Comstock Resources, Inc. (NYSE:CRK) Shares Purchased by Goehring & Rozencwajg Associates LLC

Goehring & Rozencwajg Associates LLC lifted its position in Comstock Resources, Inc. (NYSE:CRK) by 27.8% in the second quarter, Holdings Channel reports. The firm owned 683,570 shares of the oil and gas producer’s stock after acquiring an additional 148,700 shares during the period. Goehring & Rozencwajg Associates LLC’s holdings in Comstock Resources were worth $7,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Comstock Resources by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,015,403 shares of the oil and gas producer’s stock valued at $8,986,000 after acquiring an additional 93,140 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Comstock Resources by 106.1% during the 4th quarter. BNP Paribas Financial Markets now owns 310,289 shares of the oil and gas producer’s stock worth $2,746,000 after buying an additional 159,757 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Comstock Resources by 29.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock worth $72,035,000 after buying an additional 1,833,302 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Comstock Resources by 2.4% during the 4th quarter. Principal Financial Group Inc. now owns 594,021 shares of the oil and gas producer’s stock worth $5,257,000 after buying an additional 13,753 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new position in shares of Comstock Resources during the 4th quarter worth approximately $1,665,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Comstock Resources

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma acquired 1,044,200 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $10.93 per share, for a total transaction of $11,413,106.00. Following the completion of the acquisition, the insider now directly owns 204,495,146 shares of the company’s stock, valued at $2,235,131,945.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Drilling L.P. Arkoma bought 1,044,200 shares of Comstock Resources stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average price of $10.93 per share, for a total transaction of $11,413,106.00. Following the completion of the acquisition, the insider now owns 204,495,146 shares of the company’s stock, valued at $2,235,131,945.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Star Exploration Corp Blue bought 825,868 shares of Comstock Resources stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $8.82 per share, for a total transaction of $7,284,155.76. Following the acquisition, the insider now directly owns 197,298,165 shares of the company’s stock, valued at approximately $1,740,169,815.30. The disclosure for this purchase can be found here. Insiders have acquired 6,712,733 shares of company stock worth $67,816,851 over the last quarter. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CRK shares. KeyCorp started coverage on Comstock Resources in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. 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 note on Tuesday, May 28th. Truist Financial raised their price objective on Comstock Resources from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Wolfe Research began coverage on Comstock Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Piper Sandler downgraded Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Comstock Resources has an average rating of “Hold” and an average price target of $9.58.

Comstock Resources Price Performance

CRK stock opened at $9.95 on Thursday. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $13.39. The stock’s fifty day simple moving average is $10.12 and its 200-day simple moving average is $10.09. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 45.23 and a beta of 0.48.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The business had revenue of $246.80 million for the quarter, compared to analyst estimates of $296.02 million. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. Equities research analysts expect that Comstock Resources, Inc. will post -0.33 EPS for the current year.

Comstock Resources Profile

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.