Comstock Resources (NYSE:CRK) Posts Earnings Results

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, beating analysts’ consensus estimates 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 Trading Up 2.1 %

Shares of Comstock Resources stock traded up $0.40 during trading on Tuesday, hitting $18.96. 2,565,579 shares of the company were exchanged, compared to its average volume of 2,502,070. The firm has a market capitalization of $5.54 billion, a P/E ratio of -105.30, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. Comstock Resources has a 1-year low of $7.46 and a 1-year 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. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup raised 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. Piper Sandler raised 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. Truist Financial raised 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. Morgan Stanley assumed coverage on Comstock Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price for the company. Finally, Bank of America assumed coverage on Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 target price for the company. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Comstock Resources has an average rating of “Hold” and a consensus target price of $13.40.

Insider Transactions at Comstock Resources

In other news, Director Elizabeth B. Davis sold 8,000 shares of Comstock Resources stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.17, for a total transaction of $145,360.00. Following the transaction, the director now owns 99,632 shares in the company, valued at $1,810,313.44. The trade was a 7.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is currently owned by company 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.