EU and US could reach trade deal this weekend - Reuters
Elizabeth B. Davis, a director at Comstock Resources Inc . (NYSE:CRK), recently sold 8,000 shares of the company's common stock. The transaction, which occurred on December 30, 2024, was executed at a price of $18.17 per share, amounting to a total value of $145,360. The sale comes as the stock trades near its 52-week high of $19.25, having delivered an impressive 110% return over the past year. According to InvestingPro analysis, technical indicators suggest the stock is currently in overbought territory. Following this sale, Davis retains ownership of 99,632 shares in Comstock Resources. The transaction was reported in a Form 4 filing with the Securities and Exchange Commission. InvestingPro data reveals the company faces some financial challenges, operating with significant debt burden and short-term obligations exceeding liquid assets. For deeper insights into CRK's financial health and more exclusive ProTips, investors can access the comprehensive Pro Research Report, available with an InvestingPro subscription.
In other recent news, Comstock Resources has been upgraded to Neutral by Mizuho (NYSE:MFG) Securities due to strategic financial moves and the company's expected improvement in managing its balance sheet leverage. Comstock Resources reported its Q3 2024 earnings, highlighting an average realized price of $1.90 per Mcf and total oil and gas sales of $305 million. Despite a challenging pricing environment, there was modest production growth and significant operational improvements, including the successful drilling of its first horseshoe lateral well.
Meanwhile, Crawford & Company has selected KPMG as its new auditor for 2025, following a competitive selection process. Ernst & Young will continue to serve as the independent auditor for the fiscal year ending December 31, 2024.
In other developments, natural gas stocks, including Comstock Resources, experienced a decline due to milder-than-average weather forecasts for December across the Midwest. However, Comstock Resources remains optimistic about the future, with plans to reintroduce two rigs in 2025 to stabilize and potentially increase production levels. These are among the recent developments affecting the companies.
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