Comstock Resources, Inc. (NYSE:CRK) Shares Sold by South Dakota Investment Council

South Dakota Investment Council reduced its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 94.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 25,707 shares of the oil and gas producer’s stock after selling 454,544 shares during the quarter. South Dakota Investment Council’s holdings in Comstock Resources were worth $468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new position in shares of Comstock Resources in the third quarter valued at $25,000. Sunbelt Securities Inc. raised its position in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,400 shares during the period. Blue Trust Inc. lifted its holdings in shares of Comstock Resources by 116.3% during the third quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 3,611 shares during the last quarter. KBC Group NV lifted its holdings in shares of Comstock Resources by 46.8% during 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 last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Comstock Resources in the 3rd quarter valued at $169,000. 36.13% of the stock is currently owned by institutional investors.

Comstock Resources Price Performance

CRK opened at $19.08 on Tuesday. 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, Inc. has a 1 year low of $7.74 and a 1 year high of $22.06. The stock has a fifty day moving average price of $18.76 and a 200 day moving average price of $14.51. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of -25.10, a PEG ratio of 1.65 and a beta of 0.48.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. The business had revenue of $366.51 million during the quarter, compared to analysts’ expectations of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. Analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the sale, the director now owns 99,632 shares of the company’s stock, valued at $1,810,313.44. The trade was a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 38,000 shares of company stock valued at $634,660 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CRK shares. Bank of America assumed coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 price objective on the stock. Piper Sandler boosted their price target on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research note on Thursday, February 20th. Morgan Stanley began coverage on shares of Comstock Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $18.00 target price on the stock. Finally, Citigroup raised their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.40.

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.