SBI Securities Co. Ltd. Sells 2,834 Shares of Comstock Resources, Inc. (NYSE:CRK)

SBI Securities Co. Ltd. cut its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 19.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,094 shares of the oil and gas producer’s stock after selling 2,834 shares during the period. SBI Securities Co. Ltd.’s holdings in Comstock Resources were worth $246,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Comstock Resources by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,297,863 shares of the oil and gas producer’s stock worth $242,301,000 after purchasing an additional 227,638 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Comstock Resources by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer’s stock worth $168,043,000 after buying an additional 126,380 shares during the last quarter. Raymond James Financial Inc. bought a new position in Comstock Resources during the fourth quarter worth $11,891,000. Corigliano Investment Advisers LLC acquired a new position in shares of Comstock Resources during the fourth quarter valued at $11,450,000. Finally, Principal Financial Group Inc. grew its holdings in Comstock Resources by 2.7% during the first quarter. Principal Financial Group Inc. now owns 451,327 shares of the oil and gas producer’s stock worth $9,180,000 after acquiring an additional 11,857 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Price Performance

Comstock Resources stock opened at $23.28 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.40 and a current ratio of 0.40. Comstock Resources, Inc. has a 1 year low of $7.74 and a 1 year high of $31.17. The firm has a 50 day moving average price of $24.95 and a 200 day moving average price of $21.19. The company has a market cap of $6.82 billion, a price-to-earnings ratio of -20.97 and a beta of 0.37.

Comstock Resources (NYSE:CRK) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Comstock Resources had a negative net margin of 23.39% and a negative return on equity of 0.67%. The firm had revenue of $512.85 million for the quarter, compared to analysts’ expectations of $408.99 million. During the same quarter last year, the company earned ($0.03) EPS. Comstock Resources’s quarterly revenue was up 52.7% on a year-over-year basis. Sell-side analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. UBS Group reiterated a “sell” rating and set a $20.00 price target (up from $19.00) on shares of Comstock Resources in a report on Thursday, July 10th. Mizuho lifted their target price on Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Wall Street Zen raised Comstock Resources to a “sell” rating in a report on Thursday, May 8th. Citigroup restated a “neutral” rating and set a $27.00 price objective (up from $22.00) on shares of Comstock Resources in a research report on Friday, June 13th. Finally, Wolfe Research upgraded Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Tuesday, June 17th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Comstock Resources has an average rating of “Hold” and a consensus target price of $19.82.

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.