Insider Buying: Comstock Resources, Inc. (CRK) CEO Purchases 41,000 Shares of Stock

Comstock Resources, Inc. (NYSE:CRK) CEO M Jay Allison bought 41,000 shares of Comstock Resources stock in a transaction on Monday, December 4th. The shares were bought at an average cost of $6.17 per share, with a total value of $252,970.00. Following the acquisition, the chief executive officer now directly owns 520,130 shares in the company, valued at $3,209,202.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

M Jay Allison also recently made the following trade(s):

  • On Wednesday, December 6th, M Jay Allison bought 120,000 shares of Comstock Resources stock. The shares were bought at an average cost of $6.53 per share, with a total value of $783,600.00.

Shares of Comstock Resources, Inc. (NYSE:CRK) traded down $0.24 during midday trading on Wednesday, hitting $6.74. The stock had a trading volume of 433,052 shares, compared to its average volume of 325,371. Comstock Resources, Inc. has a 52 week low of $4.01 and a 52 week high of $13.42. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of -3.32.

Several hedge funds and other institutional investors have recently modified their holdings of CRK. First Washington CORP grew its holdings in shares of Comstock Resources by 227.8% during the third quarter. First Washington CORP now owns 368,562 shares of the oil and gas producer’s stock worth $2,241,000 after purchasing an additional 256,122 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Comstock Resources by 40.4% during the second quarter. Vanguard Group Inc. now owns 628,355 shares of the oil and gas producer’s stock worth $4,443,000 after purchasing an additional 180,935 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Comstock Resources during the first quarter worth about $1,536,000. Hodges Capital Management Inc. grew its holdings in shares of Comstock Resources by 5.9% during the second quarter. Hodges Capital Management Inc. now owns 1,583,867 shares of the oil and gas producer’s stock worth $11,198,000 after purchasing an additional 87,805 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new position in shares of Comstock Resources during the third quarter worth about $430,000. 52.69% of the stock is owned by institutional investors.

A number of research analysts have weighed in on CRK shares. Stifel Nicolaus set a $12.00 target price on Comstock Resources and gave the company a “buy” rating in a report on Monday, August 14th. ValuEngine lowered Comstock Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Barclays reduced their target price on Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. KeyCorp reaffirmed a “hold” rating on shares of Comstock Resources in a report on Monday, October 16th. Finally, Robert W. Baird set a $12.00 target price on Comstock Resources and gave the company a “buy” rating in a report on Friday, November 17th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.40.

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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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