Comstock Resources (CRK) Set to Announce Earnings on Wednesday

Comstock Resources (NYSE:CRK - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of ($0.13) per share for the quarter. Investors that wish to listen to the company's conference call can do so using this link.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.04). The firm had revenue of $246.80 million during the quarter, compared to analyst estimates of $296.02 million. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The firm's revenue was down 14.4% compared to the same quarter last year. On average, analysts expect Comstock Resources to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Comstock Resources Stock Performance

Shares of NYSE:CRK opened at $11.33 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.59. The business's 50 day moving average price is $10.87 and its 200-day moving average price is $10.57. The firm has a market capitalization of $3.31 billion, a PE ratio of 51.52 and a beta of 0.47. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $13.39.

Insider Activity at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue acquired 825,000 shares of Comstock Resources stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $8.16 per share, with a total value of $6,732,000.00. Following the purchase, the insider now directly owns 195,646,429 shares in the company, valued at approximately $1,596,474,860.64. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Comstock Resources news, major shareholder Drilling L.P. Arkoma purchased 981,898 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $10.13 per share, for a total transaction of $9,946,626.74. Following the completion of the purchase, the insider now directly owns 199,931,799 shares in the company, valued at $2,025,309,123.87. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $8.16 per share, for a total transaction of $6,732,000.00. Following the completion of the purchase, the insider now owns 195,646,429 shares of the company's stock, valued at approximately $1,596,474,860.64. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 6,712,733 shares of company stock valued at $67,816,851 in the last three months. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CRK shares. KeyCorp started coverage on Comstock Resources in a research note on Thursday, June 27th. They issued a "sector weight" rating on the stock. Truist Financial boosted their price objective on Comstock Resources from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Monday, September 30th. Mizuho lowered their price objective on Comstock Resources from $11.00 to $10.00 and set an "underperform" rating on the stock in a research note on Monday, September 16th. Piper Sandler lowered Comstock Resources from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $8.00 to $5.00 in a research note on Thursday, August 15th. Finally, Wolfe Research started coverage on Comstock Resources in a research note on Thursday, July 18th. They set a "peer perform" rating on the stock. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $9.79.

Comstock Resources Company Profile

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.