Renaissance Technologies LLC Decreases Holdings in Comstock Resources, Inc. (NYSE:CRK)

Renaissance Technologies LLC lowered its position in Comstock Resources, Inc. (NYSE:CRK - Free Report) by 75.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,162 shares of the oil and gas producer's stock after selling 689,144 shares during the period. Renaissance Technologies LLC owned about 0.08% of Comstock Resources worth $2,316,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. bought a new position in Comstock Resources during the 2nd quarter worth about $32,000. GAMMA Investing LLC lifted its holdings 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 worth $44,000 after buying an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC grew 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 valued at $46,000 after acquiring an additional 4,711 shares in the last quarter. Headlands Technologies LLC bought a new stake in Comstock Resources in the 1st quarter valued at about $91,000. Finally, Choreo LLC bought a new position in shares of Comstock Resources during the second quarter worth approximately $105,000. Institutional investors own 36.13% of the company's stock.

Comstock Resources Trading Up 0.3 %

NYSE CRK opened at $11.17 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 current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $3.26 billion, a PE ratio of 50.75 and a beta of 0.48. The business's 50-day moving average price is $10.20 and its two-hundred day moving average price is $10.24.

Comstock Resources (NYSE:CRK - Get Free Report) last announced its earnings results 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). 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 for the quarter, compared to the consensus estimate of $296.02 million. Comstock Resources's revenue was down 14.4% compared to the same quarter last year. On average, analysts expect that Comstock Resources, Inc. will post -0.37 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRK. Wolfe Research assumed coverage on Comstock Resources in a report on Thursday, July 18th. They issued a "peer perform" rating for the company. Truist Financial increased their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Monday. KeyCorp assumed coverage on Comstock Resources in a report on Thursday, June 27th. They issued a "sector weight" rating on the stock. Mizuho lowered their price target on Comstock Resources from $11.00 to $10.00 and set an "underperform" rating for the company in a report on Monday, September 16th. Finally, Piper Sandler lowered Comstock Resources from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Four 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. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $9.75.

Insiders Place Their Bets

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

About Comstock Resources

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.