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 that occurred on Friday, December 27th. The shares were sold at an average price of $16.98, for a total value of $169,800.00. Following the completion of the sale, the director now directly owns 107,632 shares of the company’s stock, valued at $1,827,591.36. The trade was a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Comstock Resources Stock Up 2.6 %

Shares of CRK traded up $0.43 during mid-day trading on Friday, hitting $17.09. The company’s stock had a trading volume of 1,309,654 shares, compared to its average volume of 3,338,811. 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’s 50-day moving average is $14.24 and its 200-day moving average is $11.88. Comstock Resources, Inc. has a 52-week low of $7.07 and a 52-week high of $17.79. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of -94.94 and a beta of 0.57.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS 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 business’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period last year, the firm earned $0.04 EPS. On average, equities research analysts forecast that Comstock Resources, Inc. will post -0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRK. BMO Capital Markets raised their price target 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. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Citigroup boosted their price objective on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Bank of America started coverage on Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Truist Financial lifted their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Four 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 stock. According to data from MarketBeat.com, Comstock Resources currently has an average rating of “Hold” and an average price target of $11.78.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in 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 purchasing an additional 2,438,252 shares in the last quarter. KGH Ltd boosted its holdings in shares of 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 valued at $125,858,000 after buying an additional 975,000 shares in the last quarter. Millennium Management LLC grew its position in shares of Comstock Resources by 775.4% in the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock worth $9,086,000 after buying an additional 775,371 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Comstock Resources during the 2nd quarter worth approximately $6,544,000. Finally, American Century Companies Inc. lifted its position in Comstock Resources by 19.0% during the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock valued at $23,567,000 after acquiring an additional 362,043 shares during the last quarter. 36.13% of the stock is owned by institutional investors.

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.