Comstock Resources (NYSE:CRK) Issues Quarterly Earnings Results

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

Comstock Resources Stock Up 2.1 %

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 debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. Comstock Resources has a 52 week low of $7.46 and a 52 week high of $22.06. The company has a market cap of $5.54 billion, a PE ratio of -105.30, a P/E/G ratio of 1.45 and a beta of 0.48. The company has a 50-day simple moving average of $18.45 and a 200 day simple moving average of $14.12.

Insider Transactions at Comstock Resources

In other Comstock Resources news, Director Elizabeth B. Davis sold 8,000 shares of Comstock Resources stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.17, for a total value of $145,360.00. Following the sale, the director now directly owns 99,632 shares in the company, valued at approximately $1,810,313.44. The trade was a 7.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 38,000 shares of company stock valued at $634,660 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CRK shares. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $10.00 to $18.00 in a report on Monday, December 16th. Truist Financial raised their price target on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Piper Sandler upped their price objective on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. 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. Finally, Morgan Stanley began coverage on shares of Comstock Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price objective for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Comstock Resources presently has a consensus rating of “Hold” and an average 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.