Susquehanna Fundamental Investments LLC Has $4.49 Million Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Susquehanna Fundamental Investments LLC raised its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 110.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 432,857 shares of the oil and gas producer’s stock after purchasing an additional 227,657 shares during the quarter. Susquehanna Fundamental Investments LLC owned approximately 0.15% of Comstock Resources worth $4,493,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. bought a new stake in shares of Comstock Resources in the 2nd quarter worth approximately $32,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 period. GAMMA Investing LLC lifted its position in shares of Comstock Resources by 428.9% during the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 3,869 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of 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 acquiring an additional 4,711 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Comstock Resources in the 1st quarter worth about $91,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wolfe Research started coverage on shares of Comstock Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial raised their price objective on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Mizuho lowered their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. KeyCorp initiated coverage on Comstock Resources in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Finally, Piper Sandler lowered Comstock Resources from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.58.

Insider Buying and Selling at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the purchase, the insider now directly owns 195,646,429 shares in the company, valued at $1,596,474,860.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the purchase, the insider now directly owns 195,646,429 shares in the company, valued at approximately $1,596,474,860.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Drilling L.P. Arkoma bought 825,868 shares of the business’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $9.76 per share, with a total value of $8,060,471.68. Following the purchase, the insider now owns 198,949,901 shares of the company’s stock, valued at $1,941,751,033.76. The disclosure for this purchase can be found here. Insiders purchased a total of 6,712,733 shares of company stock worth $67,816,851 over the last three months. 1.50% of the stock is owned by insiders.

Comstock Resources Trading Up 1.6 %

Shares of CRK stock opened at $11.10 on Monday. The company has a market capitalization of $3.24 billion, a PE ratio of 50.45 and a beta of 0.48. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $13.39. The business’s fifty day moving average is $10.19 and its 200 day moving average is $10.22. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.59.

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 for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The business had revenue of $246.80 million during the quarter, compared to analysts’ expectations of $296.02 million. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. On average, equities research analysts anticipate that Comstock Resources, Inc. will post -0.37 EPS for the current fiscal 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.