Comstock Resources, Inc. (NYSE:CRK) Holdings Raised by Millennium Management LLC

Millennium Management LLC raised its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 775.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 875,371 shares of the oil and gas producer’s stock after buying an additional 775,371 shares during the period. Millennium Management LLC owned approximately 0.30% of Comstock Resources worth $9,086,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRK. Blue Trust Inc. acquired a new stake in shares of Comstock Resources in the 2nd quarter worth approximately $32,000. EverSource Wealth Advisors LLC boosted its stake in Comstock Resources by 2,533.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 3,446 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Comstock Resources by 428.9% during the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 3,869 shares during the period. Hexagon Capital Partners LLC raised its stake 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 worth $46,000 after buying an additional 4,711 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Comstock Resources in the 1st quarter worth $91,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Stock Performance

Shares of Comstock Resources stock opened at $12.09 on Wednesday. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $13.39. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The stock has a market cap of $3.53 billion, a PE ratio of 54.95 and a beta of 0.47. The business has a fifty day simple moving average of $10.39 and a 200-day simple moving average of $10.39.

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 analysts’ consensus estimates of ($0.16) by ($0.04). The business had revenue of $246.80 million for the quarter, compared to analyst estimates of $296.02 million. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The business’s revenue was down 14.4% on a year-over-year basis. On average, sell-side analysts anticipate that Comstock Resources, Inc. will post -0.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on CRK. Wolfe Research began coverage on Comstock Resources in a report 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 issued a “sector weight” rating on the stock. Mizuho cut their target price on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. BMO Capital Markets raised their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Finally, Truist Financial increased their price objective on Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.93.

Insider Activity at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue bought 825,868 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $8.82 per share, for a total transaction of $7,284,155.76. Following the transaction, the insider now directly owns 197,298,165 shares in the company, valued at $1,740,169,815.30. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Star Exploration Corp Blue bought 825,868 shares of the stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $8.82 per share, for a total transaction of $7,284,155.76. Following the completion of the purchase, the insider now directly owns 197,298,165 shares of the company’s stock, valued at $1,740,169,815.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Drilling L.P. Arkoma purchased 592,246 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the completion of the purchase, the insider now directly owns 208,219,992 shares in the company, valued at approximately $2,402,858,707.68. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 6,712,733 shares of company stock valued at $67,816,851. Corporate insiders own 1.50% of the company’s stock.

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.