Comstock Resources (NYSE:CRK) Issues Earnings Results

Comstock Resources (NYSE:CRK) issued its quarterly earnings data on Wednesday. The oil and gas producer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05, Briefing.com reports. The firm had revenue of $335.77 million for the quarter, compared to analyst estimates of $343.97 million. Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. The firm’s revenue was down 31.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS.

Comstock Resources Stock Performance

NYSE CRK traded up $0.12 on Thursday, hitting $9.89. The stock had a trading volume of 2,463,119 shares, compared to its average volume of 4,501,330. Comstock Resources has a one year low of $7.07 and a one year high of $13.39. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.11. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 12.83 and a beta of 0.70. The company’s 50-day moving average is $8.97 and its two-hundred day moving average is $9.38.

Insiders Place Their Bets

In other news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was purchased at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the transaction, the insider now owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

CRK has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their target price on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Pickering Energy Partners upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. The Goldman Sachs Group upped their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Tuesday, April 2nd. Mizuho dropped their price objective on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th. Finally, StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.75.

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.