Comstock Resources, Inc. $CRK Shares Sold by Doliver Advisors LP

Doliver Advisors LP decreased its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 14.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,353 shares of the oil and gas producer’s stock after selling 3,383 shares during the quarter. Doliver Advisors LP’s holdings in Comstock Resources were worth $535,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of Comstock Resources by 79.9% during the first quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer’s stock valued at $23,507,000 after acquiring an additional 513,190 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Comstock Resources by 67.4% during the first 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. Principal Financial Group Inc. boosted its holdings in shares of Comstock Resources by 2.7% during the first quarter. Principal Financial Group Inc. now owns 451,327 shares of the oil and gas producer’s stock valued at $9,180,000 after acquiring an additional 11,857 shares during the period. Woodline Partners LP acquired a new position in shares of Comstock Resources during the first quarter valued at $8,719,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Comstock Resources by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 287,298 shares of the oil and gas producer’s stock valued at $5,844,000 after acquiring an additional 61,581 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Performance

CRK stock opened at $15.97 on Friday. The company has a market capitalization of $4.68 billion, a P/E ratio of -66.54 and a beta of 0.27. The company has a 50-day simple moving average of $18.14 and a 200 day simple moving average of $20.56. Comstock Resources, Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $31.17. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The business had revenue of $470.26 million during the quarter, compared to the consensus estimate of $431.82 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was up 90.5% compared to the same quarter last year. Sell-side analysts predict that Comstock Resources, Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup reissued a “neutral” rating and set a $27.00 price target (up previously from $22.00) on shares of Comstock Resources in a report on Friday, June 13th. Bank of America upped their price objective on shares of Comstock Resources from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. UBS Group reduced their price objective on shares of Comstock Resources from $18.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday, August 20th. Roth Capital downgraded shares of Comstock Resources from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $18.00 to $12.00 in a report on Monday, August 18th. Finally, Wolfe Research raised shares of Comstock Resources from a “peer perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a report on Tuesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Comstock Resources presently has a consensus rating of “Reduce” and a consensus price target of $18.25.

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.