Comstock Resources (NYSE:CRK) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Comstock Resources (NYSE:CRK) posted 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 Trading Up 2.1 %

CRK opened at $18.96 on Wednesday. Comstock Resources has a 12 month low of $7.46 and a 12 month high of $22.06. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The company has a fifty day simple moving average of $18.45 and a 200 day simple moving average of $14.12.

Analysts Set New Price Targets

CRK has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Truist Financial boosted their target price on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Morgan Stanley started coverage on Comstock Resources in a report on Friday, January 10th. They set an “equal weight” rating and a $18.00 price objective on the stock. Finally, Citigroup boosted their price objective on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, December 6th. Four 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.40.

Insider Transactions at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $16.33, for a total value of $163,300.00. Following the sale, the director now owns 123,781 shares of the company’s stock, valued at $2,021,343.73. The trade was a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 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.