Comstock Resources, Inc. (NYSE:CRK) Director Morris E. Foster Buys 8,000 Shares

Comstock Resources, Inc. (NYSE:CRKGet Rating) Director Morris E. Foster bought 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were acquired at an average cost of $18.18 per share, for a total transaction of $145,440.00. Following the purchase, the director now directly owns 152,084 shares in the company, valued at approximately $2,764,887.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Comstock Resources Trading Down 10.4 %

Shares of Comstock Resources stock traded down $1.89 on Friday, reaching $16.22. The company had a trading volume of 5,004,015 shares, compared to its average volume of 3,845,845. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 17.93 and a beta of 1.32. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.55 and a quick ratio of 0.55. The firm’s 50-day moving average price is $17.42 and its two-hundred day moving average price is $15.78. Comstock Resources, Inc. has a 1 year low of $6.88 and a 1 year high of $22.11.

Comstock Resources (NYSE:CRKGet Rating) last announced its earnings results on Monday, August 1st. The oil and gas producer reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The firm had revenue of $946.25 million during the quarter, compared to analysts’ expectations of $627.80 million. Comstock Resources had a return on equity of 63.77% and a net margin of 12.80%. The company’s quarterly revenue was up 175.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, research analysts predict that Comstock Resources, Inc. will post 3.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mirabella Financial Services LLP boosted its holdings in Comstock Resources by 1,912.7% during the 4th quarter. Mirabella Financial Services LLP now owns 2,621,782 shares of the oil and gas producer’s stock valued at $3,207,000 after acquiring an additional 2,491,522 shares during the period. Vanguard Group Inc. boosted its holdings in Comstock Resources by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 7,227,385 shares of the oil and gas producer’s stock valued at $94,318,000 after acquiring an additional 1,152,570 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in Comstock Resources by 51.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,202,908 shares of the oil and gas producer’s stock valued at $25,911,000 after acquiring an additional 1,084,309 shares during the period. Long Focus Capital Management LLC purchased a new position in Comstock Resources during the 4th quarter valued at $8,130,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Comstock Resources by 485.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,071,046 shares of the oil and gas producer’s stock valued at $12,938,000 after acquiring an additional 888,106 shares during the period. Hedge funds and other institutional investors own 34.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Comstock Resources from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, September 12th. Citigroup lifted their target price on Comstock Resources from $17.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp began coverage on Comstock Resources in a report on Monday. They set an “overweight” rating and a $26.00 price target for the company. The Goldman Sachs Group raised their price target on Comstock Resources from $12.00 to $13.50 and gave the company a “sell” rating in a report on Monday, August 22nd. Finally, Piper Sandler upgraded Comstock Resources from an “underweight” rating to a “neutral” rating and raised their price target for the company from $16.00 to $17.00 in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.88.

Comstock Resources Company Profile

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Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves.

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