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 on Friday, December 27th. The shares were 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 directly owns 107,632 shares in the company, valued at approximately $1,827,591.36. This represents a 8.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Comstock Resources Price Performance

Shares of CRK stock opened at $17.09 on Monday. 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 firm has a market cap of $4.99 billion, a P/E ratio of -94.94 and a beta of 0.57. The business’s 50 day moving average price is $14.36 and its 200-day moving average price is $11.91. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week 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 (EPS) 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 posted $0.04 earnings per share. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, equities research analysts anticipate that Comstock Resources, Inc. will post -0.44 earnings per share for the current year.

Analysts Set New Price Targets

CRK has been the topic of several recent research reports. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research report on Tuesday, October 15th. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Bank of America initiated coverage on shares of Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective for the company. Citigroup lifted their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, BMO Capital Markets upped their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Comstock Resources currently has an average rating of “Hold” and a consensus target price of $11.78.

Institutional Trading of Comstock Resources

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

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.