Algert Global LLC Invests $107,000 in Comstock Resources, Inc. (NYSE:CRK)

Algert Global LLC bought a new position in shares of Comstock Resources, Inc. (NYSE:CRK) in the second quarter, Holdings Channel reports. The firm bought 10,281 shares of the oil and gas producer’s stock, valued at approximately $107,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC lifted its position in Comstock Resources by 110.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 432,857 shares of the oil and gas producer’s stock valued at $4,493,000 after buying an additional 227,657 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Comstock Resources by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock valued at $601,000 after acquiring an additional 1,656 shares in the last quarter. Millennium Management LLC boosted its position in Comstock Resources by 775.4% during the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock worth $9,086,000 after purchasing an additional 775,371 shares during the period. Squarepoint Ops LLC boosted its position in Comstock Resources by 285.9% during the 2nd quarter. Squarepoint Ops LLC now owns 216,806 shares of the oil and gas producer’s stock worth $2,250,000 after purchasing an additional 160,619 shares during the period. Finally, HITE Hedge Asset Management LLC acquired a new stake in Comstock Resources in the 2nd quarter valued at $6,544,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Trading Up 2.9 %

CRK opened at $12.07 on Friday. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $13.39. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $3.53 billion, a PE ratio of 54.84 and a beta of 0.47. The firm’s fifty day moving average price is $10.56 and its 200 day moving average price is $10.44.

Comstock Resources (NYSE:CRK) last released its 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). The company had revenue of $246.80 million during the quarter, compared to the consensus estimate of $296.02 million. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. Comstock Resources’s quarterly revenue was down 14.4% on a year-over-year basis. As a group, research analysts expect that Comstock Resources, Inc. will post -0.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CRK shares. Truist Financial upped their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Mizuho lowered their price objective on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. BMO Capital Markets boosted their target price 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. Wolfe Research started coverage on shares of Comstock Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, KeyCorp assumed coverage on shares of Comstock Resources in a research note on Thursday, June 27th. They set a “sector weight” rating on the stock. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.93.

Insider Buying and Selling at Comstock Resources

In other news, major shareholder Drilling L.P. Arkoma bought 573,453 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $10.64 per share, for a total transaction of $6,101,539.92. Following the transaction, the insider now owns 203,450,946 shares in the company, valued at $2,164,718,065.44. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Comstock Resources news, major shareholder Drilling L.P. Arkoma purchased 573,453 shares of Comstock Resources stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $10.64 per share, for a total transaction of $6,101,539.92. Following the transaction, the insider now owns 203,450,946 shares in the company, valued at $2,164,718,065.44. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the acquisition, the insider now directly owns 195,646,429 shares in the company, valued at approximately $1,596,474,860.64. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 6,712,733 shares of company stock worth $67,816,851 over the last quarter. 1.50% of the stock is 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.