Insider Selling: Comstock Resources, Inc. (NYSE:CRK) Director Sells $169,800.00 in Stock

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $16.98, for a total transaction of $169,800.00. Following the transaction, the director now owns 107,632 shares in the company, valued at approximately $1,827,591.36. This trade represents a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Comstock Resources Trading Up 2.6 %

NYSE:CRK opened at $17.09 on Monday. The company has a market cap of $4.99 billion, a P/E ratio of -94.94 and a beta of 0.57. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $17.79. 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 stock’s fifty day moving average price is $14.36 and its two-hundred day moving average price is $11.91.

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 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 company had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. During the same quarter in the prior year, the business earned $0.04 EPS. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. As a group, analysts expect that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CRK shares. Citigroup boosted their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. BMO Capital Markets upped their price objective on Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Bank of America initiated coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target for the company. Finally, Siebert Williams Shank lowered shares of 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. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.78.

Institutional Trading of Comstock Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its holdings in shares of Comstock Resources by 6.6% in the second quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the oil and gas producer’s stock worth $503,000 after purchasing an additional 3,000 shares during the period. Natixis Advisors LLC increased its stake in Comstock Resources by 37.2% in the 2nd quarter. Natixis Advisors LLC now owns 35,106 shares of the oil and gas producer’s stock worth $364,000 after acquiring an additional 9,520 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Comstock Resources during the 2nd quarter valued at about $116,000. Arizona State Retirement System grew its holdings in shares of Comstock Resources by 6.9% during the second quarter. Arizona State Retirement System now owns 28,630 shares of the oil and gas producer’s stock worth $297,000 after purchasing an additional 1,848 shares in the last quarter. Finally, Choreo LLC bought a new position in shares of Comstock Resources in the second quarter worth approximately $105,000. 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.