Hodges Capital Management Inc. Sells 108,250 Shares of Comstock Resources, Inc. $CRK

Hodges Capital Management Inc. decreased its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 72.1% during the first quarter, HoldingsChannel.com reports. The firm owned 41,850 shares of the oil and gas producer’s stock after selling 108,250 shares during the period. Hodges Capital Management Inc.’s holdings in Comstock Resources were worth $882,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CRK. Rothschild Investment LLC lifted its holdings in shares of Comstock Resources by 740.4% in the fourth quarter. Rothschild Investment LLC now owns 1,143 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 1,007 shares in the last quarter. Advisory Services Network LLC bought a new stake in Comstock Resources during the 3rd quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Comstock Resources in the 1st quarter worth approximately $29,000. Kemnay Advisory Services Inc. purchased a new stake in Comstock Resources in the 4th quarter worth approximately $29,000. Finally, Hantz Financial Services Inc. boosted its holdings in Comstock Resources by 877.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,437 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 1,290 shares during the period. Institutional investors own 36.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CRK shares. Mizuho reduced their target price on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. UBS Group reissued a “sell” rating and issued a $13.00 price target (down from $17.00) on shares of Comstock Resources in a research note on Monday, May 11th. Morgan Stanley set a $16.00 price target on shares of Comstock Resources and gave the stock an “equal weight” rating in a report on Monday, June 29th. Wall Street Zen cut shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. Six analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $16.00.

Comstock Resources Stock Up 1.0%

CRK opened at $14.31 on Tuesday. Comstock Resources, Inc. has a 12 month low of $12.44 and a 12 month high of $28.10. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $14.30 and its 200-day moving average price is $18.53. The company has a market cap of $4.20 billion, a P/E ratio of 6.40 and a beta of 0.10.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.08). Comstock Resources had a net margin of 27.18% and a return on equity of 5.54%. The company had revenue of $587.35 million for the quarter, compared to analysts’ expectations of $554.01 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. On average, equities analysts expect that Comstock Resources, Inc. will post 0.53 EPS for the current 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.