advisers cut its stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 268,515 shares of the oil and gas producer's stock after selling 12,719 shares during the quarter. Rhumbline Advisers owned about 0.09% of Comstock Resources worth $5,462,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Comstock Resources during the fourth quarter worth about $11,891,000. Corigliano Investment Advisers LLC bought a new stake in shares of Comstock Resources in the 4th quarter valued at about $11,450,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Comstock Resources in the 4th quarter valued at about $6,349,000. Marshall Wace LLP bought a new stake in shares of Comstock Resources in the 4th quarter valued at about $6,329,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Comstock Resources in the 4th quarter valued at about $4,430,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CRK. Piper Sandler reaffirmed an "underweight" rating and set a $12.00 price target (up previously from $6.00) on shares of Comstock Resources in a research report on Tuesday, May 13th. Wall Street Zen upgraded Comstock Resources to a "sell" rating in a research note on Thursday, May 8th. Bank of America lifted their target price on Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Morgan Stanley reissued a "cautious" rating and issued a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Finally, UBS Group began coverage on Comstock Resources in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $19.00 target price for the company. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.30.

Comstock Resources Stock Performance

Comstock Resources stock traded down $0.32 during trading on Friday, reaching $25.30. The company had a trading volume of 2,511,658 shares, compared to its average volume of 2,540,050. Comstock Resources, Inc. has a 52 week low of $7.74 and a 52 week high of $26.16. The firm's 50-day simple moving average is $21.74 and its 200 day simple moving average is $19.55. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of -33.29, a price-to-earnings-growth ratio of 1.65 and a beta of 0.32. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The business 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 3.10% and a negative net margin of 18.32%. The business's quarterly revenue was up 52.7% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. Sell-side analysts forecast 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.