Wellington Management Group LLP Lowers Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Wellington Management Group LLP decreased its stake in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 57.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,056,844 shares of the oil and gas producer's stock after selling 1,437,900 shares during the quarter. Wellington Management Group LLP owned approximately 0.36% of Comstock Resources worth $11,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Comstock Resources by 26.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer's stock worth $121,414,000 after buying an additional 2,438,252 shares in the last quarter. KGH Ltd raised its position in shares of Comstock Resources by 8.7% in the 2nd quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer's stock valued at $125,858,000 after purchasing an additional 975,000 shares during the last quarter. Millennium Management LLC raised its stake in Comstock Resources by 775.4% in the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer's stock worth $9,086,000 after acquiring an additional 775,371 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of Comstock Resources during the second quarter worth about $6,544,000. Finally, American Century Companies Inc. boosted its holdings in shares of Comstock Resources by 19.0% in the 2nd quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer's stock valued at $23,567,000 after acquiring an additional 362,043 shares during the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Down 4.1 %

CRK stock traded down $0.69 during mid-day trading on Monday, reaching $16.12. The company had a trading volume of 2,308,114 shares, compared to its average volume of 3,389,912. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $17.79. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of -89.53 and a beta of 0.57. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a fifty day simple moving average of $13.54 and a 200 day simple moving average of $11.62.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The business had revenue of $304.50 million during the quarter, compared to analysts' expectations of $308.75 million. During the same period last year, the company earned $0.04 EPS. The business's quarterly revenue was down 19.2% compared to the same quarter last year. Analysts forecast that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup raised their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the company a "neutral" rating in a research report on Friday, December 6th. Siebert Williams Shank downgraded Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price objective for the company. in a research note on Tuesday, October 15th. Bank of America began coverage on shares of Comstock Resources in a research note on Monday, October 28th. They issued a "buy" rating and a $14.00 target price on the stock. BMO Capital Markets boosted their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a research report on Friday, October 4th. Finally, Mizuho upgraded Comstock Resources from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $10.00 to $18.00 in a research report on Monday. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $11.78.

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.