11,136 Shares in Comstock Resources, Inc. (NYSE:CRK) Acquired by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System acquired a new position in Comstock Resources, Inc. (NYSE:CRKGet Rating) during the second quarter, Holdings Channel reports. The institutional investor acquired 11,136 shares of the oil and gas producer’s stock, valued at approximately $135,000.

A number of other large investors have also recently added to or reduced their stakes in CRK. Vanguard Group Inc. boosted its position in Comstock Resources by 19.0% during the first quarter. Vanguard Group Inc. now owns 7,227,385 shares of the oil and gas producer’s stock worth $94,318,000 after purchasing an additional 1,152,570 shares during the period. State Street Corp boosted its position in Comstock Resources by 10.8% during the first quarter. State Street Corp now owns 8,728,560 shares of the oil and gas producer’s stock worth $113,908,000 after purchasing an additional 849,275 shares during the period. BlackRock Inc. boosted its position in Comstock Resources by 12.5% during the first quarter. BlackRock Inc. now owns 7,076,353 shares of the oil and gas producer’s stock worth $92,347,000 after purchasing an additional 786,726 shares during the period. Bank of America Corp DE boosted its position in Comstock Resources by 382.2% during the first quarter. Bank of America Corp DE now owns 875,337 shares of the oil and gas producer’s stock worth $11,423,000 after purchasing an additional 693,790 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Comstock Resources by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,216,378 shares of the oil and gas producer’s stock worth $68,075,000 after purchasing an additional 691,334 shares during the period. Institutional investors own 34.02% of the company’s stock.

Comstock Resources Price Performance

Shares of CRK stock opened at $19.12 on Wednesday. The stock has a 50-day moving average price of $18.12 and a 200 day moving average price of $17.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.40. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 5.56 and a beta of 1.35. Comstock Resources, Inc. has a 12 month low of $6.88 and a 12 month high of $22.11.

Comstock Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.125 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.50 dividend on an annualized basis and a yield of 2.62%.

Insider Buying and Selling

In other news, Director Morris E. Foster acquired 8,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was purchased at an average cost of $18.18 per share, for a total transaction of $145,440.00. Following the completion of the transaction, the director now directly owns 152,084 shares in the company, valued at $2,764,887.12. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO M Jay Allison bought 50,000 shares of Comstock Resources stock in a transaction on Friday, September 16th. The shares were purchased at an average price of $19.50 per share, for a total transaction of $975,000.00. Following the completion of the acquisition, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Morris E. Foster bought 8,000 shares of Comstock Resources stock in a transaction on Thursday, September 22nd. The shares were bought at an average price of $18.18 per share, for a total transaction of $145,440.00. Following the acquisition, the director now owns 152,084 shares of the company’s stock, valued at approximately $2,764,887.12. The disclosure for this purchase can be found here. Insiders bought a total of 122,000 shares of company stock worth $2,291,680 over the last three months. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CRK has been the subject of a number of recent analyst reports. Tudor, Pickering, Holt & Co. initiated coverage on Comstock Resources in a research report on Wednesday, November 16th. They set a “hold” rating for the company. KeyCorp initiated coverage on Comstock Resources in a research report on Monday, September 19th. They issued an “overweight” rating and a $26.00 price objective for the company. Stifel Nicolaus increased their price objective on Comstock Resources from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, September 12th. Citigroup increased their price objective on Comstock Resources from $17.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 21st. Finally, Tudor Pickering initiated coverage on Comstock Resources in a research report on Wednesday, November 16th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Comstock Resources presently has an average rating of “Hold” and an average price target of $19.88.

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.

Further Reading

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

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