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

Comstock Resources (NYSE:CRK) released its earnings results 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 stock traded up $0.40 during trading on Tuesday, reaching $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 stock has a market capitalization of $5.54 billion, a PE ratio of -105.30, a PEG ratio of 1.45 and a beta of 0.48. Comstock Resources has a twelve month low of $7.46 and a twelve month high of $22.06. The firm’s fifty day moving average price is $18.45 and its 200-day moving average price is $14.12.

Insider Buying and Selling

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 99,632 shares of the company’s stock, valued at $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 available through this hyperlink. In the last three months, insiders have sold 38,000 shares of company stock valued at $634,660. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CRK has been the topic of several research reports. Citigroup boosted their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research note on Friday, December 6th. Truist Financial boosted their target price on Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Bank of America initiated coverage on Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Piper Sandler boosted their target price on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Finally, 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 target price on the stock. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Comstock Resources has an average rating of “Hold” and a consensus price target 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.