Insider Selling: Comstock Resources, Inc. (NYSE:CRK) Director Sells 8,000 Shares of Stock

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) Director Elizabeth B. Davis sold 8,000 shares of the company's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.17, for a total transaction of $145,360.00. Following the completion of the sale, the director now directly owns 99,632 shares of the company's stock, valued at approximately $1,810,313.44. This trade represents a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Comstock Resources Stock Performance

CRK stock traded down $1.02 during trading on Friday, reaching $17.68. The company had a trading volume of 2,694,042 shares, compared to its average volume of 2,395,421. 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 $19.25. The company has a market cap of $5.17 billion, a price-to-earnings ratio of -98.22 and a beta of 0.51. The firm has a 50-day simple moving average of $15.03 and a 200-day simple moving average of $12.15.

Comstock Resources (NYSE:CRK - Get Free Report) 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). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. During the same period last year, the firm earned $0.04 EPS. The company's revenue for the quarter was down 19.2% compared to the same quarter last year. As a group, sell-side analysts expect that Comstock Resources, Inc. will post -0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CRK has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Monday, September 30th. Bank of America initiated 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. 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. Citigroup boosted their target price on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, Siebert Williams Shank cut shares of Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price target on the stock. in a report on Tuesday, October 15th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $11.78.

Institutional Trading of Comstock Resources

Large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new stake in Comstock Resources during the third quarter worth about $25,000. Sunbelt Securities Inc. boosted its position in Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer's stock worth $27,000 after purchasing an additional 1,400 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Comstock Resources by 2,533.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 3,446 shares during the period. Blue Trust Inc. increased its holdings in shares of Comstock Resources by 116.3% during the 3rd quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer's stock valued at $70,000 after purchasing an additional 3,611 shares in the last quarter. Finally, Choreo LLC purchased a new stake in Comstock Resources during the second quarter worth $105,000. 36.13% of the stock is owned by hedge funds and other 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.