Glenorchy Capital Ltd Has $2.20 Million Stake in Comstock Resources, Inc. (NYSE:CRK)

Glenorchy Capital Ltd increased its stake in shares of Comstock Resources, Inc. (NYSE:CRK - Free Report) by 91.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,713 shares of the oil and gas producer's stock after buying an additional 94,230 shares during the period. Comstock Resources accounts for approximately 0.7% of Glenorchy Capital Ltd's holdings, making the stock its 29th biggest holding. Glenorchy Capital Ltd owned about 0.07% of Comstock Resources worth $2,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Comstock Resources by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer's stock worth $95,838,000 after purchasing an additional 34,231 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 3,869 shares during the period. Ballentine Partners LLC bought a new stake in Comstock Resources in the first quarter valued at approximately $138,000. Doliver Advisors LP raised its holdings in Comstock Resources by 14.2% in the first quarter. Doliver Advisors LP now owns 26,416 shares of the oil and gas producer's stock worth $245,000 after purchasing an additional 3,290 shares during the period. Finally, Hexagon Capital Partners LLC boosted its position in shares of Comstock Resources by 2,161.0% during the first quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer's stock worth $46,000 after purchasing an additional 4,711 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company's stock.

Wall Street Analysts Forecast Growth

CRK has been the topic of several recent analyst reports. Truist Financial lifted their price objective on Comstock Resources from $9.00 to $10.00 and gave the company a "hold" rating in a report on Monday, September 30th. Siebert Williams Shank cut shares of Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price target for the company. in a report on Tuesday, October 15th. Mizuho dropped their price objective on shares of Comstock Resources from $11.00 to $10.00 and set an "underperform" rating on the stock in a report on Monday, September 16th. BMO Capital Markets boosted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company a "market perform" rating in a research report on Friday, October 4th. Finally, Wolfe Research assumed coverage on Comstock Resources in a report on Thursday, July 18th. They set a "peer perform" rating for the company. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $9.79.

Comstock Resources Price Performance

CRK traded down $0.16 on Friday, hitting $11.45. 1,158,880 shares of the stock were exchanged, compared to its average volume of 3,644,126. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.59. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $13.39. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 52.05 and a beta of 0.47. The business has a 50-day moving average of $10.82 and a two-hundred day moving average of $10.54.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $246.80 million during the quarter, compared to the consensus estimate of $296.02 million. Comstock Resources's revenue for the quarter was down 14.4% compared to the same quarter last year. Sell-side analysts forecast that Comstock Resources, Inc. will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of Comstock Resources stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $8.16 per share, for a total transaction of $6,732,000.00. Following the purchase, the insider now owns 195,646,429 shares in the company, valued at approximately $1,596,474,860.64. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Comstock Resources news, major shareholder Drilling L.P. Arkoma bought 825,868 shares of Comstock Resources stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $9.76 per share, with a total value of $8,060,471.68. Following the acquisition, the insider now directly owns 198,949,901 shares of the company's stock, valued at $1,941,751,033.76. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the company's stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $8.16 per share, with a total value of $6,732,000.00. Following the purchase, the insider now directly owns 195,646,429 shares of the company's stock, valued at approximately $1,596,474,860.64. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 6,712,733 shares of company stock valued at $67,816,851. 1.50% of the stock is currently owned by corporate insiders.

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.