Stock Traders Buy Large Volume of Call Options on Comstock Resources (NYSE:CRK)

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) was the target of some unusual options trading on Friday. Stock investors bought 13,647 call options on the company. This is an increase of approximately 269% compared to the average volume of 3,701 call options.

Insider Activity

In related news, 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 transaction of $163,300.00. Following the completion of the sale, the director now owns 123,781 shares in the company, valued at $2,021,343.73. This represents a 7.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 38,000 shares of company stock valued at $634,660. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. lifted its holdings in Comstock Resources by 140.0% during the third 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 in the last quarter. VSM Wealth Advisory LLC bought a new position in Comstock Resources during the fourth quarter worth about $27,000. Sterling Capital Management LLC lifted its holdings in shares of Comstock Resources by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer's stock valued at $54,000 after purchasing an additional 2,631 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Comstock Resources by 225.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 2,326 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Comstock Resources in the fourth quarter valued at about $70,000. 36.13% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

CRK has been the subject of several recent analyst reports. Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the company a "neutral" rating in a research note on Friday, December 6th. Truist Financial raised their price objective on Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Mizuho upgraded 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 report on Monday, December 16th. StockNews.com raised Comstock Resources to a "sell" rating in a report on Thursday, February 20th. Finally, Williams Trading set a $13.00 target price on Comstock Resources in a report on Wednesday, March 5th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $13.36.

Comstock Resources Trading Up 1.6 %

Shares of NYSE:CRK traded up $0.30 during midday trading on Tuesday, hitting $19.14. The company had a trading volume of 678,189 shares, compared to its average volume of 2,448,319. Comstock Resources has a 12 month low of $7.74 and a 12 month high of $22.06. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of -25.18, a PEG ratio of 1.65 and a beta of 0.55. The firm has a fifty day simple moving average of $19.07 and a 200 day simple moving average of $15.24.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.14. The business had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. On average, analysts predict that Comstock Resources will post 0.54 EPS for the current year.

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.