Comstock Resources, Inc. $CRK Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 22.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,845 shares of the oil and gas producer’s stock after selling 4,878 shares during the quarter. ProShare Advisors LLC’s holdings in Comstock Resources were worth $466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in Comstock Resources in the 2nd quarter worth approximately $29,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Comstock Resources during the second quarter worth $34,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Comstock Resources in the second quarter valued at $69,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Comstock Resources by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,236 shares of the oil and gas producer’s stock valued at $1,124,000 after purchasing an additional 2,697 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Comstock Resources by 14.6% in the second quarter. Envestnet Asset Management Inc. now owns 21,525 shares of the oil and gas producer’s stock valued at $596,000 after purchasing an additional 2,738 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Analyst Upgrades and Downgrades

CRK has been the topic of a number of research analyst reports. Zacks Research raised Comstock Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Piper Sandler decreased their target price on shares of Comstock Resources from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday. Morgan Stanley dropped their price target on shares of Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comstock Resources in a research note on Thursday, November 13th. Finally, Mizuho set a $21.00 price target on shares of Comstock Resources and gave the company a “neutral” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Comstock Resources currently has an average rating of “Reduce” and an average target price of $19.60.

Comstock Resources Stock Down 2.3%

CRK opened at $24.41 on Thursday. Comstock Resources, Inc. has a 1 year low of $14.09 and a 1 year high of $31.17. The firm has a 50 day moving average price of $19.85 and a 200 day moving average price of $20.94. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $7.15 billion, a PE ratio of -101.70 and a beta of 0.24.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The company had revenue of $449.85 million during the quarter, compared to the consensus estimate of $433.54 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. Comstock Resources’s revenue for the quarter was up 47.8% on a year-over-year basis. Sell-side analysts expect 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.