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 the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.62, for a total transaction of $156,200.00. Following the completion of the sale, the director now directly owns 143,781 shares in the company, valued at approximately $2,245,859.22. The trade was a 6.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Comstock Resources Trading Up 5.4 %

NYSE:CRK traded up $0.85 on Monday, hitting $16.67. 1,749,377 shares of the stock were exchanged, compared to its average volume of 3,364,861. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of -92.61 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. The company’s 50-day moving average price is $13.93 and its 200 day moving average price is $11.77.

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 (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $304.50 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 earnings per share. On average, equities research analysts forecast that Comstock Resources, Inc. will post -0.44 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on CRK. BMO Capital Markets upped their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Bank of America assumed coverage on Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a report on Tuesday, October 15th. Truist Financial boosted their price objective on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, Citigroup raised their target price 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.78.

Institutional Trading of Comstock Resources

Large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in Comstock Resources during the third quarter worth about $25,000. 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 purchasing an additional 1,400 shares during the period. Blue Trust Inc. bought a new position in shares of Comstock Resources during the 2nd quarter valued at about $32,000. EverSource Wealth Advisors LLC grew its position 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 period. Finally, Choreo LLC bought a new stake in Comstock Resources during the 2nd quarter worth approximately $105,000. Institutional investors own 36.13% of the company’s stock.

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.