Comstock Resources Target of Unusually Large Options Trading (NYSE:CRK)

Comstock Resources, Inc. (NYSE:CRK) saw unusually large options trading activity on Friday. Investors purchased 27,544 call options on the stock. This is an increase of approximately 902% compared to the typical daily volume of 2,748 call options.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CRK shares. Truist Financial lifted their price objective on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $10.00 to $18.00 in a report on Monday, December 16th. Citigroup upped their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Bank of America started coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price objective for the company. Finally, Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price on the stock. in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.30.

Insiders Place Their Bets

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.62, for a total value of $156,200.00. Following the transaction, the director now directly owns 143,781 shares of the company’s stock, valued at $2,245,859.22. This trade represents a 6.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 38,000 shares of company stock valued at $634,660 in the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Comstock Resources

Institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Comstock Resources during the 3rd quarter valued at about $25,000. Sunbelt Securities Inc. lifted its position in shares of Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,400 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Comstock Resources by 2,533.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 3,446 shares during the period. Blue Trust Inc. boosted its stake in shares of Comstock Resources by 116.3% in the third quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 3,611 shares during the period. Finally, Choreo LLC acquired a new position in shares of Comstock Resources in the second quarter valued at approximately $105,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Price Performance

Shares of CRK opened at $21.36 on Friday. The firm has a 50-day simple moving average of $16.62 and a two-hundred day simple moving average of $12.80. Comstock Resources has a 1-year low of $7.07 and a 1-year high of $21.75. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25.

Comstock Resources (NYSE:CRK) last posted its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. On average, analysts anticipate that Comstock Resources will post -0.43 EPS for the current year.

About Comstock Resources

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.