Comstock Resources (CRK) Scheduled to Post Quarterly Earnings on Wednesday

Comstock Resources (NYSE:CRK) is scheduled to release its earnings data after the market closes on Wednesday, October 30th. Analysts expect Comstock Resources to post earnings of ($0.13) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Comstock Resources (NYSE:CRK) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The business had revenue of $246.80 million for the quarter, compared to analyst estimates of $296.02 million. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. 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 Price Performance

Comstock Resources stock opened at $11.34 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.59. The company’s fifty day moving average price is $10.87 and its 200 day moving average price is $10.57. The stock has a market capitalization of $3.31 billion, a P/E 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 Buying and Selling at Comstock Resources

In other news, major shareholder Star Exploration Corp Blue acquired 825,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $8.16 per share, for a total transaction of $6,732,000.00. Following the completion of the transaction, the insider now owns 195,646,429 shares in the company, valued at approximately $1,596,474,860.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Comstock Resources news, major shareholder Drilling L.P. Arkoma purchased 825,868 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $9.76 per share, with a total value of $8,060,471.68. Following the purchase, the insider now directly owns 198,949,901 shares in the company, valued at approximately $1,941,751,033.76. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the acquisition, the insider now owns 195,646,429 shares in the company, valued at approximately $1,596,474,860.64. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 6,712,733 shares of company stock worth $67,816,851 in the last three months. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Siebert Williams Shank cut Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a report on Tuesday, October 15th. Piper Sandler lowered Comstock Resources from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $8.00 to $5.00 in a research note on Thursday, August 15th. BMO Capital Markets raised their target price on Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Finally, Mizuho dropped their price target on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.79.

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.