13GD Ownership Change: Why Price T Rowe Associates Inc Reported Big Comstock Resources Inc Position?

13GD Ownership Change: Why Price T Rowe Associates Inc  Reported Big Comstock Resources Inc Position?

The New Price T Rowe Associates Inc Holding in Comstock Resources Inc

Price T Rowe Associates Inc filed with the SEC SC 13G form for Comstock Resources Inc. The form can be accessed here: 000008025516001349. As reported in Price T Rowe Associates Inc ’s form, the filler as of late owns 12.4% or 1,630,722 shares of the Energy–company.

Comstock Resources Inc stake is a new one for the for this institutional investor and it was filed because of activity on October 31, 2016. We feel this shows Price T Rowe Associates Inc ’s positive view for the stock. For a institutional investor managing $689.00 billion in assets and having 2216+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

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.

Price T Rowe Associates Inc website.

Insitutional Activity: The institutional sentiment decreased to 0.66 in Q2 2016. Its down 0.10, from 0.76 in 2016Q1. The ratio turned negative, 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.

Grp One Trading Lp last reported 15,370 shares in the company. Quantitative Investment Management Ltd owns 54,200 shares or 0% of their US portfolio. Mount Lucas Mgmt L P, a Pennsylvania-based fund reported 14,500 shares. First Manhattan Com reported 11,660 shares or 0% of all its holdings. Northern Tru holds 199,550 shares or 0% of its portfolio. Spark Inv Mngmt Limited Liability holds 0.03% of its portfolio in Comstock Resources Inc (NYSE:CRK) for 373,400 shares. Perkins Mgmt holds 13,750 shares or 0.01% of its portfolio. Moreover, Wells Fargo And Mn has 0% invested in Comstock Resources Inc (NYSE:CRK) for 8,701 shares. Outfitter Advsrs Limited accumulated 286,800 shares or 0.1% of the stock. Bancorp Of America De holds 0% or 800 shares in its portfolio. The New York-based Bnp Paribas Arbitrage Sa has invested 0% in Comstock Resources Inc (NYSE:CRK). Royal Financial Bank Of Canada has 4,256 shares for 0% of their US portfolio. Mariner Invest Grp Ltd Liability Co reported 282,492 shares or 0.08% of all its holdings. Blackrock Institutional Communications Na last reported 0% of its portfolio in the stock. Phoenix Adviser Ltd last reported 1.91M shares in the company.

About 611,066 shares traded hands. Comstock Resources Inc (NYSE:CRK) has risen 104.88% since April 8, 2016 and is uptrending. It has outperformed by 99.24% 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 $112.45 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 -62.29% below today’s ($8.3) stock price. Comstock Resources has been the topic of 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Friday, February 26 by Imperial Capital. On Friday, February 12 the stock rating was downgraded by Ladenburg Thalmann to “Neutral”. The firm has “Sector Underperform” rating given on Monday, December 14 by Howard Weil. The rating was maintained by Imperial Capital on Friday, October 7 with “In-Line”. The stock of Comstock Resources Inc (NYSE:CRK) earned “In-Line” rating by Imperial Capital on Thursday, August 11. On Tuesday, January 19 the stock rating was downgraded by KLR Group to “Hold”. Credit Suisse downgraded Comstock Resources Inc (NYSE:CRK) rating on Wednesday, July 22. Credit Suisse has “Underperform” rating and $1 price target. The company was maintained on Thursday, November 5 by RBC Capital Markets.

Another recent and important Comstock Resources Inc (NYSE:CRK) news was published by Nasdaq.com which published an article titled: “Comstock Resources, Inc. Announces Closing of Senior Notes Exchange Offer” on September 06, 2016.

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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