Elizabeth B. Davis Sells 8,000 Shares of Comstock Resources, Inc. (NYSE:CRK) Stock

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

Comstock Resources Price Performance

CRK stock traded down $0.93 during trading on Friday, hitting $17.77. The company had a trading volume of 1,405,339 shares, compared to its average volume of 1,701,696. The company has a fifty day moving average price of $14.91 and a two-hundred day moving average price of $12.10. Comstock Resources, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $19.25. The company has a market cap of $5.19 billion, a P/E ratio of -98.72 and a beta of 0.57. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25.

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 net margin of 4.93% and a negative return on equity of 3.88%. The firm had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. During the same quarter in the prior year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. Equities research analysts expect that Comstock Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRK. JPMorgan Chase & Co. boosted its stake in Comstock Resources by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer’s stock worth $1,896,000 after purchasing an additional 13,998 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Comstock Resources in the third quarter valued at about $169,000. Barclays PLC lifted its position in Comstock Resources by 256.3% during the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock worth $1,731,000 after buying an additional 111,934 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 1,400 shares during the last quarter. Finally, XTX Topco Ltd increased its position in Comstock Resources by 74.1% in the 3rd quarter. XTX Topco Ltd now owns 50,127 shares of the oil and gas producer’s stock valued at $558,000 after acquiring an additional 21,336 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CRK. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Citigroup upped 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. Bank of America began coverage on Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 target price on the stock. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a report on Tuesday, October 15th. Finally, BMO Capital Markets lifted their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.