Comstock Resources, Inc. $CRK Shares Sold by Corigliano Investment Advisers LLC

Corigliano Investment Advisers LLC lessened its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 83.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 46,400 shares of the oil and gas producer’s stock after selling 230,300 shares during the quarter. Corigliano Investment Advisers LLC’s holdings in Comstock Resources were worth $1,076,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Great Hill Capital LLC acquired a new position in shares of Comstock Resources in the 3rd quarter worth approximately $4,075,000. LSP Investment Advisors LLC increased its holdings in Comstock Resources by 33.9% in the 3rd quarter. LSP Investment Advisors LLC now owns 378,900 shares of the oil and gas producer’s stock valued at $7,514,000 after purchasing an additional 95,900 shares during the last quarter. Aventail Capital Group LP raised its position in Comstock Resources by 149.9% in the third 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 purchasing an additional 686,002 shares during the period. BW Gestao de Investimentos Ltda. purchased a new stake in Comstock Resources in the third quarter valued at approximately $1,144,000. Finally, SG Americas Securities LLC lifted its stake in Comstock Resources by 1,200.3% during the fourth quarter. SG Americas Securities LLC now owns 331,937 shares of the oil and gas producer’s stock worth $7,694,000 after purchasing an additional 306,410 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Price Performance

Shares of CRK opened at $13.12 on Thursday. Comstock Resources, Inc. has a fifty-two week low of $12.44 and a fifty-two week high of $31.17. The firm’s 50 day moving average price is $15.16 and its 200 day moving average price is $19.48. The company has a market cap of $3.85 billion, a P/E ratio of 5.99 and a beta of 0.13. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.96.

Comstock Resources (NYSE:CRK) last issued its quarterly 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 return on equity of 5.54% and a net margin of 27.18%.The company had revenue of $587.35 million for the quarter, compared to analysts’ expectations of $554.02 million. During the same quarter last year, the company earned $0.18 EPS. Comstock Resources’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, research analysts forecast that Comstock Resources, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Comstock Resources in a report on Wednesday, May 20th. Wall Street Zen downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Mizuho cut their price objective on Comstock Resources from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Morgan Stanley cut their price objective on Comstock Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, May 22nd. Finally, UBS Group reiterated a “sell” rating and issued a $13.00 price objective (down from $17.00) on shares of Comstock Resources in a report on Monday, May 11th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Comstock Resources presently has a consensus rating of “Reduce” and an average target price of $17.00.

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.