Comstock Resources Target of Unusually Large Options Trading (CRK)

Comstock Resources Inc (NYSE:CRK) saw unusually large options trading on Thursday. Stock investors acquired 3,169 call options on the stock. This is an increase of approximately 1,485% compared to the average daily volume of 200 call options.

Several research firms recently commented on CRK. KeyCorp reiterated a “hold” rating on shares of Comstock Resources in a research note on Friday, November 24th. Robert W. Baird set a $12.00 price target on Comstock Resources and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Barclays cut their price target on Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Comstock Resources currently has a consensus rating of “Hold” and a consensus target price of $11.75.

In related news, CEO M Jay Allison bought 120,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was bought at an average price of $6.53 per share, with a total value of $783,600.00. Following the completion of the transaction, the chief executive officer now directly owns 520,130 shares of the company’s stock, valued at $3,396,448.90. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 173,500 shares of company stock valued at $1,136,570 in the last ninety days. Company insiders own 11.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new position in shares of Comstock Resources in the third quarter worth about $430,000. ACR Alpine Capital Research LLC acquired a new position in shares of Comstock Resources in the third quarter worth about $304,000. First Washington CORP lifted its stake in shares of Comstock Resources by 227.8% in the third quarter. First Washington CORP now owns 368,562 shares of the oil and gas producer’s stock worth $2,241,000 after acquiring an additional 256,122 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Comstock Resources by 22.7% in the third quarter. Russell Investments Group Ltd. now owns 59,041 shares of the oil and gas producer’s stock worth $359,000 after acquiring an additional 10,936 shares in the last quarter. Finally, Vanguard Group Inc. lifted 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 in the last quarter. Institutional investors and hedge funds own 52.86% of the company’s stock.

Comstock Resources (NYSE CRK) opened at $10.49 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of -3.32. Comstock Resources has a one year low of $4.01 and a one year high of $13.42. The company has a market capitalization of $149.65, a PE ratio of -1.14 and a beta of -0.49.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Thursday, November 2nd. The oil and gas producer reported ($1.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.45) by $0.35. analysts forecast that Comstock Resources will post -4.76 EPS for the current year.

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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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