Aventail Capital Group LP Sells 748,206 Shares of Comstock Resources, Inc. $CRK

Aventail Capital Group LP lessened its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 65.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,515 shares of the oil and gas producer’s stock after selling 748,206 shares during the quarter. Aventail Capital Group LP owned 0.13% of Comstock Resources worth $9,168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Boothbay Fund Management LLC bought a new position in shares of Comstock Resources during the 4th quarter worth approximately $293,000. Freestone Grove Partners LP lifted its position in shares of Comstock Resources by 1,004.3% during the 4th quarter. Freestone Grove Partners LP now owns 381,202 shares of the oil and gas producer’s stock worth $8,836,000 after buying an additional 346,681 shares during the period. AQR Capital Management LLC lifted its position in shares of Comstock Resources by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 19,663 shares of the oil and gas producer’s stock worth $456,000 after buying an additional 6,447 shares during the period. Kovack Advisors Inc. bought a new position in shares of Comstock Resources during the 4th quarter worth approximately $2,711,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Comstock Resources by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 76,641 shares of the oil and gas producer’s stock worth $1,777,000 after buying an additional 2,220 shares during the period. Institutional investors own 36.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CRK shares. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Comstock Resources in a research report on Wednesday, May 20th. Williams Trading set a $16.00 target price on Comstock Resources in a research report on Thursday, May 14th. UBS Group restated a “sell” rating and set a $13.00 target price (down from $17.00) on shares of Comstock Resources in a research report on Monday, May 11th. Finally, Citigroup restated a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, April 15th. Six analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Comstock Resources presently has an average rating of “Reduce” and a consensus price target of $17.00.

Comstock Resources Trading Down 1.6%

CRK stock opened at $13.12 on Thursday. The business has a fifty day moving average price of $15.16 and a 200 day moving average price of $19.48. Comstock Resources, Inc. has a fifty-two week low of $12.44 and a fifty-two week high of $31.17. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 5.99 and a beta of 0.13. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.41.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The business had revenue of $587.35 million for the quarter, compared to analyst estimates of $554.02 million. During the same period in the prior year, the business earned $0.18 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts expect that Comstock Resources, Inc. will post 0.56 EPS for the current fiscal year.

Comstock Resources 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.