Comstock Resources (NYSE:CRK) Issues Quarterly Earnings Results

Comstock Resources (NYSE:CRK - Get Free Report) released its earnings results on Tuesday. The oil and gas producer reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.14, Zacks reports. The company had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%.

Comstock Resources Trading Down 2.6 %

Shares of CRK traded down $0.51 during mid-day trading on Friday, hitting $19.56. 2,201,717 shares of the company's stock traded hands, compared to its average volume of 2,310,636. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. Comstock Resources has a 1 year low of $7.74 and a 1 year high of $22.06. The firm has a market capitalization of $5.72 billion, a P/E ratio of -25.73, a PEG ratio of 1.65 and a beta of 0.48. The business's 50-day moving average price is $18.70 and its 200-day moving average price is $14.36.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CRK shares. Bank of America started coverage on Comstock Resources in a research report on Monday, October 28th. They issued a "buy" rating and a $14.00 target price for the company. Citigroup boosted their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Piper Sandler boosted their target price on Comstock Resources from $5.00 to $6.00 and gave the stock an "underweight" rating in a research report on Wednesday, January 29th. Morgan Stanley started coverage on Comstock Resources in a research report on Friday, January 10th. They issued an "equal weight" rating and a $18.00 target price for the company. Finally, Truist Financial lifted their price target on Comstock Resources from $11.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $13.40.

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Insider Activity

In other news, Director Elizabeth B. Davis sold 8,000 shares of the business's stock in a transaction that occurred on 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 directly owns 99,632 shares of the company's stock, valued at approximately $1,810,313.44. The trade was a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 38,000 shares of company stock valued at $634,660. Company insiders own 2.00% of the company's stock.

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.