Comstock Resources (CRK) Set to Announce Quarterly Earnings on Wednesday

Comstock Resources (NYSE:CRK) will post its earnings results after the market closes on Wednesday, May 1st. Analysts expect Comstock Resources to post earnings of $0.03 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Comstock Resources (NYSE:CRK) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). The company had revenue of $410.58 million for the quarter, compared to the consensus estimate of $401.97 million. Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The firm’s revenue was down 55.5% compared to the same quarter last year. During the same period in the prior year, the company earned $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 Trading Up 0.7 %

CRK opened at $10.40 on Tuesday. The company has a fifty day moving average price of $8.89 and a two-hundred day moving average price of $9.40. Comstock Resources has a 1-year low of $7.07 and a 1-year high of $13.39. The company has a market cap of $2.89 billion, a P/E ratio of 13.68 and a beta of 0.70. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CRK. Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 9th. Piper Sandler reduced their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Thursday, March 7th. Truist Financial reduced their price objective on Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday, February 13th. StockNews.com upgraded shares of Comstock Resources to a “sell” rating in a research note on Monday. Finally, Mizuho cut their price target on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a research note on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.75.

Insiders Place Their Bets

In related news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of Comstock Resources stock in a transaction dated Monday, March 25th. The stock was bought at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of the transaction, the insider now owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.