Edgestream Partners L.P. Makes New $1.65 Million Investment in Comstock Resources, Inc. (NYSE:CRK)

Edgestream Partners L.P. acquired a new stake in Comstock Resources, Inc. (NYSE:CRK) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 159,001 shares of the oil and gas producer’s stock, valued at approximately $1,650,000. Edgestream Partners L.P. owned about 0.05% of Comstock Resources as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CRK. ProShare Advisors LLC increased its stake in Comstock Resources by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock valued at $172,000 after buying an additional 1,276 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Comstock Resources by 27.5% in the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,312 shares during the last quarter. Simplicity Wealth LLC raised its holdings in Comstock Resources by 5.7% during the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock worth $296,000 after acquiring an additional 1,552 shares in the last quarter. Arizona State Retirement System boosted its position in Comstock Resources by 6.9% during the second quarter. Arizona State Retirement System now owns 28,630 shares of the oil and gas producer’s stock valued at $297,000 after purchasing an additional 1,848 shares during the last quarter. Finally, Outfitter Financial LLC grew its stake in Comstock Resources by 5.5% in the first quarter. Outfitter Financial LLC now owns 36,200 shares of the oil and gas producer’s stock valued at $336,000 after purchasing an additional 1,900 shares in the last quarter. Institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Performance

Shares of CRK opened at $10.14 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 current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The firm’s fifty day simple moving average is $10.11 and its two-hundred day simple moving average is $10.09. The stock has a market capitalization of $2.96 billion, a P/E ratio of 46.07 and a beta of 0.48.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The firm had revenue of $246.80 million during the quarter, compared to the consensus estimate of $296.02 million. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. As a group, analysts predict that Comstock Resources, Inc. will post -0.33 EPS for the current year.

Insider Transactions at Comstock Resources

In related news, major shareholder Drilling L.P. Arkoma bought 573,453 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $10.64 per share, with a total value of $6,101,539.92. Following the completion of the transaction, the insider now directly owns 203,450,946 shares in the company, valued at $2,164,718,065.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Star Exploration Corp Blue bought 825,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the transaction, 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 link. Also, major shareholder Drilling L.P. Arkoma bought 573,453 shares of Comstock Resources stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $10.64 per share, with a total value of $6,101,539.92. Following the completion of the acquisition, the insider now owns 203,450,946 shares of the company’s stock, valued at $2,164,718,065.44. The disclosure for this purchase can be found here. Insiders purchased a total of 6,712,733 shares of company stock valued at $67,816,851 over the last ninety days. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

CRK has been the topic of a number of analyst reports. Wolfe Research assumed coverage on Comstock Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. KeyCorp began coverage on shares of Comstock Resources in a research note on Thursday, June 27th. They set a “sector weight” rating on the stock. Mizuho dropped 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. Truist Financial boosted their price target on Comstock Resources from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group increased their price target on Comstock Resources from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Tuesday, May 28th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Comstock Resources currently has a consensus rating of “Hold” and an average target price of $9.58.

Comstock Resources Company 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.