Comstock Resources (NYSE:CRK) Issues Earnings Results

Comstock Resources (NYSE:CRK) posted its earnings results on Tuesday. The oil and gas producer reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04), Briefing.com reports. The company had revenue of $246.80 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis.

Comstock Resources Stock Down 4.0 %

NYSE:CRK traded down $0.36 during midday trading on Friday, reaching $8.71. 226,331 shares of the stock traded hands, compared to its average volume of 3,882,832. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $13.39. The business has a 50-day moving average of $10.82 and a two-hundred day moving average of $9.56. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $2.55 billion, a PE ratio of 41.23 and a beta of 0.51.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Capital One Financial cut shares of Comstock Resources from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 15th. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a report on Monday, April 29th. Mizuho boosted their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company an “underperform” rating in a research report on Monday, May 13th. Wolfe Research initiated coverage on shares of Comstock Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Truist Financial boosted their price objective on shares of Comstock Resources from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Comstock Resources has an average rating of “Hold” and an average price target of $10.25.

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.