Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis Sells 8,000 Shares

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 8,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.17, for a total value of $145,360.00. Following the sale, the director now owns 99,632 shares in the company, valued at $1,810,313.44. This trade represents a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Comstock Resources Price Performance

NYSE:CRK opened at $17.68 on Friday. The stock has a 50 day moving average price of $15.03 and a 200 day moving average price of $12.15. The stock has a market cap of $5.17 billion, a PE ratio of -98.22 and a beta of 0.51. 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 one year low of $7.07 and a one year high of $19.25.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS 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 company had revenue of $304.50 million for the quarter, compared to analysts’ expectations of $308.75 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm’s revenue was down 19.2% on a year-over-year basis. Equities research analysts expect that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CRK shares. 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. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $10.00 to $18.00 in a research report on Monday, December 16th. Bank of America initiated 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 for the company. Citigroup lifted their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a research note on Tuesday, October 15th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.78.

Hedge Funds Weigh In On Comstock Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Comstock Resources during the 3rd quarter valued at approximately $25,000. Sunbelt Securities Inc. raised its position in Comstock Resources by 140.0% in the third 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 period. EverSource Wealth Advisors LLC lifted its stake in shares of Comstock Resources by 2,533.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 3,446 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Comstock Resources by 116.3% during the 3rd quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 3,611 shares during the period. Finally, Choreo LLC acquired a new stake in shares of Comstock Resources during the 2nd quarter worth about $105,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

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.