Comerica Bank Sells 932 Shares of Comstock Resources, Inc. (NYSE:CRK)

Comerica Bank trimmed its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 33,967 shares of the oil and gas producer’s stock after selling 932 shares during the quarter. Comerica Bank’s holdings in Comstock Resources were worth $619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CRK. JPMorgan Chase & Co. lifted its position in shares of Comstock Resources by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer’s stock worth $1,896,000 after purchasing an additional 13,998 shares during the last quarter. Woodstock Corp lifted its position in shares of Comstock Resources by 50.0% during the fourth quarter. Woodstock Corp now owns 15,000 shares of the oil and gas producer’s stock worth $273,000 after purchasing an additional 5,000 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Comstock Resources by 56.4% in the fourth quarter. Blue Trust Inc. now owns 10,502 shares of the oil and gas producer’s stock valued at $191,000 after acquiring an additional 3,787 shares in the last quarter. KBC Group NV raised its holdings in shares of Comstock Resources by 46.8% in the fourth quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock valued at $118,000 after acquiring an additional 2,066 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of Comstock Resources by 25.4% in the fourth quarter. Bleakley Financial Group LLC now owns 31,955 shares of the oil and gas producer’s stock valued at $582,000 after acquiring an additional 6,464 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Thursday, May 8th. UBS Group assumed coverage on Comstock Resources in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $19.00 price objective for the company. Morgan Stanley restated a “cautious” rating and issued a $22.00 price objective (up from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Williams Trading set a $13.00 price objective on Comstock Resources in a report on Wednesday, March 5th. Finally, Mizuho lifted their price objective on Comstock Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.77.

Comstock Resources Price Performance

Shares of CRK stock opened at $23.71 on Thursday. Comstock Resources, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $24.13. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of -31.20, a PEG ratio of 1.65 and a beta of 0.14. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.60 and a current ratio of 0.46. The stock’s 50-day simple moving average is $19.65 and its 200-day simple moving average is $17.91.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The business had revenue of $512.85 million for the quarter, compared to analyst estimates of $408.99 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The company’s revenue was up 52.7% on a year-over-year basis. As a group, equities analysts forecast that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

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.