Aristeia Capital L.L.C. Sells 41,727 Shares of Comstock Resources, Inc. $CRK

Aristeia Capital L.L.C. lowered its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 14.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 240,038 shares of the oil and gas producer’s stock after selling 41,727 shares during the quarter. Aristeia Capital L.L.C. owned 0.08% of Comstock Resources worth $5,564,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CRK. Dragoneer Investment Group LLC purchased a new position in Comstock Resources during the 4th quarter valued at $99,632,000. Bank of America Corp DE lifted its stake in shares of Comstock Resources by 344.5% during the 2nd quarter. Bank of America Corp DE now owns 1,853,846 shares of the oil and gas producer’s stock worth $51,296,000 after purchasing an additional 1,436,746 shares during the last quarter. Gemsstock Ltd. purchased a new stake in shares of Comstock Resources during the 4th quarter worth $19,186,000. Aventail Capital Group LP increased its position in Comstock Resources by 149.9% during the 3rd quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock valued at $22,680,000 after buying an additional 686,002 shares in the last quarter. Finally, Man Group plc increased its position in Comstock Resources by 1,752.8% during the 3rd quarter. Man Group plc now owns 600,205 shares of the oil and gas producer’s stock valued at $11,902,000 after buying an additional 567,810 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Morgan Stanley reduced their target price on Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Friday, May 22nd. Williams Trading set a $16.00 target price on Comstock Resources in a report on Thursday, May 14th. Mizuho lowered their price target on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Comstock Resources in a research report on Wednesday, May 20th. Finally, Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Comstock Resources currently has a consensus rating of “Reduce” and an average target price of $17.00.

Comstock Resources Price Performance

NYSE:CRK opened at $13.12 on Thursday. Comstock Resources, Inc. has a 52 week low of $12.44 and a 52 week high of $31.17. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. The stock’s fifty day moving average is $15.16 and its two-hundred day moving average is $19.48. The company has a market capitalization of $3.85 billion, a P/E ratio of 5.99 and a beta of 0.13.

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

About Comstock Resources

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.