Comstock Resources, Inc. (NYSE:CRK) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can increased its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 45.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,346 shares of the oil and gas producer’s stock after buying an additional 17,885 shares during the quarter. Bank of Montreal Can’s holdings in Comstock Resources were worth $641,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. purchased a new stake in Comstock Resources during the 2nd quarter valued at about $32,000. EverSource Wealth Advisors LLC boosted its position in Comstock Resources by 2,533.8% in 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 buying an additional 3,446 shares during the last quarter. GAMMA Investing LLC increased its holdings in Comstock Resources by 428.9% in the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 3,869 shares during the period. Hexagon Capital Partners LLC raised its position in Comstock Resources by 2,161.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 4,711 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Comstock Resources during the 1st quarter worth approximately $91,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Comstock Resources

In related news, major shareholder Drilling L.P. Arkoma purchased 592,246 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the purchase, the insider now owns 208,219,992 shares of the company’s stock, valued at $2,402,858,707.68. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Drilling L.P. Arkoma purchased 592,246 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was acquired at an average cost of $11.54 per share, for a total transaction of $6,834,518.84. Following the completion of the transaction, the insider now directly owns 208,219,992 shares of the company’s stock, valued at approximately $2,402,858,707.68. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Star Exploration Corp Blue bought 825,868 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $8.82 per share, with a total value of $7,284,155.76. Following the completion of the acquisition, the insider now owns 197,298,165 shares in the company, valued at $1,740,169,815.30. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 6,712,733 shares of company stock valued at $67,816,851 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Comstock Resources Price Performance

Comstock Resources stock opened at $12.09 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $3.53 billion, a PE ratio of 54.95 and a beta of 0.47. The business has a 50 day simple moving average of $10.39 and a 200-day simple moving average of $10.39. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $13.39.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The company had revenue of $246.80 million during the quarter, compared to analyst estimates of $296.02 million. Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. Comstock Resources’s quarterly revenue was down 14.4% on a year-over-year basis. On average, analysts anticipate that Comstock Resources, Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CRK shares. BMO Capital Markets increased their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Piper Sandler downgraded Comstock Resources from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $5.00 in a research report on Thursday, August 15th. Mizuho decreased their price objective on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Truist Financial upped their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, Wolfe Research started coverage on Comstock Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.93.

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.