Paloma Partners Management Co Acquires Shares of 75,300 Comstock Resources, Inc. (NYSE:CRK)

Paloma Partners Management Co bought a new stake in Comstock Resources, Inc. (NYSE:CRKGet Rating) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 75,300 shares of the oil and gas producer’s stock, valued at approximately $910,000.

A number of other large investors have also recently bought and sold shares of the business. Mackenzie Financial Corp purchased a new stake in shares of Comstock Resources in the second quarter valued at about $3,135,000. Bank of Montreal Can lifted its position in Comstock Resources by 5,625.1% during the 2nd quarter. Bank of Montreal Can now owns 873,539 shares of the oil and gas producer’s stock worth $12,002,000 after acquiring an additional 858,281 shares during the period. Ellevest Inc. grew its stake in shares of Comstock Resources by 33.3% in the 2nd quarter. Ellevest Inc. now owns 8,145 shares of the oil and gas producer’s stock valued at $98,000 after purchasing an additional 2,035 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Comstock Resources by 13.8% in the first quarter. Bank of New York Mellon Corp now owns 4,561,622 shares of the oil and gas producer’s stock valued at $59,529,000 after purchasing an additional 554,378 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in Comstock Resources during the 2nd quarter worth approximately $514,000. Institutional investors and hedge funds own 34.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CRK. Stifel Nicolaus raised their price target on Comstock Resources from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 12th. StockNews.com began coverage on shares of Comstock Resources in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. KeyCorp cut their price target on shares of Comstock Resources from $26.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday. The Goldman Sachs Group boosted their price objective on shares of Comstock Resources from $12.00 to $13.50 and gave the stock a “sell” rating in a report on Monday, August 22nd. Finally, Citigroup cut shares of Comstock Resources from a “buy” rating to a “sell” rating and dropped their target price for the company from $24.00 to $14.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Comstock Resources has a consensus rating of “Hold” and a consensus target price of $18.00.

Insiders Place Their Bets

In other news, Director Morris E. Foster acquired 14,000 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was acquired at an average price of $18.16 per share, with a total value of $254,240.00. Following the completion of the transaction, the director now directly owns 144,084 shares in the company, valued at approximately $2,616,565.44. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Comstock Resources news, CEO M Jay Allison purchased 50,000 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were purchased at an average cost of $19.50 per share, with a total value of $975,000.00. Following the purchase, the chief executive officer now owns 1,690,813 shares in the company, valued at $32,970,853.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Morris E. Foster acquired 14,000 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were bought at an average price of $18.16 per share, for a total transaction of $254,240.00. Following the completion of the acquisition, the director now owns 144,084 shares in the company, valued at $2,616,565.44. The disclosure for this purchase can be found here. Insiders have bought 72,000 shares of company stock valued at $1,374,680 in the last ninety days. Insiders own 1.20% of the company’s stock.

Comstock Resources Stock Performance

Comstock Resources stock opened at $14.11 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.65 and a current ratio of 0.65. Comstock Resources, Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $22.11. The stock has a fifty day moving average of $17.88 and a two-hundred day moving average of $17.17. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 4.10 and a beta of 1.29.

Comstock Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.50 dividend on an annualized basis and a yield of 3.54%. Comstock Resources’s dividend payout ratio (DPR) is 14.53%.

Comstock Resources Company Profile

(Get Rating)

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves.

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Institutional Ownership by Quarter for Comstock Resources (NYSE:CRK)

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