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

Comstock Resources, Inc. (NYSE:CRK) VP Patrick Mcgough sold 48,915 shares of Comstock Resources stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $21.20, for a total value of $1,036,998.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Comstock Resources Trading Up 1.4%

Shares of Comstock Resources stock opened at $21.36 on Friday. The company’s 50-day moving average price is $21.47 and its 200-day moving average price is $20.74. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. Comstock Resources, Inc. has a 12-month low of $14.65 and a 12-month high of $31.17. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 15.15 and a beta of 0.40.

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

Wall Street Analyst Weigh In

CRK has been the subject of a number of recent analyst reports. Citigroup restated a “neutral” rating and set a $25.00 price target (up from $24.00) on shares of Comstock Resources in a research report on Wednesday, January 14th. UBS Group set a $17.00 price objective on Comstock Resources in a research report on Friday, February 13th. Bank of America cut Comstock Resources from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $27.00 to $24.00 in a research report on Friday, January 16th. Zacks Research upgraded Comstock Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comstock Resources in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Comstock Resources currently has an average rating of “Reduce” and an average price target of $21.00.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Comstock Resources by 3.7% in the 4th quarter. State Street Corp now owns 4,483,203 shares of the oil and gas producer’s stock worth $103,921,000 after buying an additional 161,093 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in shares of Comstock Resources during the 4th quarter worth $99,632,000. Bank of America Corp DE lifted its holdings in shares of Comstock Resources by 5.1% during the 3rd quarter. Bank of America Corp DE now owns 1,948,702 shares of the oil and gas producer’s stock worth $38,643,000 after acquiring an additional 94,856 shares during the last quarter. Woodline Partners LP grew its position in Comstock Resources by 50.5% in the third quarter. Woodline Partners LP now owns 1,231,916 shares of the oil and gas producer’s stock worth $24,429,000 after acquiring an additional 413,611 shares in the last quarter. Finally, Aventail Capital Group LP grew its position in Comstock Resources by 149.9% in the third quarter. Aventail Capital Group LP now owns 1,143,721 shares of the oil and gas producer’s stock worth $22,680,000 after acquiring an additional 686,002 shares in the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

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.