Insider Selling: Comstock Resources, Inc. (NYSE:CRK) Director Sells $145,360.00 in Stock

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 8,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.17, for a total transaction of $145,360.00. Following the transaction, the director now owns 99,632 shares in the company, valued at $1,810,313.44. This represents a 7.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $17.68 on Friday. The firm’s 50 day simple moving average is $15.03 and its two-hundred day simple moving average is $12.15. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $5.17 billion, a P/E ratio of -98.22 and a beta of 0.51. Comstock Resources, Inc. has a 1-year low of $7.07 and a 1-year high of $19.25.

Comstock Resources (NYSE:CRK) last issued its 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). The firm had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 EPS. Research analysts expect that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research note on Tuesday, October 15th. Bank of America initiated coverage on Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price objective for the company. BMO Capital Markets raised their target price on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Finally, 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 report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $11.78.

Institutional Trading of Comstock Resources

Several institutional investors have recently made changes to their positions in the business. KGH Ltd lifted its holdings in Comstock Resources by 8.7% in the 2nd quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock worth $125,858,000 after purchasing an additional 975,000 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 valued at $121,414,000 after buying an additional 2,438,252 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Comstock Resources by 19.0% in the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock worth $23,567,000 after buying an additional 362,043 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Comstock Resources by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock worth $15,736,000 after acquiring an additional 57,376 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Comstock Resources by 775.4% during the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock valued at $9,086,000 after acquiring an additional 775,371 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.