Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis Sells 10,000 Shares of Stock

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction dated 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 owns 107,632 shares in the company, valued at $1,827,591.36. This trade represents a 8.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Comstock Resources Stock Up 2.6 %

Shares of NYSE CRK opened at $17.09 on Friday. The company has a 50 day simple moving average of $14.24 and a 200 day simple moving average of $11.88. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $17.79. The firm has a market cap of $4.99 billion, a PE ratio of -94.94 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The business had revenue of $304.50 million for the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. Comstock Resources’s revenue was down 19.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. On average, research analysts forecast that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Analyst Ratings Changes

CRK has been the subject of several research analyst reports. 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 report on Monday, September 30th. Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and raised their target price for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Bank of America started coverage on shares of Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 price target for the company. 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 note on Friday, October 4th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.78.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Comstock Resources in the third quarter valued at about $25,000. Sunbelt Securities Inc. boosted its holdings 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 acquiring an additional 1,400 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Comstock Resources by 2,533.8% during 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. Blue Trust Inc. increased its position in 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 valued at $70,000 after purchasing an additional 3,611 shares during the period. Finally, Choreo LLC bought a new position in Comstock Resources during the 2nd quarter worth approximately $105,000. 36.13% of the stock is owned by 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.