Comstock Resources, Inc. (NYSE:CRK) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 75.5% during the second quarter, according to the company in its most recent disclosure 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 quarter. Renaissance Technologies LLC’s holdings in Comstock Resources were worth $2,316,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CRK. ProShare Advisors LLC raised its position in shares of Comstock Resources by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock worth $172,000 after buying an additional 1,276 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Comstock Resources by 27.5% during the second quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,312 shares during the period. Simplicity Wealth LLC raised its holdings in Comstock Resources by 5.7% during the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock worth $296,000 after purchasing an additional 1,552 shares in the last quarter. Arizona State Retirement System lifted its position in Comstock Resources by 6.9% in the second quarter. Arizona State Retirement System now owns 28,630 shares of the oil and gas producer’s stock worth $297,000 after purchasing an additional 1,848 shares during the period. Finally, Outfitter Financial LLC lifted its position in Comstock Resources by 5.5% in the first quarter. Outfitter Financial LLC now owns 36,200 shares of the oil and gas producer’s stock worth $336,000 after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Drilling L.P. Arkoma bought 573,453 shares of the business’s stock in a transaction on Friday, August 16th. The shares were bought 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 directly owns 203,450,946 shares in the company, valued at $2,164,718,065.44. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Drilling L.P. Arkoma acquired 573,453 shares of Comstock Resources stock in a transaction dated 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 purchase, the insider now owns 203,450,946 shares of the company’s stock, valued at $2,164,718,065.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Star Exploration Corp Blue bought 825,868 shares of the company’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 acquisition, the insider now directly owns 197,298,165 shares in the company, valued at $1,740,169,815.30. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 6,712,733 shares of company stock worth $67,816,851. Corporate insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRK. Wolfe Research began coverage on Comstock Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial lifted their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday. KeyCorp assumed coverage on shares of Comstock Resources in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Piper Sandler cut shares of Comstock Resources from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $8.00 to $5.00 in a research note on Thursday, August 15th. Finally, Mizuho dropped their target price 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. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Comstock Resources currently has an average rating of “Hold” and a consensus target price of $9.75.

Comstock Resources Trading Up 0.3 %

Shares of NYSE CRK opened at $11.17 on Wednesday. The business has a 50 day simple moving average of $10.20 and a 200 day simple moving average of $10.24. Comstock Resources, Inc. has a 52 week low of $7.07 and a 52 week high of $13.39. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 50.75 and a beta of 0.48. 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 (NYSE:CRK) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The business had revenue of $246.80 million during the quarter, compared to the consensus estimate of $296.02 million. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. Comstock Resources’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, research analysts predict that Comstock Resources, Inc. will post -0.37 earnings per share for the current fiscal year.

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.