New York State Teachers Retirement System Sells 8,799 Shares of Comstock Resources, Inc. (NYSE:CRK)

New York State Teachers Retirement System lowered its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 15.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 47,904 shares of the oil and gas producer’s stock after selling 8,799 shares during the period. New York State Teachers Retirement System’s holdings in Comstock Resources were worth $424,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in Comstock Resources by 214.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,716 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,851 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Comstock Resources by 80.0% during the third quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock worth $61,000 after acquiring an additional 2,445 shares during the period. Steward Financial Group LLC boosted its holdings in shares of Comstock Resources by 86.9% during the third quarter. Steward Financial Group LLC now owns 6,776 shares of the oil and gas producer’s stock worth $74,000 after acquiring an additional 3,151 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Comstock Resources during the third quarter worth approximately $80,000. Finally, Woodstock Corp bought a new stake in shares of Comstock Resources during the fourth quarter worth approximately $88,000. Institutional investors own 36.13% of the company’s stock.

Analyst Ratings Changes

CRK has been the subject of a number of research analyst reports. Mizuho reduced their price objective on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a report on Monday. The Goldman Sachs Group boosted their price objective on Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Tuesday, April 2nd. Piper Sandler reduced their price objective on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. Stifel Nicolaus cut their price target on Comstock Resources from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, Pickering Energy Partners upgraded Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Comstock Resources currently has a consensus rating of “Hold” and an average target price of $10.00.

Comstock Resources Stock Up 0.4 %

Shares of CRK opened at $9.23 on Friday. Comstock Resources, Inc. has a one year low of $7.07 and a one year high of $13.39. The company has a market cap of $2.57 billion, a P/E ratio of 12.14 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a 50 day simple moving average of $8.53 and a two-hundred day simple moving average of $9.50.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $401.97 million. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The firm’s revenue for the quarter was down 55.5% on a year-over-year basis. Research analysts forecast that Comstock Resources, Inc. will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of the transaction, the insider now directly 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 SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

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.