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

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the sale, the director now directly owns 123,781 shares in the company, valued at $2,021,343.73. The trade was a 7.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Comstock Resources Trading Up 0.7 %

Shares of CRK opened at $16.79 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $4.91 billion, a price-to-earnings ratio of -93.27 and a beta of 0.57. The stock has a fifty day moving average price of $13.93 and a two-hundred day moving average price of $11.77. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $17.79.

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

Analysts Set New Price Targets

A number of research firms have weighed in on CRK. Truist Financial lifted their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Citigroup lifted their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Bank of America initiated coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price target for the company. Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a report on Tuesday, October 15th. Finally, Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.78.

Hedge Funds Weigh In On Comstock Resources

A number of large investors have recently modified their holdings of the stock. Doliver Advisors LP raised its position in Comstock Resources by 3.9% in the 3rd quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock worth $294,000 after purchasing an additional 988 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Comstock Resources by 4.8% in the 2nd quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock valued at $299,000 after buying an additional 1,330 shares during the period. Sunbelt Securities Inc. raised its position in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 1,400 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Comstock Resources by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 57,876 shares of the oil and gas producer’s stock valued at $601,000 after acquiring an additional 1,656 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Comstock Resources by 6.9% in the second quarter. Arizona State Retirement System now owns 28,630 shares of the oil and gas producer’s stock valued at $297,000 after acquiring an additional 1,848 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Company Profile

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.