Two Sigma Investments LP Lowers Stake in Comstock Resources, Inc. (NYSE:CRK)

Two Sigma Investments LP lowered its stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 77.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,924 shares of the oil and gas producer's stock after selling 171,043 shares during the period. Two Sigma Investments LP's holdings in Comstock Resources were worth $910,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. VSM Wealth Advisory LLC acquired a new stake in Comstock Resources in the fourth quarter valued at about $27,000. Sterling Capital Management LLC lifted its position in Comstock Resources by 804.6% in the fourth 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 lifted its position in Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 2,326 shares during the period. Quarry LP acquired a new stake in Comstock Resources in the fourth quarter valued at about $70,000. Finally, KBC Group NV lifted its position in Comstock Resources by 46.8% in the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer's stock valued at $118,000 after purchasing an additional 2,066 shares during the period. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Price Performance

CRK traded down $0.23 during midday trading on Monday, reaching $24.24. 2,076,113 shares of the company's stock were exchanged, compared to its average volume of 2,542,108. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The stock has a market capitalization of $7.10 billion, a PE ratio of -31.89, a P/E/G ratio of 1.65 and a beta of 0.32. The business's 50-day moving average price is $21.22 and its 200 day moving average price is $19.32. Comstock Resources, Inc. has a 1-year low of $7.74 and a 1-year high of $25.05.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $408.99 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The firm's quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) earnings per share. As a group, equities analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. 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 objective for the company. Wall Street Zen upgraded shares of Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Piper Sandler restated an "underweight" rating and issued a $12.00 price objective (up previously from $6.00) on shares of Comstock Resources in a research report on Tuesday, May 13th. Morgan Stanley restated a "cautious" rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a research report on Wednesday, March 26th. Finally, Bank of America upped their target price on shares of Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $17.15.

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.