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

Comstock Resources (NYSE:CRK) issued its quarterly earnings data on Tuesday. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million.

Comstock Resources Trading Up 9.3 %

NYSE CRK opened at $20.71 on Thursday. Comstock Resources has a twelve month low of $7.46 and a twelve month high of $22.06. The business’s fifty day moving average is $18.60 and its 200 day moving average is $14.24. 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 company has a market cap of $6.05 billion, a price-to-earnings ratio of -115.04, a price-to-earnings-growth ratio of 1.52 and a beta of 0.48.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CRK. Citigroup lifted their price target on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Bank of America initiated coverage on shares of Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 price target on the stock. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Truist Financial increased their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Morgan Stanley started coverage on 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. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.40.

Insider Activity

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $16.33, for a total transaction of $163,300.00. Following the transaction, the director now directly owns 123,781 shares of the company’s stock, valued at approximately $2,021,343.73. The trade was a 7.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 38,000 shares of company stock valued at $634,660. 2.00% of the stock is currently owned by corporate insiders.

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.