Comstock Resources (NYSE:CRK) Releases Earnings Results, Beats Estimates By $0.14 EPS

Comstock Resources (NYSE:CRK) posted its quarterly earnings data on Tuesday. The oil and gas producer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14, Zacks reports. Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The company had revenue of $366.51 million for the quarter, compared to analyst estimates of $370.62 million.

Comstock Resources Stock Performance

Shares of CRK stock opened at $20.71 on Thursday. Comstock Resources has a 12 month low of $7.46 and a 12 month high of $22.06. The firm has a market capitalization of $6.05 billion, a PE ratio of -115.04, a price-to-earnings-growth ratio of 1.52 and a beta of 0.48. The firm has a fifty day simple moving average of $18.60 and a two-hundred day simple moving average of $14.24. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25.

Analyst Ratings Changes

CRK has been the topic of a number of research analyst reports. Bank of America started coverage on shares of Comstock Resources in a research report on Monday, October 28th. They set a “buy” rating and a $14.00 price target on the stock. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Morgan Stanley initiated coverage on Comstock Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price target on the stock. Citigroup raised their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Truist Financial boosted their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.40.

Insider Buying and Selling at Comstock Resources

In related news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $16.33, for a total value of $163,300.00. Following the sale, the director now owns 123,781 shares in the company, valued at $2,021,343.73. This represents a 7.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 38,000 shares of company stock valued at $634,660. Corporate insiders own 2.00% of the company’s stock.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.