Comstock Resources (CRK) Set to Announce Earnings on Wednesday

Comstock Resources (NYSE:CRK) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.03 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The business had revenue of $410.58 million for the quarter, compared to analyst estimates of $401.97 million. Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. Comstock Resources’s revenue for the quarter was down 55.5% on a year-over-year basis. During the same period last year, the business posted $1.05 earnings per share. On average, analysts expect Comstock Resources to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Comstock Resources Stock Performance

Shares of CRK opened at $10.40 on Tuesday. The firm has a market capitalization of $2.89 billion, a PE ratio of 13.68 and a beta of 0.70. 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 firm has a 50-day moving average price of $8.89 and a 200 day moving average price of $9.40. Comstock Resources has a 52-week low of $7.07 and a 52-week high of $13.39.

Analysts Set New Price Targets

A number of research firms recently commented on CRK. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research note on Monday. Piper Sandler lowered their price target on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Mizuho cut their price objective on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a report on Monday, April 15th. The Goldman Sachs Group lifted their target price on Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus cut their price target on shares of Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.75.

Insider Activity at Comstock Resources

In related news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the acquisition, the insider now owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate 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.