Comstock Resources (NYSE:CRK) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Comstock Resources (NYSE:CRK) issued its quarterly earnings results on Tuesday. The oil and gas producer reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04), Briefing.com reports. The firm had revenue of $246.80 million during the quarter, compared to analysts’ expectations of $296.02 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The business’s revenue was down 14.4% on a year-over-year basis.

Comstock Resources Stock Performance

NYSE:CRK traded down $0.71 during midday trading on Wednesday, reaching $9.50. The stock had a trading volume of 6,756,770 shares, compared to its average volume of 3,901,304. Comstock Resources has a 1-year low of $7.07 and a 1-year high of $13.39. The firm’s fifty day simple moving average is $10.88 and its 200-day simple moving average is $9.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $2.78 billion, a P/E ratio of 43.68 and a beta of 0.51.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research note on Monday, April 29th. KeyCorp assumed coverage on shares of Comstock Resources in a research note on Thursday, June 27th. They issued a “sector weight” rating on the stock. The Goldman Sachs Group upped their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Tuesday, May 28th. Stifel Nicolaus dropped their price objective 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. Finally, Truist Financial upped their price objective on shares of Comstock Resources from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Comstock Resources presently has a consensus rating of “Hold” and an average price target of $10.25.

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.