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 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 sale, the director now directly owns 107,632 shares in the company, valued at approximately $1,827,591.36. The trade was a 8.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Comstock Resources Stock Up 2.6 %

Comstock Resources stock opened at $17.09 on Friday. 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 $4.99 billion, a PE ratio of -94.94 and a beta of 0.57. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The business’s 50-day simple moving average is $14.36 and its two-hundred day simple moving average is $11.91.

Comstock Resources (NYSE:CRK) last issued 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 return on equity of 3.88% and a negative net margin of 4.93%. The business had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. During the same quarter last year, the company posted $0.04 EPS. Comstock Resources’s quarterly revenue was down 19.2% compared to the same quarter last year. Equities analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Royce & Associates LP boosted its holdings in 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 purchasing an additional 304,780 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 57,376 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Comstock Resources in the third quarter worth about $419,000. Goehring & Rozencwajg Associates LLC grew its holdings in Comstock Resources by 27.8% during the second 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 during the period. Finally, HITE Hedge Asset Management LLC purchased a new position in Comstock Resources during the second quarter valued at approximately $6,544,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CRK shares. BMO Capital Markets increased 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 report on Friday, October 4th. Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a research note on Tuesday, October 15th. Bank of America assumed coverage on Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Truist Financial increased their price objective on Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Citigroup upped their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average 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.