Key Points
- Insider sale: VP Patrick Mcgough sold 48,915 shares on March 5 at an average price of $21.20 for about $1.037 million, trimming his stake by 20.69% to 187,516 shares; the transaction was disclosed in an SEC filing.
- Recent results and outlook: Comstock beat Q expectations with $0.16 EPS (vs. $0.11 est.) and $787.3M revenue (up 115.5% YoY), while the stock trades with a $6.28B market cap and a MarketBeat consensus rating of Reduce with a $21 target.
Comstock Resources, Inc. (NYSE:CRK - Get Free Report) VP Patrick Mcgough sold 48,915 shares of the 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 completion of the sale, the vice president owned 187,516 shares of the company's stock, valued at approximately $3,975,339.20. This trade represents a 20.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Comstock Resources Stock Performance
Comstock Resources stock opened at $21.36 on Friday. The firm has a market capitalization of $6.28 billion, a PE ratio of 15.15 and a beta of 0.40. Comstock Resources, Inc. has a one year low of $14.65 and a one year high of $31.17. The stock's 50 day moving average price is $21.47 and its 200 day moving average price is $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 - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The oil and gas producer reported $0.16 earnings per share (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 the consensus estimate 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 last year, the company earned $0.16 earnings per share. As a group, sell-side analysts expect that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position 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 purchasing an additional 161,093 shares during the last quarter. Dragoneer Investment Group LLC acquired a new position in Comstock Resources in the fourth quarter worth about $99,632,000. Bank of America Corp DE grew its stake in Comstock Resources by 5.1% in the third 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 purchasing an additional 94,856 shares in the last quarter. Woodline Partners LP increased its holdings 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 valued at $24,429,000 after buying an additional 413,611 shares during the last quarter. Finally, Aventail Capital Group LP increased its holdings 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 valued at $22,680,000 after buying an additional 686,002 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Morgan Stanley set a $19.00 price target on shares of Comstock Resources in a research note on Friday, February 13th. Citigroup restated a "neutral" rating and set a $25.00 target price (up from $24.00) on shares of Comstock Resources in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Comstock Resources in a research report on Monday, December 29th. Bank of America downgraded Comstock Resources from a "buy" rating to a "neutral" rating and reduced their price target for the company from $27.00 to $24.00 in a report on Friday, January 16th. Finally, Zacks Research upgraded Comstock Resources from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 12th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Comstock Resources presently has a consensus rating of "Reduce" and a consensus target price of $21.00.
Read Our Latest Stock Report on Comstock Resources
About Comstock Resources
(
Get Free Report)
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.
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