Bank of Montreal Can Buys 858,281 Shares of Comstock Resources, Inc. (NYSE:CRK)

Bank of Montreal Can boosted its stake in Comstock Resources, Inc. (NYSE:CRKGet Rating) by 5,625.1% in the second quarter, HoldingsChannel reports. The firm owned 873,539 shares of the oil and gas producer’s stock after acquiring an additional 858,281 shares during the period. Bank of Montreal Can’s holdings in Comstock Resources were worth $12,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CRK. Cullen Frost Bankers Inc. bought a new stake in Comstock Resources in the 2nd quarter worth approximately $48,000. Ellevest Inc. grew its position in Comstock Resources by 33.3% in the 2nd quarter. Ellevest Inc. now owns 8,145 shares of the oil and gas producer’s stock worth $98,000 after purchasing an additional 2,035 shares during the period. Lido Advisors LLC bought a new stake in Comstock Resources in the 1st quarter worth approximately $131,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Comstock Resources during the 2nd quarter valued at $135,000. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Comstock Resources during the 1st quarter valued at $171,000. Institutional investors own 34.02% of the company’s stock.

Comstock Resources Trading Up 0.6 %

Shares of Comstock Resources stock opened at $19.24 on Thursday. The company has a market capitalization of $4.50 billion, a P/E ratio of 5.59 and a beta of 1.35. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.65 and a current ratio of 0.65. The company has a fifty day moving average of $18.08 and a 200 day moving average of $17.06. Comstock Resources, Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $22.11.

Comstock Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, November 30th.

Insiders Place Their Bets

In related news, Director Jim L. Turner purchased 50,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were acquired at an average price of $18.34 per share, for a total transaction of $917,000.00. Following the purchase, the director now directly owns 265,805 shares in the company, valued at $4,874,863.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Jim L. Turner purchased 50,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were acquired at an average price of $18.34 per share, for a total transaction of $917,000.00. Following the purchase, the director now directly owns 265,805 shares in the company, valued at $4,874,863.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Morris E. Foster purchased 14,000 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was bought at an average price of $18.16 per share, for a total transaction of $254,240.00. Following the purchase, 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 purchased a total of 122,000 shares of company stock worth $2,291,680 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TheStreet raised shares of Comstock Resources from a “c” rating to a “b-” rating in a research report on Monday, August 1st. Stifel Nicolaus boosted their price objective on shares of Comstock Resources from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, September 12th. The Goldman Sachs Group boosted their price objective on shares of Comstock Resources from $12.00 to $13.50 and gave the company a “sell” rating in a research report on Monday, August 22nd. Tudor, Pickering, Holt & Co. began coverage on shares of Comstock Resources in a research report on Wednesday, November 16th. They set a “hold” rating for the company. Finally, KeyCorp began coverage on shares of Comstock Resources in a report on Monday, September 19th. They issued an “overweight” rating and a $26.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Comstock Resources has an average rating of “Hold” and an average target price of $19.88.

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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