Star Exploration Corp Blue Purchases 825,000 Shares of Comstock Resources, Inc. (NYSE:CRK) Stock

Comstock Resources, Inc. (NYSE:CRK) major shareholder Star Exploration Corp Blue bought 825,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $8.16 per share, for a total transaction of $6,732,000.00. Following the acquisition, the insider now directly owns 195,646,429 shares in the company, valued at $1,596,474,860.64. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Star Exploration Corp Blue also recently made the following trade(s):

• On Wednesday, August 7th, Star Exploration Corp Blue acquired 825,868 shares of Comstock Resources stock. The stock was purchased at an average cost of $8.82 per share, with a total value of $7,284,155.76.

Comstock Resources Stock Performance

CRK traded up $0.33 on Wednesday, hitting $8.77. The company’s stock had a trading volume of 4,780,021 shares, compared to its average volume of 3,928,696. The company’s 50 day simple moving average is $10.66 and its 200-day simple moving average is $9.58. The firm has a market cap of $2.56 billion, a P/E ratio of 39.84 and a beta of 0.51. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $13.39. The company has a quick ratio of 0.64, a current ratio of 0.59 and a debt-to-equity ratio of 1.21.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data 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%. The firm’s revenue was down 14.4% on a year-over-year basis. Analysts forecast that Comstock Resources, Inc. will post -0.13 EPS for the current year.

Wall Street Analyst Weigh In

CRK has been the subject of a number of recent analyst reports. KeyCorp initiated coverage on shares of Comstock Resources in a research report on Thursday, June 27th. They issued a “sector weight” rating for the company. Stifel Nicolaus reduced their price objective on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Wolfe Research initiated coverage on shares of Comstock Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. The Goldman Sachs Group upped their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “sell” rating in a research report on Tuesday, May 28th. Finally, Truist Financial increased their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. purchased a new stake in Comstock Resources in the 2nd quarter worth approximately $32,000. GAMMA Investing LLC lifted its stake in Comstock Resources by 428.9% in the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Comstock Resources by 2,161.0% in the 1st 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. Headlands Technologies LLC purchased a new stake in Comstock Resources in the 1st quarter worth approximately $91,000. Finally, Forum Financial Management LP purchased a new stake in Comstock Resources in the 4th quarter worth approximately $90,000. 36.13% of the stock is owned by institutional investors.

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.