Comstock Resources (NYSE:CRK) VP Patrick Mcgough Sells 48,915 Shares of Stock

Comstock Resources, Inc. (NYSE:CRK) VP Patrick Mcgough sold 48,915 shares of Comstock Resources stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $21.20, for a total transaction of $1,036,998.00. Following the completion of the sale, the vice president directly owned 187,516 shares of the company’s stock, valued at $3,975,339.20. The trade was a 20.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Comstock Resources Trading Up 1.4%

Shares of CRK opened at $21.36 on Friday. Comstock Resources, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $31.17. The company has a market capitalization of $6.28 billion, a PE ratio of 15.15 and a beta of 0.40. The stock has a fifty day moving average of $21.47 and a two-hundred day moving average of $20.70. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.49.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. The business had revenue of $787.32 million for the quarter, compared to analysts’ expectations of $504.66 million. Comstock Resources had a return on equity of 6.30% and a net margin of 17.80%.The business’s revenue was up 115.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. As a group, analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRK. CreativeOne Wealth LLC increased its position in shares of Comstock Resources by 3.7% in the third quarter. CreativeOne Wealth LLC now owns 13,931 shares of the oil and gas producer’s stock worth $276,000 after acquiring an additional 500 shares in the last quarter. Natixis Advisors LLC boosted its position in Comstock Resources by 2.0% during the 4th quarter. Natixis Advisors LLC now owns 29,703 shares of the oil and gas producer’s stock worth $689,000 after purchasing an additional 572 shares during the period. Carrera Capital Advisors increased its holdings in Comstock Resources by 0.7% in the 4th quarter. Carrera Capital Advisors now owns 82,910 shares of the oil and gas producer’s stock valued at $1,922,000 after purchasing an additional 606 shares in the last quarter. Uhlmann Price Securities LLC increased its holdings in Comstock Resources by 2.4% in the 3rd quarter. Uhlmann Price Securities LLC now owns 27,653 shares of the oil and gas producer’s stock valued at $548,000 after purchasing an additional 650 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Comstock Resources by 12.1% in the fourth quarter. GAMMA Investing LLC now owns 6,303 shares of the oil and gas producer’s stock valued at $146,000 after purchasing an additional 679 shares during the period. 36.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on CRK. Piper Sandler lowered their price target on Comstock Resources from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, November 18th. Zacks Research raised shares of Comstock Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Bank of America downgraded shares of Comstock Resources from a “buy” rating to a “neutral” rating and lowered their target price for the company from $27.00 to $24.00 in a report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comstock Resources in a research note on Monday, December 29th. Finally, Citigroup reiterated a “neutral” rating and issued a $25.00 price target (up from $24.00) on shares of Comstock Resources in a report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $21.00.

Comstock Resources Company Profile

Comstock Resources, Inc is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties in the United States. The company focuses on generating long-term value through the efficient development of unconventional resource plays and conventional prospects. Its activities encompass drilling, completion and production operations, as well as the marketing of natural gas, natural gas liquids and crude oil.

Comstock holds a core position in the Haynesville Shale of Northwest Louisiana, one of the most active natural gas plays in North America, and has built a complementary portfolio in the Delaware Basin of West Texas.