3,104 Shares in Comstock Resources, Inc. (NYSE:CRK) Bought by Blue Trust Inc.

Blue Trust Inc. bought a new stake in Comstock Resources, Inc. (NYSE:CRK) during the second quarter, HoldingsChannel reports. The fund bought 3,104 shares of the oil and gas producer’s stock, valued at approximately $32,000.

A number of other large investors have also added to or reduced their stakes in CRK. ProShare Advisors LLC raised its stake in shares of Comstock Resources by 7.4% during the first quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock worth $172,000 after acquiring an additional 1,276 shares in the last quarter. GAMMA Investing LLC raised its position in Comstock Resources by 27.5% in the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 1,312 shares during the period. Simplicity Wealth LLC lifted its stake in Comstock Resources by 5.7% in the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock worth $296,000 after purchasing an additional 1,552 shares during the last quarter. Outfitter Financial LLC boosted its position in Comstock Resources by 5.0% during the fourth quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer’s stock valued at $304,000 after buying an additional 1,630 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Comstock Resources by 5.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,381 shares of the oil and gas producer’s stock valued at $366,000 after buying an additional 2,310 shares during the period. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Drilling L.P. Arkoma bought 1,044,200 shares of Comstock Resources stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $10.96 per share, for a total transaction of $11,444,432.00. Following the acquisition, the insider now owns 206,583,546 shares of the company’s stock, valued at $2,264,155,664.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 825,868 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $8.82 per share, for a total transaction of $7,284,155.76. Following the purchase, the insider now directly owns 197,298,165 shares in the company, valued at $1,740,169,815.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Drilling L.P. Arkoma purchased 1,044,200 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were acquired at an average cost of $10.96 per share, with a total value of $11,444,432.00. Following the completion of the transaction, the insider now owns 206,583,546 shares in the company, valued at $2,264,155,664.16. The disclosure for this purchase can be found here. Insiders purchased a total of 6,120,487 shares of company stock valued at $60,982,332 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CRK. The Goldman Sachs Group boosted their target price on Comstock Resources from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Tuesday, May 28th. Truist Financial boosted their price objective on Comstock Resources from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Mizuho raised their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the stock an “underperform” rating in a report on Monday, May 13th. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a report on Monday, April 29th. Finally, Wolfe Research assumed coverage on shares of Comstock Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.75.

Comstock Resources Price Performance

Shares of Comstock Resources stock opened at $11.43 on Friday. The company has a market cap of $3.34 billion, a PE ratio of 51.95 and a beta of 0.51. The business has a 50 day moving average of $10.33 and a 200 day moving average of $9.80. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $13.39. The company has a quick ratio of 0.64, a current ratio of 0.59 and a debt-to-equity ratio of 1.21.

Comstock Resources (NYSE:CRK) last posted 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). The company had revenue of $246.80 million during the quarter, compared to analysts’ expectations of $296.02 million. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. As a group, equities research analysts forecast that Comstock Resources, Inc. will post -0.13 earnings per share for the current year.

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.