Bank of Montreal Can Buys 17,885 Shares of Comstock Resources, Inc. (NYSE:CRK)

Bank of Montreal Can raised its position in shares of Comstock Resources, Inc. (NYSE:CRK) by 45.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,346 shares of the oil and gas producer’s stock after acquiring an additional 17,885 shares during the period. Bank of Montreal Can’s holdings in Comstock Resources were worth $641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Foundry Partners LLC grew its holdings in Comstock Resources by 11.8% during the 1st quarter. Foundry Partners LLC now owns 469,512 shares of the oil and gas producer’s stock valued at $4,357,000 after purchasing an additional 49,626 shares during the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Comstock Resources in the first quarter worth approximately $1,717,000. Kovack Advisors Inc. purchased a new stake in shares of Comstock Resources in the first quarter worth approximately $1,058,000. Seven Eight Capital LP bought a new stake in shares of Comstock Resources during the 1st quarter worth approximately $813,000. Finally, Keynote Financial Services LLC purchased a new position in Comstock Resources during the 1st quarter valued at $930,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Insider Activity at Comstock Resources

In other news, major shareholder Drilling L.P. Arkoma bought 573,453 shares of Comstock Resources stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $10.64 per share, for a total transaction 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. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 acquired at an average cost of $10.64 per share, with a total value of $6,101,539.92. Following the completion of the transaction, the insider now owns 203,450,946 shares in the company, valued at approximately $2,164,718,065.44. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Star Exploration Corp Blue acquired 825,868 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $8.82 per share, with a total value of $7,284,155.76. Following the acquisition, the insider now owns 197,298,165 shares in the company, valued at approximately $1,740,169,815.30. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,712,733 shares of company stock valued at $67,816,851 over the last quarter. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRK has been the topic of a number of recent analyst reports. Wolfe Research assumed coverage on Comstock Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. KeyCorp assumed coverage on shares of Comstock Resources in a research note on Thursday, June 27th. They issued a “sector weight” rating on the stock. 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. Piper Sandler lowered shares of Comstock Resources from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $5.00 in a research report on Thursday, August 15th. Finally, BMO Capital Markets lifted their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.93.

Comstock Resources Price Performance

NYSE CRK opened at $12.09 on Wednesday. The company has a market cap of $3.53 billion, a PE ratio of 54.95 and a beta of 0.47. The firm’s 50 day moving average price is $10.39 and its 200-day moving average price is $10.39. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.59. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $13.39.

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

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.