Insider Selling: Comstock Resources, Inc. (NYSE:CRK) Director Sells 10,000 Shares of Stock

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the transaction, the director now directly owns 143,781 shares in the company, valued at approximately $2,245,859.22. This represents a 6.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Comstock Resources Stock Performance

Comstock Resources stock traded up $0.85 during trading hours on Monday, hitting $16.67. The stock had a trading volume of 1,749,377 shares, compared to its average volume of 3,364,861. The company has a 50-day moving average of $13.93 and a two-hundred day moving average of $11.77. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $17.79. The company has a market cap of $4.87 billion, a PE ratio of -92.61 and a beta of 0.57.

Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, equities research analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price target for the company from $10.00 to $18.00 in a report on Monday, December 16th. Bank of America initiated coverage on shares of Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Citigroup upped their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. BMO Capital Markets raised their price target on Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Finally, Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.78.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. KGH Ltd increased its stake in Comstock Resources by 8.7% in the second quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock valued at $125,858,000 after acquiring an additional 975,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in Comstock Resources by 26.3% during the second quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock worth $121,414,000 after purchasing an additional 2,438,252 shares during the period. American Century Companies Inc. boosted its holdings in Comstock Resources by 19.0% during the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock valued at $23,567,000 after purchasing an additional 362,043 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 purchasing an additional 57,376 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Comstock Resources by 775.4% in the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock worth $9,086,000 after buying an additional 775,371 shares in the last quarter. 36.13% of the stock is owned by institutional investors.

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.