Comstock Resources (CRK) Set to Announce Earnings on Wednesday

Comstock Resources (NYSE:CRK) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect Comstock Resources to post earnings of $0.03 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The business had revenue of $410.58 million for the quarter, compared to analyst estimates of $401.97 million. During the same quarter in the previous year, the business posted $1.05 earnings per share. The company’s revenue was down 55.5% compared to the same quarter last year. On average, analysts expect Comstock Resources to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Comstock Resources Stock Up 0.4 %

CRK opened at $9.77 on Wednesday. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $13.39. The business has a 50-day moving average of $8.62 and a 200-day moving average of $9.47. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market capitalization of $2.72 billion, a PE ratio of 12.86 and a beta of 0.70.

Insider Buying and Selling

In related news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of Comstock Resources stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the acquisition, the insider now owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CRK shares. Piper Sandler cut their price target on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Stifel Nicolaus cut their price target on Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com raised Comstock Resources to a “sell” rating in a research note on Thursday, April 4th. Truist Financial cut their price target on Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday, February 13th. Finally, The Goldman Sachs Group raised their price target on Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.75.

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.