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 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 transaction, the director now 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 accessible through this hyperlink.

Comstock Resources Stock Down 5.5 %

CRK opened at $17.68 on Monday. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $19.25. The company’s 50-day moving average price is $15.03 and its two-hundred day moving average price is $12.16. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of -98.22 and a beta of 0.51. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data 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 analysts’ expectations of $308.75 million. During the same quarter in the previous year, the company posted $0.04 EPS. Comstock Resources’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, equities analysts expect that Comstock Resources, Inc. will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Comstock Resources

Several large investors have recently added to or reduced their stakes in CRK. Royce & Associates LP lifted its holdings in Comstock Resources by 79.2% during the third quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock valued at $7,677,000 after purchasing an additional 304,780 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $15,736,000 after buying an additional 57,376 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Comstock Resources during the 3rd quarter valued at approximately $419,000. Barclays PLC boosted its holdings 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 worth $1,731,000 after buying an additional 111,934 shares during the period. Finally, Goehring & Rozencwajg Associates LLC grew its stake in Comstock Resources by 27.8% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer’s stock valued at $7,095,000 after buying an additional 148,700 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CRK shares. BMO Capital Markets upped their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Citigroup raised their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Bank of America assumed coverage on Comstock Resources in a research note on Monday, October 28th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a research note on Tuesday, October 15th. 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 company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.78.

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.