Wellington Management Group LLP Sells 1,437,900 Shares of Comstock Resources, Inc. (NYSE:CRK)

Wellington Management Group LLP reduced its position in Comstock Resources, Inc. (NYSE:CRK) by 57.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056,844 shares of the oil and gas producer’s stock after selling 1,437,900 shares during the quarter. Wellington Management Group LLP owned 0.36% of Comstock Resources worth $11,763,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new stake in Comstock Resources during the 3rd quarter valued at $25,000. Blue Trust Inc. purchased a new stake in shares of Comstock Resources during the 2nd quarter worth $32,000. EverSource Wealth Advisors LLC boosted its position in Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 3,446 shares in the last quarter. Choreo LLC purchased a new position in Comstock Resources in the second quarter valued at about $105,000. Finally, Algert Global LLC bought a new position in Comstock Resources in the second quarter worth about $107,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Comstock Resources Stock Down 4.5 %

Comstock Resources stock opened at $16.80 on Monday. The business’s 50-day simple moving average is $13.45 and its two-hundred day simple moving average is $11.59. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $4.91 billion, a PE ratio of -93.33 and a beta of 0.57. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $17.79.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The firm had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $308.75 million. During the same quarter in the prior year, the company earned $0.04 EPS. Comstock Resources’s quarterly revenue was down 19.2% on a year-over-year basis. Equities analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Bank of America assumed coverage on shares of Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 target price for the company. Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research report on Tuesday, October 15th. Mizuho lowered their price objective on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Finally, BMO Capital Markets upped their target price on Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.89.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.