Insider Selling: Comstock Resources, Inc. (NYSE:CRK) Director Sells 10,000 Shares of Stock

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction on Friday, December 27th. The shares were sold at an average price of $16.98, for a total transaction of $169,800.00. Following the completion of the transaction, the director now directly owns 107,632 shares of the company’s stock, valued at $1,827,591.36. The trade was a 8.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Comstock Resources Trading Up 2.6 %

Shares of CRK opened at $17.09 on Friday. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $17.79. The stock has a market cap of $4.99 billion, a PE ratio of -94.94 and a beta of 0.57. The firm’s fifty day moving average is $14.36 and its two-hundred day moving average is $11.91. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25.

Comstock Resources (NYSE:CRK) last posted its quarterly 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). The business 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 business’s revenue was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Research analysts forecast that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Comstock Resources

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in Comstock Resources by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer’s stock worth $1,896,000 after buying an additional 13,998 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Comstock Resources during the third quarter worth $169,000. Barclays PLC raised its position in Comstock Resources by 256.3% in the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after purchasing an additional 111,934 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,400 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Comstock Resources by 74.1% during the 3rd quarter. XTX Topco Ltd now owns 50,127 shares of the oil and gas producer’s stock worth $558,000 after purchasing an additional 21,336 shares during the period. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

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.