Comstock Resources Inc (NYSE:CRK) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 2,340,000 shares, a drop of 13.0% from the August 30th total of 2,690,000 shares. Based on an average trading volume of 699,100 shares, the short-interest ratio is currently 3.3 days. Approximately 18.1% of the company’s stock are short sold.

In other news, VP Russell W. Romoser sold 6,319 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $9.36, for a total transaction of $59,145.84. Following the completion of the sale, the vice president now directly owns 58,489 shares in the company, valued at $547,457.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CRK. BlackRock Inc. lifted its holdings in Comstock Resources by 187.6% in the second quarter. BlackRock Inc. now owns 1,087,908 shares of the oil and gas producer’s stock worth $6,060,000 after acquiring an additional 709,665 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Comstock Resources during the second quarter valued at approximately $767,000. Vanguard Group Inc. raised its holdings in shares of Comstock Resources by 12.4% during the second quarter. Vanguard Group Inc. now owns 637,641 shares of the oil and gas producer’s stock valued at $3,552,000 after buying an additional 70,212 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Comstock Resources by 136.2% during the second quarter. BNP Paribas Arbitrage SA now owns 107,852 shares of the oil and gas producer’s stock valued at $601,000 after buying an additional 62,182 shares during the last quarter. Finally, ACR Alpine Capital Research LLC raised its holdings in shares of Comstock Resources by 11.1% during the second quarter. ACR Alpine Capital Research LLC now owns 553,035 shares of the oil and gas producer’s stock valued at $3,080,000 after buying an additional 55,251 shares during the last quarter. 3.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CRK stock traded down $0.11 during trading hours on Wednesday, hitting $6.76. 615,101 shares of the company were exchanged, compared to its average volume of 462,056. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.66 and a current ratio of 0.66. Comstock Resources has a one year low of $4.17 and a one year high of $10.70. The business’s 50-day simple moving average is $7.65 and its two-hundred day simple moving average is $6.28.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.12 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.10). Comstock Resources had a return on equity of 12.24% and a net margin of 16.09%. The company had revenue of $128.12 million for the quarter, compared to the consensus estimate of $127.90 million. Equities analysts anticipate that Comstock Resources will post 0.75 earnings per share for the current fiscal year.

Separately, Seaport Global Securities cut shares of Comstock Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $8.33.

Comstock Resources Company Profile

Comstock Resources, Inc and its subsidiaries engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. The company is headquartered in Frisco, Texas.

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