Comstock Resources (NYSE:CRK) Posts Earnings Results, Beats Expectations By $0.14 EPS

Comstock Resources (NYSE:CRK) released its quarterly earnings data on Tuesday. The oil and gas producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14, Zacks reports. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%.

Comstock Resources Stock Performance

Shares of CRK traded up $0.40 during mid-day trading on Tuesday, hitting $18.96. 2,565,579 shares of the company’s stock were exchanged, compared to its average volume of 2,502,070. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of -105.30, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. The stock’s 50-day simple moving average is $18.45 and its 200-day simple moving average is $14.12. Comstock Resources has a 52 week low of $7.46 and a 52 week high of $22.06.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRK. Morgan Stanley assumed coverage on shares of Comstock Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price target for the company. Piper Sandler boosted their price target on Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Truist Financial raised their price objective on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Citigroup boosted their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Bank of America started coverage on Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 price target for the company. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Comstock Resources currently has an average rating of “Hold” and a consensus target price of $13.40.

Insider Activity at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the sale, the director now directly owns 123,781 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Over the last ninety days, insiders sold 38,000 shares of company stock worth $634,660. Company insiders own 2.00% of the company’s stock.

Comstock Resources Company Profile

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.