Comstock Resources, Inc. (NYSE:CRK) Stock Position Lessened by South Dakota Investment Council

South Dakota Investment Council decreased its stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 94.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,707 shares of the oil and gas producer's stock after selling 454,544 shares during the period. South Dakota Investment Council's holdings in Comstock Resources were worth $468,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Comstock Resources by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 439,470 shares of the oil and gas producer's stock worth $8,007,000 after acquiring an additional 12,257 shares during the last quarter. Savant Capital LLC increased its position in Comstock Resources by 43.8% during the 4th quarter. Savant Capital LLC now owns 14,800 shares of the oil and gas producer's stock worth $270,000 after purchasing an additional 4,506 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Comstock Resources by 25.4% in the fourth quarter. Bleakley Financial Group LLC now owns 31,955 shares of the oil and gas producer's stock valued at $582,000 after buying an additional 6,464 shares during the period. KBC Group NV lifted its position in 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 buying an additional 2,066 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Comstock Resources by 56.4% during the fourth quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer's stock worth $191,000 after buying an additional 3,787 shares during the period. Hedge funds and other institutional investors own 36.13% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRK. Piper Sandler raised their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the company an "underweight" rating in a research note on Wednesday, January 29th. Morgan Stanley started coverage on Comstock Resources in a research report on Friday, January 10th. They issued an "equal weight" rating and a $18.00 target price for the company. Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the company a "neutral" rating in a research note on Friday, December 6th. StockNews.com raised Comstock Resources to a "sell" rating in a research report on Thursday, February 20th. Finally, Mizuho raised shares of Comstock Resources from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.40.

Insider Activity at Comstock Resources

In other news, Director Elizabeth B. Davis sold 8,000 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.17, for a total value of $145,360.00. Following the transaction, the director now directly owns 99,632 shares in the company, valued at approximately $1,810,313.44. This trade represents a 7.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 38,000 shares of company stock valued at $634,660 over the last three months. 2.00% of the stock is owned by insiders.

Comstock Resources Stock Up 2.7 %

Shares of Comstock Resources stock traded up $0.48 on Friday, hitting $17.97. 2,020,867 shares of the company's stock traded hands, compared to its average volume of 2,522,968. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The firm's 50-day moving average is $18.92 and its 200 day moving average is $14.62. The stock has a market cap of $5.26 billion, a P/E ratio of -23.64, a PEG ratio of 1.65 and a beta of 0.48. Comstock Resources, Inc. has a 52-week low of $7.74 and a 52-week high of $22.06.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14. The company had revenue of $366.51 million during the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. Equities analysts anticipate that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

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.