Comstock Resources (CRK) to Release Earnings on Wednesday

Comstock Resources (NYSE:CRK) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Comstock Resources to post earnings of ($0.13) per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The company had revenue of $246.80 million during the quarter, compared to analyst estimates of $296.02 million. Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. 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

Shares of CRK stock opened at $12.00 on Monday. The stock’s fifty day simple moving average is $10.95 and its 200 day simple moving average is $10.62. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 54.55 and a beta of 0.47. Comstock Resources has a one year low of $7.07 and a one year high of $13.39.

Analyst Ratings Changes

Several analysts recently commented on the company. Piper Sandler lowered Comstock Resources from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $8.00 to $5.00 in a research note on Thursday, August 15th. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research note on Tuesday, October 15th. BMO Capital Markets boosted their target price on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Mizuho dropped their target price 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. Finally, Wolfe Research initiated coverage on Comstock Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Comstock Resources currently has a consensus rating of “Hold” and a consensus target price of $9.79.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma bought 592,246 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the completion of the purchase, the insider now owns 208,219,992 shares in the company, valued at approximately $2,402,858,707.68. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder Star Exploration Corp Blue acquired 825,868 shares of Comstock Resources stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $8.82 per share, with a total value of $7,284,155.76. Following the completion of the transaction, the insider now directly owns 197,298,165 shares of the company’s stock, valued at approximately $1,740,169,815.30. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Drilling L.P. Arkoma acquired 592,246 shares of Comstock Resources stock in a transaction dated Monday, August 26th. The shares were purchased at an average cost of $11.54 per share, with a total value of $6,834,518.84. Following the completion of the transaction, the insider now directly owns 208,219,992 shares of the company’s stock, valued at $2,402,858,707.68. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 6,712,733 shares of company stock valued at $67,816,851. Company insiders own 1.50% of the company’s stock.

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.