Cecil E. Martin, Jr. Acquires 5,500 Shares of Comstock Resources Inc. (CRK) Stock
Comstock Resources Inc. (NYSE:CRK) Director Cecil E. Martin, Jr. purchased 5,500 shares of the stock in a transaction on Tuesday, November 15th. The stock was bought at an average cost of $8.95 per share, for a total transaction of $49,225.00. Following the completion of the acquisition, the director now owns 34,524 shares in the company, valued at $308,989.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Comstock Resources Inc. (NYSE:CRK) traded up 3.94% during midday trading on Friday, reaching $8.70. 80,956 shares of the company’s stock traded hands. Comstock Resources Inc. has a 52-week low of $2.64 and a 52-week high of $13.70. The company’s 50-day moving average price is $8.70 and its 200-day moving average price is $5.82. The stock’s market cap is $108.78 million.
Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, November 8th. The company reported ($3.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.45) by $0.82. Comstock Resources had a negative net margin of 210.50% and a negative return on equity of 202.37%. The business had revenue of $50.33 million for the quarter, compared to the consensus estimate of $44.98 million. During the same period in the prior year, the business posted ($5.30) EPS. Comstock Resources’s revenue for the quarter was down 18.0% on a year-over-year basis. On average, equities analysts predict that Comstock Resources Inc. will post ($13.26) EPS for the current fiscal year.
CRK has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Comstock Resources from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Imperial Capital raised their target price on shares of Comstock Resources from $3.75 to $8.50 and gave the company an “in-line” rating in a research report on Friday, October 7th. Stifel Nicolaus reiterated a “hold” rating on shares of Comstock Resources in a report on Wednesday, August 31st. Finally, Robert W. Baird lifted their price target on shares of Comstock Resources from $6.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 15th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.38.
Institutional investors have recently added to or reduced their stakes in the stock. Phoenix Investment Adviser LLC acquired a new position in Comstock Resources during the second quarter valued at approximately $1,603,000. Spark Investment Management LLC purchased a new stake in shares of Comstock Resources during the second quarter valued at $313,000. Mariner Investment Group LLC purchased a new stake in shares of Comstock Resources during the second quarter valued at $237,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Comstock Resources during the second quarter valued at $229,000. Finally, California Public Employees Retirement System boosted its stake in shares of Comstock Resources by 10.4% in the second quarter. California Public Employees Retirement System now owns 1,641,256 shares of the company’s stock valued at $1,379,000 after buying an additional 154,700 shares during the last quarter.
Comstock Resources Company Profile
Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.
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