Comstock Resources (NYSE:CRK) Stock Price Down 7.6%

Comstock Resources, Inc. (NYSE:CRK - Get Free Report) shares dropped 7.6% during trading on Wednesday . The stock traded as low as $10.07 and last traded at $10.19. Approximately 2,110,032 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 3,922,510 shares. The stock had previously closed at $11.03.

Wall Street Analyst Weigh In

CRK has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a "sell" rating in a report on Tuesday, May 28th. Truist Financial boosted their target price on Comstock Resources from $8.00 to $9.00 and gave the stock a "hold" rating in a report on Monday, July 22nd. KeyCorp initiated coverage on Comstock Resources in a report on Thursday, June 27th. They issued a "sector weight" rating on the stock. Wolfe Research initiated coverage on Comstock Resources in a report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Finally, Capital One Financial downgraded Comstock Resources from an "overweight" rating to an "equal weight" rating in a report on Wednesday, May 15th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $9.75.

Comstock Resources Stock Down 7.6 %

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.64 and a current ratio of 0.59. The firm's 50-day moving average is $10.33 and its two-hundred day moving average is $9.87. The stock has a market cap of $2.98 billion, a P/E ratio of 46.32 and a beta of 0.51.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The company had revenue of $246.80 million during the quarter, compared to the consensus estimate of $296.02 million. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The business's revenue was down 14.4% on a year-over-year basis. On average, equities research analysts anticipate that Comstock Resources, Inc. will post -0.13 earnings per share for the current year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 825,000 shares of the company's stock in a transaction on Monday, August 5th. The stock was bought at an average price of $8.16 per share, for a total transaction of $6,732,000.00. Following the transaction, the insider now owns 195,646,429 shares of the company's stock, valued at approximately $1,596,474,860.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 825,000 shares of the company's stock in a transaction on Monday, August 5th. The stock was bought at an average price of $8.16 per share, for a total transaction of $6,732,000.00. Following the transaction, the insider now owns 195,646,429 shares of the company's stock, valued at approximately $1,596,474,860.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Drilling L.P. Arkoma acquired 825,868 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $9.76 per share, with a total value of $8,060,471.68. Following the transaction, the insider now owns 198,949,901 shares in the company, valued at $1,941,751,033.76. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 6,712,733 shares of company stock worth $67,816,851. Insiders own 1.50% of the company's stock.

Institutional Trading of Comstock Resources

A number of large investors have recently made changes to their positions in the company. ProShare Advisors LLC increased its position in shares of Comstock Resources by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer's stock valued at $172,000 after buying an additional 1,276 shares in the last quarter. GAMMA Investing LLC boosted its stake in Comstock Resources by 27.5% in the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer's stock worth $63,000 after purchasing an additional 1,312 shares during the period. XTX Topco Ltd boosted its stake in Comstock Resources by 4.8% in the 2nd quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer's stock worth $299,000 after purchasing an additional 1,330 shares during the period. Simplicity Wealth LLC boosted its stake in Comstock Resources by 5.7% in the 2nd quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer's stock worth $296,000 after purchasing an additional 1,552 shares during the period. Finally, Outfitter Financial LLC boosted its stake in Comstock Resources by 5.0% in the 4th quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer's stock worth $304,000 after purchasing an additional 1,630 shares during the period. Institutional investors own 36.13% of the company's stock.

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.