In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Comstock Resources Inc. (NYSE:CRK) reported that Westcott Carl H has picked up 1,154,683 of common stock as of 2017-05-02.
The acquisition brings the aggregate amount owned by Westcott Carl H to a total of 1,154,683 representing less than 7.51% stake in the company.
For those not familiar with the company, 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.
A glance at Comstock Resources Inc. (NYSE:CRK)’s key stats reveals a current market capitalization of 125.75 Million based on 15.28 Million shares outstanding and a price at last close of $8.48 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-15, Martin picked up 5,500 at a purchase price of $8.95. This brings their total holding to 34,524 as of the date of the filing.
On the sell side, the most recent transaction saw Allison unload 8,000 shares at a sale price of $10.12. This brings their total holding to 393,919.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Comstock Resources Inc. (NYSE:CRK) as things move forward to see if its progress aligns with these transactions.
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