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 business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.17, for a total transaction of $145,360.00. Following the sale, the director now directly owns 99,632 shares in the company, valued at approximately $1,810,313.44. The trade was a 7.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Comstock Resources Stock Performance

Shares of Comstock Resources stock opened at $17.68 on Monday. The business has a 50-day moving average price of $15.03 and a two-hundred day moving average price of $12.16. Comstock Resources, Inc. has a 1-year low of $7.07 and a 1-year high of $19.25. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The company has a market cap of $5.17 billion, a P/E ratio of -98.22 and a beta of 0.51.

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 analysts’ consensus estimates of ($0.16) by ($0.01). The business 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 revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share. As a group, analysts anticipate that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research report on Tuesday, October 15th. BMO Capital Markets boosted their price target on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $10.00 to $18.00 in a report on Monday, December 16th. Truist Financial boosted their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, Citigroup raised their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Comstock Resources currently has a consensus rating of “Hold” and a consensus price target of $11.78.

Institutional Trading of Comstock Resources

Several hedge funds have recently modified their holdings of CRK. Royce & Associates LP grew 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 worth $7,677,000 after purchasing an additional 304,780 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Comstock Resources by 4.2% during the 3rd 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 purchasing an additional 57,376 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Comstock Resources in the 3rd quarter valued at about $419,000. Barclays PLC increased its position in Comstock Resources by 256.3% in the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after buying an additional 111,934 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC raised its stake in Comstock Resources by 27.8% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer’s stock worth $7,095,000 after buying an additional 148,700 shares during the period. Institutional investors own 36.13% of the company’s stock.

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.