The Manufacturers Life Insurance Company Buys 1,656 Shares of Comstock Resources, Inc. (NYSE:CRK)

The Manufacturers Life Insurance Company grew its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,876 shares of the oil and gas producer’s stock after acquiring an additional 1,656 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Comstock Resources were worth $601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. bought a new position in Comstock Resources in the 2nd quarter valued at approximately $32,000. EverSource Wealth Advisors LLC boosted its position in shares of Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 3,446 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Comstock Resources by 428.9% during 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 during the last quarter. Hexagon Capital Partners LLC increased its holdings in 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 purchased a new position in Comstock Resources in the 1st quarter worth about $91,000. 36.13% of the stock is currently owned by institutional investors.

Insider Transactions at Comstock Resources

In other news, major shareholder Drilling L.P. Arkoma bought 592,246 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were bought at an average cost of $11.54 per share, for a total transaction of $6,834,518.84. Following the completion of the transaction, the insider now owns 208,219,992 shares of the company’s stock, valued at approximately $2,402,858,707.68. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Drilling L.P. Arkoma bought 592,246 shares of Comstock Resources stock in a transaction dated Monday, August 26th. The shares were acquired at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the completion of the transaction, the insider now owns 208,219,992 shares in the company, valued at $2,402,858,707.68. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the acquisition, the insider now directly owns 195,646,429 shares of the company’s stock, valued at $1,596,474,860.64. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 6,712,733 shares of company stock valued at $67,816,851. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BMO Capital Markets raised their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Friday, October 4th. 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 report on Monday, September 16th. Wolfe Research assumed coverage on shares of Comstock Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. KeyCorp started coverage on Comstock Resources in a research note on Thursday, June 27th. They issued a “sector weight” rating on the stock. Finally, Truist Financial upped 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. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.79.

Comstock Resources Stock Down 4.1 %

Shares of CRK stock opened at $11.36 on Wednesday. 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 company’s fifty day moving average price is $10.64 and its 200-day moving average price is $10.48. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 51.64 and a beta of 0.47. Comstock Resources, Inc. has a one year low of $7.07 and a one year high of $13.39.

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

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.