Mackenzie Financial Corp Takes $3.14 Million Position in Comstock Resources, Inc. (NYSE:CRK)

Mackenzie Financial Corp acquired a new stake in Comstock Resources, Inc. (NYSE:CRKGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 259,496 shares of the oil and gas producer’s stock, valued at approximately $3,135,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Comstock Resources by 10.8% in the first quarter. State Street Corp now owns 8,728,560 shares of the oil and gas producer’s stock valued at $113,908,000 after buying an additional 849,275 shares during the period. Vanguard Group Inc. boosted its holdings in Comstock Resources by 19.0% in the first quarter. Vanguard Group Inc. now owns 7,227,385 shares of the oil and gas producer’s stock valued at $94,318,000 after acquiring an additional 1,152,570 shares during the last quarter. BlackRock Inc. boosted its holdings in Comstock Resources by 12.5% in the first quarter. BlackRock Inc. now owns 7,076,353 shares of the oil and gas producer’s stock valued at $92,347,000 after acquiring an additional 786,726 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Comstock Resources by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,216,378 shares of the oil and gas producer’s stock valued at $68,075,000 after acquiring an additional 691,334 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in 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 acquiring an additional 554,378 shares during the last quarter. Institutional investors and hedge funds own 34.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CRK shares. Tudor, Pickering, Holt & Co. started coverage on Comstock Resources in a report on Wednesday, November 16th. They issued a “hold” rating on the stock. Tudor Pickering started coverage on Comstock Resources in a report on Wednesday, November 16th. They issued a “hold” rating on the stock. Stifel Nicolaus upped their target price on Comstock Resources from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, September 12th. Citigroup upped their target price on Comstock Resources from $17.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 21st. Finally, Piper Sandler upgraded Comstock Resources from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $16.00 to $17.00 in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.88.

Insider Transactions at Comstock Resources

In other news, Director Morris E. Foster bought 14,000 shares of the stock in a transaction dated Friday, September 16th. The shares were bought at an average cost 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 of the company’s stock, valued at $2,616,565.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO M Jay Allison bought 50,000 shares of the stock in a transaction dated Friday, September 16th. The shares were bought at an average cost of $19.50 per share, with a total value of $975,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,690,813 shares of the company’s stock, valued at $32,970,853.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Morris E. Foster purchased 14,000 shares of the stock in a transaction that occurred on Friday, September 16th. The stock was bought at an average cost 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 disclosure for this purchase can be found here. Insiders have bought 122,000 shares of company stock valued at $2,291,680 over the last ninety days. 1.20% of the stock is owned by company insiders.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $17.59 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.40. Comstock Resources, Inc. has a twelve month low of $6.88 and a twelve month high of $22.11. The stock’s 50 day moving average is $18.16 and its 200-day moving average is $17.02. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 5.11 and a beta of 1.35.

Comstock Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, November 30th.

About Comstock Resources

(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.

Further Reading

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

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