Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis Sells 10,000 Shares of Stock

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total transaction of $156,200.00. Following the sale, the director now owns 143,781 shares in the company, valued at approximately $2,245,859.22. This trade represents a 6.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Comstock Resources Trading Up 5.4 %

NYSE:CRK opened at $16.67 on Tuesday. The company has a market cap of $4.87 billion, a PE ratio of -92.61 and a beta of 0.57. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The company has a 50 day simple moving average of $13.93 and a two-hundred day simple moving average of $11.77. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $17.79.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The business had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. During the same quarter last year, the company earned $0.04 EPS. Comstock Resources’s revenue for the quarter was down 19.2% on a year-over-year basis. Research analysts forecast that Comstock Resources, Inc. will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRK. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a research report on Tuesday, October 15th. Bank of America began coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Citigroup boosted their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, BMO Capital Markets upped their price target on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.78.

Institutional Trading of Comstock Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. KGH Ltd boosted its position in shares of Comstock Resources by 8.7% in the second quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock worth $125,858,000 after purchasing an additional 975,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in Comstock Resources by 26.3% during the second quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock valued at $121,414,000 after buying an additional 2,438,252 shares during the last quarter. American Century Companies Inc. increased its position in Comstock Resources by 19.0% in the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock worth $23,567,000 after purchasing an additional 362,043 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Comstock Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock worth $15,736,000 after buying an additional 57,376 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Comstock Resources by 775.4% in the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock valued at $9,086,000 after purchasing an additional 775,371 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.