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

Comstock Resources (NYSE:CRK) announced its earnings results on Tuesday. The oil and gas producer reported $0.16 earnings per share 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 Price Performance

CRK stock opened at $18.96 on Wednesday. Comstock Resources has a twelve month low of $7.46 and a twelve month high of $22.06. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. The business’s 50-day simple moving average is $18.45 and its 200 day simple moving average is $14.12.

Insider Buying and Selling at Comstock Resources

In other news, Director Elizabeth B. Davis sold 8,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the transaction, the director now directly owns 99,632 shares of the company’s stock, valued at approximately $1,810,313.44. This represents a 7.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 38,000 shares of company stock valued at $634,660 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CRK. Piper Sandler increased their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and increased their target price for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Bank of America initiated coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price target on the stock. Truist Financial increased 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. Finally, Morgan Stanley began coverage on shares of Comstock Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price for the company. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Comstock Resources presently has a consensus rating of “Hold” and a consensus target price of $13.40.

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.