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

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $16.98, for a total value of $169,800.00. Following the completion of the transaction, the director now owns 107,632 shares in the company, valued at approximately $1,827,591.36. The trade was a 8.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Comstock Resources Stock Performance

NYSE:CRK opened at $17.09 on Friday. The business’s fifty day moving average is $14.24 and its 200 day moving average is $11.88. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of -94.94 and a beta of 0.57. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $17.79.

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

Institutional Trading of Comstock Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its position in shares of Comstock Resources by 6.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the oil and gas producer’s stock valued at $503,000 after purchasing an additional 3,000 shares in the last quarter. Natixis Advisors LLC increased its stake in Comstock Resources by 37.2% in the 2nd quarter. Natixis Advisors LLC now owns 35,106 shares of the oil and gas producer’s stock worth $364,000 after acquiring an additional 9,520 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Comstock Resources in the 2nd quarter valued at about $116,000. Arizona State Retirement System raised its holdings in shares of Comstock Resources by 6.9% in the 2nd 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 in the last quarter. Finally, Choreo LLC bought a new stake in shares of Comstock Resources during the 2nd quarter valued at about $105,000. Institutional investors own 36.13% of the company’s stock.

Analyst Ratings Changes

CRK has been the topic of a number of research reports. Truist Financial upped their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $18.00 in a report on Monday, December 16th. BMO Capital Markets lifted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Bank of America began coverage on shares of Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Citigroup lifted their price target on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.78.

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.