SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 2 TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
COMSTOCK RESOURCES, INC.
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(Name of Issuer)
Common Stock, $0.50 Par Value
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(Title of Class of Securities)
205768203
(CUSIP NUMBER)
CAMBRIDGE INVESTMENTS, LTD.
600 Montgomery Street
43rd Floor
San Francisco, California 94111
Tel. No.: (415) 781-0866
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
- with copies to -
Michael G. Tannenbaum, Esq.
Newman Tannenbaum Helpern Syracuse & Hirschtritt LLP
900 Third Avenue - 13th Floor
New York, New York 10022
(212) 508-6700
--------------------------------------------------------------
November 14, 1997
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d- 1(b)(3) or (4) check the following box [ ]
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934, as amended ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act.
Page 1 of 8 Pages
<PAGE>
- --------------------- ------------------------------------
CUSIP No. 205768203 13D
- --------------------- ------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Cambridge Investments, Ltd.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 183,216 shares of Common Stock (See Item 5.)
OWNED BY
EACH
REPORTING
PERSON WITH
- -------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
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9 SOLE DISPOSITIVE POWER
183,216 shares of Common Stock (See Item 5.)
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
183,216 shares of Common Stock (See Item 5.)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.75% of Common Stock (See Item 5)
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14 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 2 of 8 Pages
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AMENDMENT NO. 2 TO
SCHEDULE 13D
This Amendment No. 2 to Schedule 13D is being filed on behalf
of Cambridge Investments, Ltd., a California corporation ("Cambridge" or "CIL"),
registered as an investment advisor in the State of California, regarding shares
of Comstock Resources, Inc. acquired on behalf of certain of its clients.
Item 1. Security and Issuer
Securities acquired: Common Stock, $0.50 par value
Issuer: Comstock Resources, Inc. (the "Issuer")
5005 LBJ Freeway - Suite 1000
Dallas, TX 75244
(214) 701-2000
Item 2. Identity and Background
There is no change in this section.
Item 3. Source and Amount of Funds
Cambridge, through Cambridge Energy, L.P. ("CELP"), Cambridge
Energy Fund International Ltd. ("CEF") Cambridge Oil & Gas, L.P. ("COG"),
Cambridge Oil & Gas International, Ltd. ("COG Int'l") and Quantum Partners, LDC
"QUE") (collectively, the "Funds"), has invested approximately $1,571,599.82 in
Common Stock of the Issuer as described in Item 5 below. CELP, CEF, COG, COG
Int'l., and QUE have invested approximately $491,239.96, $268.63, $596,514.20,
$210,179.18, and $273,397.85 respectively. The source of these funds was the
respective working capital of each of the Funds.
Item 4. Purpose of the Transaction
There is no change in this section.
Item 5. Interest in Securities of the Issuer
As of December 12, 1997, Cambridge is the beneficial owner of
183,216 shares of Common Stock, or .75% shares of the shares outstanding. Of the
183,216 shares of Common Stock described above, (i) 94,000 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for the
institutional account of CELP; (ii) 66 are deemed beneficially owned by
Cambridge in its capacity as investment advisor for the institutional account of
CEF; (iii) 45,800 are deemed beneficially owned by Cambridge in its capacity as
investment advisor for the institutional account of COG; (iv) 18,450 are deemed
beneficially
Page 3 of 8 Pages
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owned by Cambridge in its capacity as investment advisor for the institutional
account of COG Int'l.; (v) 24,900 are deemed beneficially owned by Cambridge in
its capacity as investment advisor for the institutional account of QUE.
The number of shares beneficially owned by Cambridge, and the
percentage of outstanding shares represented thereby, have been computed in
accordance with Rule 13d-3 under the Act. The percentage of ownership of
Cambridge on December 12, 1997 is based on 24,204,785 outstanding shares of
Common Stock as reported in the Issuer's Quarterly Report on Form 10-Q as filed
with the Securities and Exchange Commission on November 10, 1997.
(b) Cambridge has the sole power to vote and dispose of the
shares of Common Stock held for the institutional accounts of CELP, CEF, COG,
COG Int'l., and QUE, respectively.
(c) The transactions in the Issuer's securities by Cambridge
since the last filing are listed as Annex A attached hereto and made apart
hereof.
(d) The Funds have the right to participate in the receipt of
dividends from, or proceeds from the sale of, securities held on behalf of such
funds.
(e) Not Applicable.
Item 6. Contracts, Arrangement, Understandings or Relationships with
Respect to
Securities of the Issuer
There is no change in this section.
Item 7. Material to be Filed as Exhibits
There is no change in this section.
Page 4 of 8 Pages
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<TABLE>
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CRK
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<S> <C> <C> <C> <C>
DATE ACCOUNT TRANS SHARES PRICE
(A/D) ($)
- -----------------------------------------------------------------------------------------
11/05/97 CEF D 5550 15.87
- -----------------------------------------------------------------------------------------
11/05/97 CEF D 20350 16.02
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11/05/97 CELP D 19800 16.02
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11/05/97 CELP D 5400 15.87
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11/05/97 COG D 6050 16.07
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11/05/97 COG D 1650 15.94
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11/05/97 COGI D 2750 16.01
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11/05/97 COGI D 750 15.86
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11/05/97 PAL* D 1500 15.87
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11/05/97 PAL* D 550 15.99
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11/05/97 PAL* D 150 15.78
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11/05/97 QUE D 5500 16.01
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11/14/97 PAL* D 14500 14.17
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11/14/97 PAL* D 4700 14.17
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11/14/97 PAL* D 5384 14.17
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11/14/97 QUE D 60000 14.2
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11/14/97 QUE D 10000 14.2
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11/14/97 QUE D 6200 14.2
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11/14/97 QUE D 18800 14.17
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11/14/97 QUE D 23800 14.2
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11/17/97 CEF D 10000 14.62
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11/17/97 CELP D 10000 14.62
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11/17/97 QUE D 5000 14.62
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11/18/97 CEF D 42000 14.54
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11/18/97 CELP D 41000 14.54
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11/18/97 COGI D 6000 14.59
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11/18/97 QUE D 11000 14.54
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11/19/97 CEF D 21800 14.14
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11/19/97 CEF D 8400 14.19
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11/19/97 CEF D 9700 14.14
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11/19/97 CELP D 11600 14.14
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11/19/97 CELP D 8200 14.19
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11/19/97 CELP D 10900 14.14
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11/19/97 CELP D 7100 14.14
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11/19/97 CELP D 1100 14.14
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11/19/97 COGI D 1200 14.25
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11/19/97 COGI D 4500 14.19
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11/19/97 QUE D 2200 14.18
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11/19/97 QUE D 8300 14.13
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11/20/97 CEF D 9000 14.8
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11/20/97 CEF D 4216 14.8
- -----------------------------------------------------------------------------------------
11/20/97 CEF D 12000 14.8
</TABLE>
Page 5 of 8 Pages
<PAGE>
<TABLE>
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<S> <C> <C> <C> <C>
11/20/97 CEF D 13450 14.8
- -----------------------------------------------------------------------------------------
11/20/97 CEF D 500 14.8
- -----------------------------------------------------------------------------------------
11/20/97 CEF D 3000 14.8
- -----------------------------------------------------------------------------------------
11/20/97 CEF D 22900 14.8
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11/20/97 CEF D 8000 14.8
- -----------------------------------------------------------------------------------------
11/20/97 CEF D 10934 14.8
- -----------------------------------------------------------------------------------------
11/20/97 CELP D 17900 14.8
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11/20/97 CELP D 6500 14.8
- -----------------------------------------------------------------------------------------
11/20/97 CELP D 57600 14.8
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11/20/97 COGI D 12000 14.85
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11/20/97 QUE D 22000 14.8
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11/21/97 CEF D 1066 14.59
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11/21/97 CEF D 11534 14.59
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11/21/97 CELP D 12300 14.59
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11/21/97 COGI D 1800 14.65
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11/21/97 QUE D 3300 14.59
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11/24/97 CEF D 10500 14.14
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11/24/97 CELP D 10200 14.14
- -----------------------------------------------------------------------------------------
11/24/97 COGI D 1500 14.19
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11/24/97 QUE D 2800 14.13
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11/25/97 CEF D 4066 13.69
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11/25/97 CEF D 31500 13.47
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11/25/97 CEF D 28600 13.47
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11/25/97 CEF D 6534 13.69
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11/25/97 CELP D 10200 13.69
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11/25/97 CELP D 2100 13.47
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11/25/97 COGI D 1500 13.75
- -----------------------------------------------------------------------------------------
11/25/97 COGI D 4500 13.52
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11/25/97 QUE D 2100 13.68
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11/25/97 QUE D 600 13.68
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11/25/97 QUE D 8300 13.47
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12/01/97 CEF D 23900 12.78
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12/01/97 CELP D 23400 12.78
- -----------------------------------------------------------------------------------------
12/01/97 COGI D 3400 12.84
- -----------------------------------------------------------------------------------------
12/01/97 QUE D 6300 12.78
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12/02/97 CELP D 40600 12.87
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12/02/97 COG D 20200 12.92
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12/02/97 QUE D 3500 12.86
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12/02/97 QUE D 5800 12.86
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12/02/97 QUE D 4900 12.86
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12/03/97 CEF D 22000 13.38
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12/03/97 CEF D 7966 13.38
</TABLE>
Page 6 of 8 Pages
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<TABLE>
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
12/03/97 CEF D 2234 13.38
- -----------------------------------------------------------------------------------------
12/03/97 CELP D 10400 13.38
- -----------------------------------------------------------------------------------------
12/03/97 CELP D 19000 13.38
- -----------------------------------------------------------------------------------------
12/03/97 COG D 9500 13.43
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12/03/97 COGI D 2300 13.43
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12/03/97 QUE D 8600 13.38
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12/05/97 CEF D 18700 12.63
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12/05/97 CELP D 2200 14.07
- -----------------------------------------------------------------------------------------
12/05/97 CELP D 23000 14.07
- -----------------------------------------------------------------------------------------
12/05/97 QUE D 4400 14.07
- -----------------------------------------------------------------------------------------
12/05/97 QUE D 1700 14.07
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12/08/97 CEF D 3600 13.8
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12/08/97 CELP D 2000 13.8
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12/08/97 QUE D 600 13.78
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12/09/97 CEF D 8700 13.36
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12/09/97 CELP D 3000 13.36
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12/09/97 QUE D 1300 13.35
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12/10/97 CEF D 7000 13.54
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12/10/97 CELP D 10000 13.54
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12/10/97 QUE D 1600 13.53
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12/11/97 CEF D 9034 12.62
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12/11/97 CEF D 12966 12.62
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12/12/97 CEF D 5966 12.19
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12/12/97 CEF D 10000 12.29
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12/12/97 CEF D 28834 12.29
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12/12/97 CEF D 1166 12.29
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12/12/97 CEF D 4234 12.19
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12/12/97 CELP D 10800 12.19
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12/12/97 QUE D 4000 12.19
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</TABLE>
===============================================================================
* "PAL" as used herein means Palamundo, LDC
Page 7 of 8 Pages
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Signatures
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: January 16, 1998
CAMBRIDGE INVESTMENTS, LTD.
By:/s/Jocelyn E. Weingart,
Vice President
Page 8 of 8 Pages
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