Amalgamated Bank Reduces Holdings in Comstock Resources, Inc. (NYSE:CRK)

Amalgamated Bank lowered its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,840 shares of the oil and gas producer’s stock after selling 1,038 shares during the period. Amalgamated Bank’s holdings in Comstock Resources were worth $299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. acquired a new position in Comstock Resources during the second quarter worth approximately $32,000. GAMMA Investing LLC grew its position in shares of Comstock Resources by 428.9% during the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 3,869 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Comstock Resources by 2,161.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 4,711 shares during the period. Headlands Technologies LLC purchased a new stake in Comstock Resources in the 1st quarter valued at $91,000. Finally, Choreo LLC acquired a new stake in Comstock Resources during the 2nd quarter worth $105,000. 36.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRK. KeyCorp started coverage on shares of Comstock Resources in a research note on Thursday, June 27th. They issued a “sector weight” rating on the stock. Wolfe Research initiated coverage on Comstock Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Piper Sandler downgraded Comstock Resources from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Truist Financial upped their price target on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Mizuho lowered their price objective on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Comstock Resources presently has a consensus rating of “Hold” and a consensus price target of $9.75.

Comstock Resources Trading Up 0.3 %

NYSE:CRK opened at $11.13 on Tuesday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 50.59 and a beta of 0.48. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $13.39. The stock has a fifty day moving average price of $10.19 and a two-hundred day moving average price of $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 announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) EPS 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 company had revenue of $246.80 million during the quarter, compared to analyst estimates of $296.02 million. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Comstock Resources, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at Comstock Resources

In other news, major shareholder Drilling L.P. Arkoma acquired 825,868 shares of Comstock Resources stock in a transaction that occurred 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 completion of the acquisition, the insider now owns 198,949,901 shares in the company, valued at approximately $1,941,751,033.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Comstock Resources news, major shareholder Drilling L.P. Arkoma acquired 825,868 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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 in the company, valued at $1,941,751,033.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Star Exploration Corp Blue bought 825,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the transaction, the insider now owns 195,646,429 shares of the company’s stock, valued at approximately $1,596,474,860.64. The disclosure for this purchase can be found here. Insiders have bought 6,712,733 shares of company stock valued at $67,816,851 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

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.