Filing of The Day: Comstock Resources Inc Has Another Bullish Trade, Pointstate Capital Lp Bought Stake!

Filing of The Day: Comstock Resources Inc Has Another Bullish Trade, Pointstate Capital Lp Bought Stake!

The New Pointstate Capital Lp Holding in Comstock Resources Inc

Pointstate Capital Lp filed with the SEC SC 13G form for Comstock Resources Inc. The form can be accessed here: 000134100416001752. As reported in Pointstate Capital Lp’s form, the filler as of late owns 9.99% or 1,493,401 shares of the Energy–company.

Comstock Resources Inc stake is a new one for the for the hedge fund and it was filed because of activity on November 8, 2016. We feel this shows Pointstate Capital Lp’s positive view for the stock. For a hedge fund managing $10.76 billion in assets and having 49+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

The hedge fund is active investor in the Energy sector. In the manager’s last 13-F, we saw 9% of Pointstate Capital Lp’s US equities portfolio is in this sector.

Comstock Resources Inc Institutional Sentiment

Latest Security and Exchange filings show 74 investors own Comstock Resources Inc. The institutional ownership in Q3 2015 is high, at 277.88% of the outstanding shares. This is decreased by 3729676 the total institutional shares. 37403293 were the shares owned by these institutional investors. In total 13 funds opened new Comstock Resources Inc stakes, 20 increased stakes. There were 51 that closed positions and 32 reduced them.

Outfitter Advisors Ltd is an institutional investor bullish on Comstock Resources Inc, owning 436800 shares as of Q3 2015 for 0.36% of its portfolio. First Dallas Securities Inc owns 248089 shares or 0.39% of its portfolio. VA Aegis Financial Corp have 0.56% of their stock portfolio for 447066 shares. Further, Lyons Wealth Management Llc reported stake worth 0.03% of its US stock portfolio. The NY Karamaan Group Llc owns 755783 shares. Comstock Resources Inc is 1.50% of the manager’s US portfolio.

Business 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. Its operations are focused in two operating areas: East Texas/North Louisiana and South Texas. The Company’s properties in the East Texas/North Louisiana region include approximately 80,660 acres in the Haynesville or Bossier shale formations. The Company’s Eagleville field includes approximately 30,220 acres located in the oil window of the Eagle Ford shale in South Texas. The Company owns interests in over 1,575 producing oil and natural gas wells, and operates over 950 of these wells. The Company owns interests in over 20 wells in the Rosita field, located in Duval County, Texas.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Insitutional Activity: The institutional sentiment decreased to 0 in 2016 Q2. Its down 0.66, from 0.66 in 2016Q1. The ratio worsened, as 14 funds sold all Comstock Resources Inc shares owned while 18 reduced positions. 8 funds bought stakes while 13 increased positions. They now own 17.93 million shares or 0.76% more from 17.80 million shares in 2016Q1.

Creative Planning has 20,065 shares for 0% of their US portfolio. The California-based Blackrock Institutional Tru Na has invested 0% in Comstock Resources Inc (NYSE:CRK). Lpl Fincl Ltd Liability Company last reported 15,000 shares in the company. Hodges Mngmt owns 6.14M shares or 0.25% of their US portfolio. California Employees Retirement Sys holds 0% of its portfolio in Comstock Resources Inc (NYSE:CRK) for 1.64M shares. Sfmg Ltd Llc last reported 0.01% of its portfolio in the stock. Deutsche National Bank Ag reported 5,337 shares or 0% of all its holdings. Outfitter Advsrs Limited reported 286,800 shares or 0.1% of all its holdings. Raymond James Assocs has 45,000 shares for 0% of their US portfolio. The California-based Schwab Charles Inv Mngmt has invested 0% in Comstock Resources Inc (NYSE:CRK). Phoenix Invest Adviser Ltd Com has 1.91M shares for 1.48% of their US portfolio. Geode Cap Mgmt Ltd Liability owns 214,581 shares or 0% of their US portfolio. Messner And Smith Theme Value Limited Ca has 6 shares for 0% of their US portfolio. Grp Inc One Trading Limited Partnership, a Illinois-based fund reported 15,370 shares. D E Shaw & last reported 416,923 shares in the company.

Insider Transactions: Since November 15, 2016, the stock had 1 insider purchase, and 0 selling transactions for $49,225 net activity. 5,500 shares were bought by MARTIN CECIL E JR, worth $49,225.

The stock increased 4.90% or $0.41 on November 18, hitting $8.78. About 533,921 shares traded hands. Comstock Resources Inc (NYSE:CRK) has risen 139.14% since April 18, 2016 and is uptrending. It has outperformed by 134.71% the S&P500.

Comstock Resources, Inc. is an energy firm engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The company has a market cap of $110.48 million. The Firm operates in the segment of exploration and production of oil and natural gas. It currently has negative earnings. The Company’s gas and oil activities are concentrated in Texas and Louisiana.

Comstock Resources Inc (NYSE:CRK) Ratings Coverage

Out of 7 analysts covering Comstock Resources (NYSE:CRK), 0 rate it a “Buy”, 3 “Sell”, while 4 “Hold”. This means 0 are positive. $8.50 is the highest target while $1 is the lowest. The $3.13 average target is -64.35% below today’s ($8.78) stock price. Comstock Resources has been the topic of 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Comstock Resources Inc (NYSE:CRK) on Thursday, November 5 with “Sector Perform” rating. The rating was downgraded by Howard Weil on Monday, December 14 to “Sector Underperform”. The stock of Comstock Resources Inc (NYSE:CRK) earned “In-Line” rating by Imperial Capital on Thursday, August 11. As per Tuesday, January 19, the company rating was downgraded by KLR Group. Ladenburg Thalmann downgraded Comstock Resources Inc (NYSE:CRK) on Friday, February 12 to “Neutral” rating. The rating was downgraded by Credit Suisse to “Underperform” on Wednesday, July 22. The firm earned “In-Line” rating on Friday, October 7 by Imperial Capital. As per Friday, February 26, the company rating was maintained by Imperial Capital.

More news for Comstock Resources Inc (NYSE:CRK) were recently published by: Nasdaq.com, which released: “Comstock Resources, Inc. Announces Divestiture of South Texas Natural Gas …” on October 17, 2016. Nasdaq.com‘s article titled: “Comstock Resources, Inc. Announces Closing of Senior Notes Exchange Offer” and published on September 06, 2016 is yet another important article.

According to Zacks Investment Research, “Comstock Resources, Inc. is an independent energy company engaged in the acquisition, development, production and exploration of oil and natural gas properties. The company’s oil and natural gas reserve base is entirely concentrated in the Gulf of Mexico, Southeast Texas and East Texas/North Louisiana regions.”

CRK Company Profile

Comstock Resources, Inc., incorporated on November 23, 1983, is an energy firm engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Firm operates in the segment of exploration and production of oil and natural gas. The Company’s gas and oil activities are concentrated in Texas and Louisiana. The Company’s activities are focused in two operating areas: East Texas/North Louisiana and South Texas. The Company’s properties in the East Texas/North Louisiana region include approximately 80,660 acres in the Haynesville or Bossier shale formations. The Company’s Eagleville field includes approximately 30,220 acres located in the oil window of the Eagle Ford shale in South Texas. The Firm owns interests in over 1,575 producing oil and natural gas wells, and operates over 950 of these wells.

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