Comstock Resources, Inc. (NYSE:CRK) Director Purchases 15,000 Shares of Stock
On December 22, Jim L. Turner, currently a director at Comstock Resources, Inc. (NYSE: CRK), purchased 15,000 shares of the company’s stock. The total amount spent on the stock was 208,650 dollars. The price of each share is determined to be $13.91 based on this information. The director now owns 280,805 shares of the company as a direct result of the purchase, and these shares have an approximate value of $3,905,997.50. The documentation that describes the transaction was submitted to the Securities and Exchange Commission, and it is possible to locate it on the SEC’s website.
Comstock Resources (NYSE: CRK) released its most recent quarterly earnings report on November 1. The report was for the company’s first fiscal quarter. The oil and gas company reported earnings per share (EPS) of $1.18 for the quarter, which is $0.03 higher than the consensus estimate of $1.15 per share for the quarter. Comstock Resources had a return on equity of 70.54%, while the net margin for the company was 29.59%. The market expectation for the quarter was $867.48 million, but the company reported a revenue of $1.19 billion for the period in question. This figure represents a significant increase over the market expectation. Comstock Resources, Inc. will most likely generate earnings of $3.62 per share during the current fiscal year, according to forecasts made by stock market analysts. These forecasts were made public today.
In addition, the company announced a quarterly dividend, and on December 15, that dividend was paid out to shareholders. Investors who had their transactions “recorded” on December 1 were eligible to receive a dividend payment equal to $0.125 per share. The day before the dividend was paid out, the 30th of the month, the ex-dividend date for this dividend was the previous Wednesday. Consequently, the yield comes to 3.47 percent, and the annual dividend payment amounts to 0.50 dollars. At the moment, Comstock Resources has a dividend payout ratio (DPR) of 14.53%.
On Friday, the amount of trading activity that took place resulted in the price of a share of Comstock Resources increasing by $0.41, which brought the price to $14.39. The stock was involved in 79,545 transactions, with an average volume of 3,711,190 shares traded. The debt-to-equity ratio is calculated to be 1.40, the quick ratio is calculated to be 0.65, and the current ratio is also calculated to be 0.65. Over the past 52 weeks, the share price of Comstock Resources, Inc. has fluctuated between a low of $6.88 and a high of $22.11 at various points. The price-to-earnings ratio of the company’s stock, which is 4.06, and its beta value, which is 1.29, are relatively high. The company’s total value, as represented by its market capitalization, is $3.36 billion. $17.19 is the company’s average price over the past 50 days, and $16.85 is its average price over the past 200 days.
Several institutional investors bought and sold company shares during the most recent period. These trades occurred both before and after the most recent period. Envestnet Asset Management Inc. raised the proportion of Comstock Resources it invested by 3.7% during the third quarter. Envestnet Asset Management Inc. now has 17,991 shares of the oil and gas producer’s stock after purchasing an additional 648 shares during the most recent quarter. The company’s investment in the stock is currently worth $311,000 in total. During the third quarter, Symphony Financial Ltd. increased the amount of its total investment in Comstock Resources by 3.4%. Following the acquisition of an additional 850 shares of the company’s stock during the most recent fiscal quarter, Symphony Financial Ltd. Co. now holds a total of 25,537 of the oil and gas producer’s shares, giving the holdings a value of $429,000. This brings the total number of shares owned by the company to 25,537. In the second quarter, Deutsche Bank AG successfully increased the percentage of Comstock Resources shares that it already owned by 0.4%. Deutsche Bank AG now has a total of 277,836 shares, valued at $3,357,000, following purchasing an additional 1,155 shares during the preceding quarter.
Meridian Management Company increased its stake in Comstock Resources by 8.7 percent during the second quarter of the fiscal year. Meridian Management Co. now has 16,300 shares in the oil and gas company after purchasing an additional 1,300 shares during the preceding quarter, bringing the company’s total number of shares to 16,300. The market value of these shares at the moment is $197,000, which brings the company’s stock to $197,000. Last but not least, US Bancorp DE increased its holdings in Comstock Resources by 2.6% during the third quarter. This certainly should not be considered the least important development. US Bancorp DE now holds a total of 52,021 shares of the oil and gas producer’s stock, which has a value of $900,000 due to the purchase of 1,324 additional shares during the most recent quarter. This brings the total number of shares owned by the company to 52,021. Currently, 35.22% of the company’s shares are owned by hedge funds and other institutional investors.
Numerous equity research specialists have been paying more attention to CRK stock. In a research note released on Monday, September 12, Stifel Nicolaus increased their price objective for Comstock Resources from $22.00 to $27.00 and assigned the stock a “buy” rating. In addition, a recommendation to “buy” the stock was included in the research note. On November 16, Tudor, Pickering, Holt & Co. released the first research note associated with their coverage of Comstock Resources. This note was published on Wednesday. They advised their clients to “hold” the stock moving forward. In addition, Comstock Resources was given a rating of “sell” by Citigroup in a research report released on December 7. This rating indicates that shareholders of the company should consider liquidating their holdings in the business. In addition, they brought the price target they had set for the stock down from $24.00 to $14.00, a reduction of $8.00. In a research note titled “Comstock Resources,” released on StockNews.com on October 12, the subject of discussion was Comstock Resources. This note was the first ever written in this format. They advised their clients to “hold” the stock moving forward. Finally, on November 16 of this year, Tudor Pickering published a research note announcing their intention to cover Comstock Resources. They advised their clients to “hold” the stock moving forward. Seven research professionals have provided the company with advice to buy, hold, or sell (from three analysts, five analysts, and two analysts, respectively), and the company has received these recommendations. Comstock Resources has an average rating of “Hold,” and the current consensus price objective for the company is set at $18.00, as indicated by data provided by Bloomberg. The average rating for the company is “Hold.”