Maple Rock Capital Partners Inc. Cuts Position in Comstock Resources Inc (CRK)

Maple Rock Capital Partners Inc. decreased its holdings in Comstock Resources Inc (NYSE:CRK) by 7.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 704,101 shares of the oil and gas producer’s stock after selling 56,999 shares during the period. Comstock Resources makes up about 1.5% of Maple Rock Capital Partners Inc.’s investment portfolio, making the stock its 13th largest position. Maple Rock Capital Partners Inc. owned 4.56% of Comstock Resources worth $4,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRK. Northern Trust Corp raised 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 valued at $225,000 after buying an additional 1,055 shares during the period. ACR Alpine Capital Research LLC purchased a new position in Comstock Resources in the third quarter valued at approximately $304,000. Russell Investments Group Ltd. raised 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 valued at $340,000 after buying an additional 3,345 shares during the period. Bank of New York Mellon Corp raised its holdings in Comstock Resources by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 54,970 shares of the oil and gas producer’s stock valued at $389,000 after buying an additional 10,480 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in shares of Comstock Resources during the third quarter valued at approximately $430,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

A number of analysts have recently issued reports on CRK shares. Robert W. Baird set a $12.00 price objective on shares of Comstock Resources and gave the company a “buy” rating in a research note on Friday, November 17th. Stifel Nicolaus set a $12.00 price objective on shares of Comstock Resources and gave the company a “buy” rating in a research note on Monday, August 14th. Barclays dropped their price objective on shares of Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. KeyCorp reiterated a “hold” rating on shares of Comstock Resources in a research note on Friday, November 24th. Finally, ValuEngine lowered shares of Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.40.

Shares of Comstock Resources Inc (CRK) opened at $6.92 on Friday. Comstock Resources Inc has a 1 year low of $4.01 and a 1 year high of $13.42. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of -3.32.

In related news, CEO M Jay Allison purchased 41,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was acquired at an average price of $6.17 per share, with a total value of $252,970.00. Following the completion of the transaction, the chief executive officer now owns 520,130 shares of the company’s stock, valued at $3,209,202.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 11.60% of the stock is currently owned by company insiders.

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Comstock Resources 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.

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

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