Dimensional Fund Advisors LP Sells 309,493 Shares of Comstock Resources, Inc. $CRK

Dimensional Fund Advisors LP trimmed its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,207,098 shares of the oil and gas producer’s stock after selling 309,493 shares during the period. Dimensional Fund Advisors LP’s holdings in Comstock Resources were worth $242,076,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of Comstock Resources by 344.5% in the second quarter. Bank of America Corp DE now owns 1,853,846 shares of the oil and gas producer’s stock worth $51,296,000 after buying an additional 1,436,746 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Comstock Resources by 67.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer’s stock valued at $22,107,000 after acquiring an additional 437,476 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Comstock Resources by 195.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 588,033 shares of the oil and gas producer’s stock worth $16,271,000 after acquiring an additional 389,261 shares during the last quarter. First Trust Advisors LP increased its stake in Comstock Resources by 21.3% in the 2nd quarter. First Trust Advisors LP now owns 465,554 shares of the oil and gas producer’s stock worth $12,882,000 after purchasing an additional 81,627 shares during the period. Finally, Goehring & Rozencwajg Associates LLC increased its stake in Comstock Resources by 0.3% in the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 409,788 shares of the oil and gas producer’s stock worth $8,126,000 after purchasing an additional 1,198 shares during the period. 36.13% of the stock is owned by institutional investors.

Insider Transactions at Comstock Resources

In other Comstock Resources news, VP Patrick Mcgough sold 48,915 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the transaction, the vice president directly owned 187,516 shares of the company’s stock, valued at approximately $3,975,339.20. The trade was a 20.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

Comstock Resources Trading Up 1.4%

NYSE CRK opened at $21.36 on Friday. The stock has a market cap of $6.28 billion, a P/E ratio of 15.15 and a beta of 0.40. Comstock Resources, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $31.17. The stock has a 50 day simple moving average of $21.47 and a two-hundred day simple moving average of $20.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.49.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. The firm had revenue of $787.32 million for the quarter, compared to analysts’ expectations of $504.66 million. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The business’s revenue was up 115.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 earnings per share. On average, analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on CRK shares. Citigroup reissued a “neutral” rating and set a $25.00 price objective (up from $24.00) on shares of Comstock Resources in a research note on Wednesday, January 14th. Mizuho lifted their target price on shares of Comstock Resources from $21.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. UBS Group set a $17.00 price target on shares of Comstock Resources in a report on Friday, February 13th. Zacks Research raised shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Morgan Stanley set a $19.00 price target on shares of Comstock Resources in a report on Friday, February 13th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Comstock Resources presently has an average rating of “Reduce” and an average price target of $21.00.

About Comstock Resources

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.