Amundi Trims Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Amundi lessened its holdings in Comstock Resources, Inc. (NYSE:CRK) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,085,365 shares of the oil and gas producer’s stock after selling 146,410 shares during the period. Amundi owned 0.37% of Comstock Resources worth $21,295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CRK. Sunbelt Securities Inc. lifted its holdings in shares of Comstock Resources by 140.0% in the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,400 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Comstock Resources by 225.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 2,326 shares during the period. KBC Group NV lifted its stake in shares of 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 during the period. Sanctuary Advisors LLC purchased a new position in shares of Comstock Resources during the third quarter valued at approximately $169,000. Finally, Blue Trust Inc. lifted its stake in shares of 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 valued at $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.

Comstock Resources Trading Down 1.7 %

NYSE CRK opened at $17.84 on Friday. Comstock Resources, Inc. has a 12 month low of $7.74 and a 12 month high of $22.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.46 and a quick ratio of 0.60. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of -23.47, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55. The company’s fifty day moving average price is $19.07 and its two-hundred day moving average price is $15.11.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. The company had revenue of $366.51 million for the quarter, compared to the consensus estimate of $370.62 million. As a group, research analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Transactions 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. In the last three months, insiders have sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CRK has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on shares of Comstock Resources in a research note on Friday, January 10th. They set an “equal weight” rating and a $18.00 price objective on the stock. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research note on Thursday, February 20th. Truist Financial increased their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Citigroup increased their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Mizuho raised shares of 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, December 16th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Comstock Resources currently has a consensus rating of “Hold” and an average target price of $13.36.

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.