Comstock Resources Target of Unusually Large Options Trading (CRK)

Comstock Resources, Inc. (NYSE:CRK) saw some unusual options trading activity on Monday. Investors acquired 550 put options on the stock. This is an increase of approximately 817% compared to the average daily volume of 60 put options.

Hedge funds have recently modified their holdings of the stock. Northern Trust Corp boosted its holdings in Comstock Resources by 3.4% in the second quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock worth $225,000 after purchasing an additional 1,055 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Comstock Resources by 78.9% in the first quarter. Bank of New York Mellon Corp now owns 44,490 shares of the oil and gas producer’s stock worth $410,000 after purchasing an additional 19,627 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Comstock Resources by 7.5% in the second quarter. Russell Investments Group Ltd. now owns 48,105 shares of the oil and gas producer’s stock worth $340,000 after purchasing an additional 3,345 shares during the last quarter. ACR Alpine Capital Research LLC purchased a new stake in Comstock Resources in the third quarter worth approximately $304,000. Finally, Macquarie Group Ltd. purchased a new stake in Comstock Resources in the third quarter worth approximately $430,000. Institutional investors own 52.69% of the company’s stock.

Several equities research analysts recently issued reports on CRK shares. Capital One Financial restated an “underweight” rating on shares of Comstock Resources in a report on Monday, August 7th. Stifel Nicolaus set a $12.00 target price on shares of Comstock Resources and gave the stock a “buy” rating in a report on Monday, August 14th. ValuEngine cut shares of Comstock Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Barclays dropped their target price on shares of Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Finally, KeyCorp restated a “hold” rating on shares of Comstock Resources in a report on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $11.40.

Shares of Comstock Resources (CRK) opened at $6.04 on Thursday. Comstock Resources has a fifty-two week low of $4.01 and a fifty-two week high of $13.42. The company has a debt-to-equity ratio of -3.32, a current ratio of 0.58 and a quick ratio of 0.58.

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Comstock Resources Company Profile

Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.

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