Comstock Resources, Inc. (NYSE:CRK) Stake Lessened by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC trimmed its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 61.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 953,251 shares of the oil and gas producer’s stock after selling 1,541,458 shares during the period. Encompass Capital Advisors LLC owned approximately 0.33% of Comstock Resources worth $17,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Comstock Resources by 1.7% in the fourth 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. grew its holdings in shares of Comstock Resources by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer’s stock valued at $168,043,000 after acquiring an additional 126,380 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Comstock Resources by 6.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,505,808 shares of the oil and gas producer’s stock worth $27,436,000 after acquiring an additional 91,988 shares during the last quarter. Royce & Associates LP boosted its position in Comstock Resources by 13.0% during the fourth quarter. Royce & Associates LP now owns 779,410 shares of the oil and gas producer’s stock valued at $14,201,000 after purchasing an additional 89,630 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Comstock Resources in the 4th quarter worth about $11,891,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Price Performance

Shares of Comstock Resources stock opened at $22.51 on Friday. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of -29.61, a P/E/G ratio of 1.65 and a beta of 0.14. The firm’s 50-day moving average price is $19.24 and its two-hundred day moving average price is $17.59. 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 $23.11.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. During the same period in the prior year, the company earned ($0.03) EPS. Comstock Resources’s revenue for the quarter was up 52.7% on a year-over-year basis. On average, equities analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRK. Morgan Stanley restated a “cautious” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Williams Trading set a $13.00 price objective on shares of Comstock Resources in a report on Wednesday, March 5th. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Thursday. Piper Sandler increased their price objective on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Finally, Truist Financial boosted their target price on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.23.

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.