Comstock Resources, Inc. (NYSE:CRK) Major Shareholder Purchases $6,834,518.84 in Stock

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) major shareholder Drilling L.P. Arkoma acquired 592,246 shares of Comstock Resources stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price 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. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Drilling L.P. Arkoma also recently made the following trade(s):

• On Thursday, August 22nd, Drilling L.P. Arkoma acquired 1,044,200 shares of Comstock Resources stock. The stock was acquired at an average price of $10.96 per share, with a total value of $11,444,432.00.
• On Tuesday, August 20th, Drilling L.P. Arkoma acquired 1,044,200 shares of Comstock Resources stock. The stock was acquired at an average price of $10.93 per share, with a total value of $11,413,106.00.
• On Friday, August 16th, Drilling L.P. Arkoma acquired 573,453 shares of Comstock Resources stock. The stock was acquired at an average price of $10.64 per share, with a total value of $6,101,539.92.
• On Monday, August 12th, Drilling L.P. Arkoma purchased 981,898 shares of Comstock Resources stock. The shares were purchased at an average price of $10.13 per share, with a total value of $9,946,626.74.
• On Friday, August 9th, Drilling L.P. Arkoma purchased 825,868 shares of Comstock Resources stock. The shares were purchased at an average price of $9.76 per share, with a total value of $8,060,471.68.

Comstock Resources Trading Down 4.1 %

Shares of NYSE CRK traded down $0.47 during midday trading on Tuesday, hitting $11.03. 2,202,080 shares of the company traded hands, compared to its average volume of 3,934,175. 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 quick ratio of 0.64 and a current ratio of 0.59. The stock has a 50-day moving average price of $10.34 and a 200 day moving average price of $9.84. The firm has a market cap of $3.22 billion, a P/E ratio of 50.73 and a beta of 0.51.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.04). The business had revenue of $246.80 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. As a group, analysts expect that Comstock Resources, Inc. will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On Comstock Resources

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. bought a new position in Comstock Resources in the second quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its holdings in 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 purchasing an additional 3,446 shares during the period. GAMMA Investing LLC increased its position in Comstock Resources by 428.9% in the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer's stock worth $44,000 after buying an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Comstock Resources by 2,161.0% in the first 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 during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Comstock Resources during the 1st quarter valued at about $91,000. Hedge funds and other institutional investors own 36.13% of the company's stock.

Wall Street Analysts Forecast Growth

CRK has been the subject of a number of recent analyst reports. Capital One Financial lowered shares of Comstock Resources from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, May 15th. Mizuho lifted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the stock an "underperform" rating in a report on Monday, May 13th. Truist Financial lifted their price objective on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a "hold" rating in a report on Monday, July 22nd. StockNews.com raised shares of Comstock Resources to a "sell" rating in a report on Monday, April 29th. Finally, Wolfe Research assumed coverage on shares of Comstock Resources in a report on Thursday, July 18th. They set a "peer perform" rating for the company. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Comstock Resources currently has an average rating of "Hold" and a consensus price target of $9.75.

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.

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