Comstock Resources, Inc. (NYSE:CRK) Director Sells $163,300.00 in Stock

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the transaction, the director now directly owns 123,781 shares in the company, valued at approximately $2,021,343.73. This represents a 7.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Comstock Resources Trading Up 0.7 %

Shares of CRK opened at $16.79 on Thursday. Comstock Resources, Inc. has a 12 month low of $7.07 and a 12 month high of $17.79. The stock’s 50-day moving average is $14.04 and its two-hundred day moving average is $11.81. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $4.91 billion, a PE ratio of -93.27 and a beta of 0.57.

Comstock Resources (NYSE:CRK) last released 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 analyst estimates of $308.75 million. During the same period last year, the firm posted $0.04 earnings per share. The business’s revenue was down 19.2% on a year-over-year basis. Equities analysts forecast that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in Comstock Resources in the 3rd quarter worth $25,000. Sunbelt Securities Inc. increased 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 acquiring an additional 1,400 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of Comstock Resources in the second quarter worth about $32,000. EverSource Wealth Advisors LLC boosted its holdings in Comstock Resources by 2,533.8% in the second 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. Finally, Choreo LLC acquired a new stake in Comstock Resources during the 2nd quarter valued at approximately $105,000. 36.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Bank of America began coverage on Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 target price for the company. Truist Financial increased their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. BMO Capital Markets upped their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Citigroup increased their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Mizuho upgraded 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. Four 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.