South Dakota Investment Council Sells 160,600 Shares of Comstock Resources, Inc. (NYSE:CRK)

South Dakota Investment Council lowered its position in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 47.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,940 shares of the oil and gas producer's stock after selling 160,600 shares during the period. South Dakota Investment Council owned 0.06% of Comstock Resources worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund raised its stake in Comstock Resources by 12.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 59,392 shares of the oil and gas producer's stock worth $526,000 after purchasing an additional 6,742 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of Comstock Resources during the fourth quarter worth approximately $176,000. Louisiana State Employees Retirement System acquired a new stake in shares of Comstock Resources in the fourth quarter valued at approximately $407,000. Sapient Capital LLC bought a new stake in shares of Comstock Resources in the fourth quarter valued at approximately $201,000. Finally, Capital Square LLC grew its position in Comstock Resources by 191.8% during the fourth quarter. Capital Square LLC now owns 58,660 shares of the oil and gas producer's stock worth $519,000 after buying an additional 38,558 shares in the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Price Performance

Shares of CRK traded up $0.15 during trading hours on Thursday, reaching $10.30. The stock had a trading volume of 3,150,335 shares, compared to its average volume of 4,593,126. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.68 and a current ratio of 0.68. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $13.39. The stock has a market capitalization of $2.87 billion, a PE ratio of 13.49 and a beta of 0.70. The company's 50-day moving average is $8.72 and its two-hundred day moving average is $9.46.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The firm had revenue of $410.58 million during the quarter, compared to the consensus estimate of $401.97 million. During the same quarter in the prior year, the business posted $1.05 earnings per share. Comstock Resources's revenue for the quarter was down 55.5% compared to the same quarter last year. Research analysts expect that Comstock Resources, Inc. will post -0.06 EPS for the current year.

Analysts Set New Price Targets

CRK has been the subject of a number of recent analyst reports. Truist Financial cut their target price on Comstock Resources from $10.00 to $9.00 and set a "hold" rating for the company in a research report on Tuesday, February 13th. Mizuho decreased their target price on shares of Comstock Resources from $10.00 to $9.00 and set an "underperform" rating on the stock in a report on Monday, April 15th. The Goldman Sachs Group increased their price target on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a "sell" rating in a research report on Tuesday, April 2nd. Pickering Energy Partners upgraded shares of Comstock Resources from an "underperform" rating to a "neutral" rating in a research report on Tuesday, January 9th. Finally, StockNews.com raised Comstock Resources to a "sell" rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $9.75.

Insider Buying and Selling

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the business's stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of the acquisition, the insider now owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by corporate insiders.

Comstock Resources Company 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.