SG Americas Securities LLC Has $613,000 Stock Position in Comstock Resources, Inc. (NYSE:CRK)

SG Americas Securities LLC raised its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 269.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,044 shares of the oil and gas producer’s stock after acquiring an additional 40,142 shares during the quarter. SG Americas Securities LLC’s holdings in Comstock Resources were worth $613,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CRK. Virtu Financial LLC grew its stake in shares of Comstock Resources by 537.8% during the 4th quarter. Virtu Financial LLC now owns 64,197 shares of the oil and gas producer’s stock worth $568,000 after acquiring an additional 54,132 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Comstock Resources by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer’s stock valued at $95,838,000 after buying an additional 34,231 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Comstock Resources by 428.9% in the first 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 in the last quarter. Chickasaw Capital Management LLC bought a new position in shares of Comstock Resources in the first quarter valued at $232,000. Finally, Sanders Morris Harris LLC bought a new position in shares of Comstock Resources in the first quarter valued at $1,717,000. 36.13% of the stock is owned by institutional investors.

Comstock Resources Stock Performance

Shares of CRK stock opened at $11.84 on Tuesday. The business’s 50 day simple moving average is $10.56 and its 200 day simple moving average is $10.46. Comstock Resources, Inc. has a one year low of $7.07 and a one year high of $13.39. The stock has a market capitalization of $3.46 billion, a PE ratio of 53.82 and a beta of 0.47. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.59.

Comstock Resources (NYSE:CRK) last announced its earnings results 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 the consensus estimate of $296.02 million. The company’s revenue was down 14.4% compared to the same quarter last year. As a group, research analysts forecast that Comstock Resources, Inc. will post -0.37 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the purchase, the insider now owns 195,646,429 shares in the company, valued at $1,596,474,860.64. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the purchase, the insider now owns 195,646,429 shares in the company, valued at $1,596,474,860.64. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Drilling L.P. Arkoma purchased 825,868 shares of the company’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $9.76 per share, for a total transaction of $8,060,471.68. Following the completion of the purchase, the insider now owns 198,949,901 shares of the company’s stock, valued at approximately $1,941,751,033.76. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 6,712,733 shares of company stock valued at $67,816,851. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CRK shares. BMO Capital Markets lifted 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 report on Friday, October 4th. KeyCorp started coverage on Comstock Resources in a report on Thursday, June 27th. They set a “sector weight” rating for the company. Mizuho dropped their price target on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. Piper Sandler downgraded Comstock Resources from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Finally, Wolfe Research started coverage on Comstock Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.93.

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.