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

Comstock Resources (NYSE:CRK) posted its quarterly earnings results on Tuesday. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04), Briefing.com reports. Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The firm had revenue of $246.80 million for the quarter, compared to the consensus estimate of $296.02 million. The company’s revenue for the quarter was down 14.4% on a year-over-year basis.

Comstock Resources Price Performance

Comstock Resources stock traded down $0.40 during midday trading on Thursday, hitting $9.07. 4,842,335 shares of the company’s stock were exchanged, compared to its average volume of 3,907,706. The stock has a 50-day moving average price of $10.85 and a two-hundred day moving average price of $9.57. Comstock Resources has a 52-week low of $7.07 and a 52-week high of $13.39. The company has a market cap of $2.65 billion, a P/E ratio of 41.14 and a beta of 0.51. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64.

Wall Street Analyst Weigh In

CRK has been the topic of several recent research reports. Mizuho upped their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company an “underperform” rating in a report on Monday, May 13th. The Goldman Sachs Group raised their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “sell” rating in a report on Tuesday, May 28th. KeyCorp began coverage on shares of Comstock Resources in a research note on Thursday, June 27th. They issued a “sector weight” rating for the company. Stifel Nicolaus dropped their target price on Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Finally, StockNews.com upgraded Comstock Resources to a “sell” rating in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Comstock Resources has an average rating of “Hold” and a consensus 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.