Comstock Resources (CRK) Trading 7.1% Higher

Comstock Resources Inc (NYSE:CRK) shares traded up 7.1% during mid-day trading on Tuesday . The stock traded as high as $8.89 and last traded at $8.13. 879,915 shares changed hands during mid-day trading, an increase of 170% from the average session volume of 326,232 shares. The stock had previously closed at $7.59.

Several research analysts have issued reports on the company. KeyCorp reaffirmed a “hold” rating on shares of Comstock Resources in a report on Friday, November 24th. Robert W. Baird set a $12.00 price target on Comstock Resources and gave the company a “buy” rating in a report on Friday, November 17th. Barclays dropped their price target on Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Finally, ValuEngine cut Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.40.

The company has a debt-to-equity ratio of -3.32, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $125.43, a P/E ratio of -0.91 and a beta of -0.46.

In other news, CEO M Jay Allison bought 120,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were bought at an average cost of $6.53 per share, with a total value of $783,600.00. Following the purchase, the chief executive officer now directly owns 520,130 shares in the company, valued at $3,396,448.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.60% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in CRK. Russell Investments Group Ltd. raised its stake in Comstock Resources by 7.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 48,105 shares of the oil and gas producer’s stock valued at $340,000 after purchasing an additional 3,345 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Comstock Resources by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 54,970 shares of the oil and gas producer’s stock worth $389,000 after acquiring an additional 10,480 shares during the last quarter. First Washington CORP acquired a new position in shares of Comstock Resources in the second quarter worth $795,000. Northern Trust Corp increased its stake in shares of Comstock Resources by 3.4% in the second quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock worth $225,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Comstock Resources by 40.4% in the second quarter. Vanguard Group Inc. now owns 628,355 shares of the oil and gas producer’s stock worth $4,443,000 after acquiring an additional 180,935 shares during the last quarter. 52.69% of the stock is currently owned by institutional investors.

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About Comstock Resources

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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