Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis Sells 10,000 Shares

Comstock Resources, Inc. (NYSE:CRK) Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the completion of the sale, the director now owns 123,781 shares in the company, valued at approximately $2,021,343.73. The trade was a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Comstock Resources Stock Up 5.4 %

NYSE:CRK traded up $0.85 during mid-day trading on Monday, hitting $16.67. 1,749,377 shares of the company’s stock traded hands, compared to its average volume of 3,364,861. The company has a fifty day moving average of $13.93 and a 200 day moving average of $11.77. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. Comstock Resources, Inc. has a twelve month low of $7.07 and a twelve month high of $17.79. The company has a market capitalization of $4.87 billion, a P/E ratio of -92.61 and a beta of 0.57.

Comstock Resources (NYSE:CRK) last released its earnings results 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 company had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share. On average, analysts forecast that Comstock Resources, Inc. will post -0.44 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Comstock Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Comstock Resources by 26.3% in 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 buying an additional 2,438,252 shares during the last quarter. KGH Ltd lifted its stake in Comstock Resources by 8.7% during 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 acquiring an additional 975,000 shares during the period. Millennium Management LLC boosted its holdings 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 valued at $9,086,000 after acquiring an additional 775,371 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new position in shares of Comstock Resources during the second quarter worth $6,544,000. Finally, American Century Companies Inc. raised its holdings in shares of 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 worth $23,567,000 after purchasing an additional 362,043 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors and hedge funds.

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.