Comstock Resources, Inc. (NYSE:CRK) Director Sells $169,800.00 in Stock

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

Comstock Resources Stock Performance

Shares of NYSE CRK traded up $0.43 during trading on Friday, reaching $17.09. 1,309,654 shares of the company traded hands, compared to its average volume of 3,338,811. The stock has a market cap of $4.99 billion, a P/E ratio of -94.94 and a beta of 0.57. The firm’s fifty day simple moving average is $14.24 and its 200 day simple moving average is $11.88. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $17.79.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. 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 business posted $0.04 earnings per share. The firm’s revenue was down 19.2% compared to the same quarter last year. As a group, research analysts anticipate that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

Several large investors have recently made changes to their positions in CRK. Royce & Associates LP increased its position in shares of Comstock Resources by 79.2% in the third quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock valued at $7,677,000 after buying an additional 304,780 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Comstock Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after acquiring an additional 57,376 shares during the period. Intech Investment Management LLC acquired a new stake in Comstock Resources in the 3rd quarter valued at $419,000. Goehring & Rozencwajg Associates LLC increased its holdings in Comstock Resources by 27.8% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer’s stock worth $7,095,000 after acquiring an additional 148,700 shares in the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new position in Comstock Resources during the second quarter worth $6,544,000. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on CRK. Siebert Williams Shank downgraded 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. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Truist Financial upped 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. Citigroup lifted their price objective 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, Bank of America began coverage on Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.