Comstock Assets director Elizabeth Davis sells $479,609 in inventory

Elizabeth B. Davis, a director at Comstock Assets Inc . (NYSE:CRK), lately offered a good portion of her holdings within the firm. In accordance with a submitting with the Securities and Trade Fee, Davis offered a complete of 30,000 shares over three days in December 2024. The transactions passed off on December 19, 20, and 23, with sale costs starting from $15.6219 to $16.33 per share. The full worth of those transactions amounted to roughly $479,609. The gross sales occurred as CRK trades close to its 52-week excessive of $17.79, with the inventory displaying outstanding momentum, gaining over 45% previously six months. In accordance with InvestingPro evaluation, the corporate presently seems overvalued based mostly on its Honest Worth evaluation.

Following these gross sales, Davis holds 123,781 shares of Comstock Assets immediately. The transactions had been executed with none fairness swaps concerned, sustaining a direct possession standing. Comstock Assets, headquartered in Frisco, Texas, operates within the crude petroleum and pure fuel trade. With a market capitalization of $4.9 billion, the corporate faces challenges with profitability and carries a big debt burden. InvestingPro subscribers can entry 10+ further key insights and a complete Professional Analysis Report for deeper evaluation of CRK’s monetary well being and future prospects.

In different current information, Comstock Assets has been upgraded to a Impartial score by Mizuho (NYSE:MFG) Securities, following strategic monetary strikes that would doubtlessly strengthen the corporate’s place within the vitality market. The corporate’s third-quarter 2024 earnings and profitable drilling within the Western Haynesville space over the previous two years have elevated confidence in its potential reserves. In the meantime, Crawford & Firm has chosen KPMG LLP as its new auditor for the fiscal yr ending December 31, 2025. The choice comes after a aggressive choice course of and is pending KPMG’s normal analysis procedures.

In different developments, Comstock Assets reported its Q3 2024 efficiency, noting a median realized worth of $1.90 per Mcf with whole oil and fuel gross sales reaching $305 million. Regardless of a difficult worth setting, the corporate reported a modest manufacturing improve and vital operational enhancements. Nonetheless, the corporate additionally reported an adjusted internet lack of $49 million, or $0.17 per share.

These current developments spotlight the continuing adjustments within the vitality sector and the strategic strikes corporations are making in response. As all the time, buyers ought to maintain an in depth eye on these developments as they take into account their funding methods.

This text was generated with the assist of AI and reviewed by an editor. For extra data see our T&C.