Victory Capital Management Inc. Has $18.24 Million Stake in Comstock Resources, Inc. $CRK

Victory Capital Management Inc. reduced its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 9.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 919,827 shares of the oil and gas producer’s stock after selling 91,204 shares during the quarter. Victory Capital Management Inc. owned about 0.31% of Comstock Resources worth $18,240,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Uhlmann Price Securities LLC boosted its position in Comstock Resources by 2.4% in the 3rd quarter. Uhlmann Price Securities LLC now owns 27,653 shares of the oil and gas producer’s stock valued at $548,000 after buying an additional 650 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Comstock Resources by 1.7% during the third quarter. Illinois Municipal Retirement Fund now owns 48,276 shares of the oil and gas producer’s stock worth $957,000 after acquiring an additional 821 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Comstock Resources by 39.2% during the third quarter. Smartleaf Asset Management LLC now owns 3,085 shares of the oil and gas producer’s stock valued at $62,000 after acquiring an additional 868 shares during the period. Farther Finance Advisors LLC boosted its holdings in Comstock Resources by 19.0% in the third quarter. Farther Finance Advisors LLC now owns 5,633 shares of the oil and gas producer’s stock valued at $112,000 after acquiring an additional 900 shares during the last quarter. Finally, CWM LLC boosted its holdings in Comstock Resources by 32.1% in the third quarter. CWM LLC now owns 4,460 shares of the oil and gas producer’s stock valued at $88,000 after acquiring an additional 1,084 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Insiders Place Their Bets

In other news, VP Patrick Mcgough sold 48,915 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 187,516 shares of the company’s stock, valued at $3,975,339.20. This trade represents a 20.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on CRK shares. Bank of America cut Comstock Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $27.00 to $24.00 in a report on Friday, January 16th. Morgan Stanley set a $19.00 price target on shares of Comstock Resources in a research note on Friday, February 13th. Zacks Research upgraded shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comstock Resources in a report on Monday, December 29th. Finally, UBS Group set a $17.00 price target on Comstock Resources in a research note on Friday, February 13th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $21.00.

Comstock Resources Trading Down 2.4%

CRK opened at $19.61 on Wednesday. The firm’s fifty day simple moving average is $21.30 and its 200 day simple moving average is $20.84. The stock has a market capitalization of $5.76 billion, a P/E ratio of 13.90 and a beta of 0.40. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. Comstock Resources, Inc. has a 12 month low of $14.65 and a 12 month high of $31.17.

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

Comstock Resources Company Profile

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.