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

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the transaction, the director now directly owns 123,781 shares in the company, valued at approximately $2,021,343.73. The trade was a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Comstock Resources Stock Up 0.7 %

Comstock Resources stock opened at $16.79 on Wednesday. The company has a 50 day moving average of $13.93 and a 200-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 twelve month low of $7.07 and a twelve month high of $17.79. The stock has a market capitalization of $4.91 billion, a PE ratio of -93.27 and a beta of 0.57.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Comstock Resources in the 3rd quarter valued at approximately $25,000. Sunbelt Securities Inc. raised its holdings in shares of 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 purchasing an additional 1,400 shares during the last quarter. Blue Trust Inc. bought a new stake in shares of Comstock Resources in the second quarter worth $32,000. EverSource Wealth Advisors LLC boosted its holdings in Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 3,446 shares during the last quarter. Finally, Choreo LLC bought a new position in Comstock Resources in the second quarter valued at $105,000. 36.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CRK shares. Mizuho raised 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 research note on Monday, December 16th. Citigroup raised 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. 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 price target for the company. Truist Financial increased their price target on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Siebert Williams Shank cut shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a report on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.78.

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.