Comstock Resources, Inc. (NYSE:CRK) Major Shareholder Buys $7,284,155.76 in Stock

Comstock Resources, Inc. (NYSE:CRK) major shareholder Star Exploration Corp Blue purchased 825,868 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $8.82 per share, for a total transaction of $7,284,155.76. Following the completion of the acquisition, the insider now owns 197,298,165 shares of the company’s stock, valued at approximately $1,740,169,815.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Star Exploration Corp Blue also recently made the following trade(s):

• On Monday, August 5th, Star Exploration Corp Blue acquired 825,000 shares of Comstock Resources stock. The stock was acquired at an average cost of $8.16 per share, for a total transaction of $6,732,000.00.

Comstock Resources Stock Up 1.2 %

CRK opened at $9.76 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.64. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $13.39. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 44.34 and a beta of 0.51. The business has a 50-day moving average of $10.53 and a two-hundred day moving average of $9.59.

Comstock Resources (NYSE:CRK) last announced its 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 the consensus estimate of $296.02 million. Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The company’s revenue was down 14.4% on a year-over-year basis. On average, research analysts expect that Comstock Resources, Inc. will post -0.13 earnings per share for the current year.

Institutional Trading of Comstock Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in Comstock Resources by 26.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock valued at $121,414,000 after buying an additional 2,438,252 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Comstock Resources in the 1st quarter valued at about $5,643,000. Readystate Asset Management LP boosted its position in shares of Comstock Resources by 718.7% during the 4th quarter. Readystate Asset Management LP now owns 603,846 shares of the oil and gas producer’s stock valued at $5,344,000 after purchasing an additional 530,090 shares in the last quarter. American Century Companies Inc. boosted its holdings in Comstock Resources by 19.0% in the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock worth $23,567,000 after acquiring an additional 362,043 shares in the last quarter. Finally, CastleKnight Management LP purchased a new stake in Comstock Resources in the fourth quarter worth $3,167,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CRK shares. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Monday, April 29th. The Goldman Sachs Group increased their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “sell” rating in a research report on Tuesday, May 28th. Stifel Nicolaus cut their price target on Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Truist Financial increased their target price on Comstock Resources from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Finally, Wolfe Research initiated coverage on Comstock Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Comstock Resources currently has a consensus rating of “Hold” and a consensus price target of $10.25.

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.