Q3 Earnings Forecast for CRK Issued By KeyCorp

Comstock Resources, Inc. (NYSE:CRK) – Equities researchers at KeyCorp issued their Q3 2024 EPS estimates for Comstock Resources in a note issued to investors on Thursday, October 17th. KeyCorp analyst T. Rezvan forecasts that the oil and gas producer will post earnings per share of ($0.19) for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Comstock Resources’ current full-year earnings is ($0.37) per share. KeyCorp also issued estimates for Comstock Resources’ Q4 2024 earnings at $0.01 EPS and FY2024 earnings at ($0.41) EPS.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The business had revenue of $246.80 million for the quarter, compared to the consensus estimate of $296.02 million. The firm’s revenue was down 14.4% compared to the same quarter last year.

A number of other research firms have also commented on CRK. Mizuho dropped their price target on shares of Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a research report on Monday, September 16th. Truist Financial boosted their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Siebert Williams Shank lowered shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price on the stock. in a research report on Tuesday, October 15th. BMO Capital Markets boosted their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Finally, Wolfe Research started coverage on shares of Comstock Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.79.

Comstock Resources Trading Up 0.0 %

NYSE:CRK opened at $11.34 on Monday. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $13.39. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 51.52 and a beta of 0.47. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The company’s 50 day moving average is $10.87 and its 200-day moving average is $10.57.

Insiders Place Their Bets

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 825,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $8.16 per share, with a total value of $6,732,000.00. Following the purchase, the insider now directly owns 195,646,429 shares of the company’s stock, valued at $1,596,474,860.64. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Star Exploration Corp Blue bought 825,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the acquisition, the insider now owns 195,646,429 shares of the company’s stock, valued at $1,596,474,860.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Drilling L.P. Arkoma bought 825,868 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $9.76 per share, with a total value of $8,060,471.68. Following the acquisition, the insider now directly owns 198,949,901 shares of the company’s stock, valued at approximately $1,941,751,033.76. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 6,712,733 shares of company stock worth $67,816,851. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Comstock Resources

Several institutional investors have recently added to or reduced their stakes in the stock. Doliver Advisors LP grew its holdings in Comstock Resources by 3.9% during the third quarter. Doliver Advisors LP now owns 26,455 shares of the oil and gas producer’s stock worth $294,000 after buying an additional 988 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Comstock Resources by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer’s stock worth $172,000 after acquiring an additional 1,276 shares during the period. GAMMA Investing LLC lifted its holdings in Comstock Resources by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 1,312 shares in the last quarter. XTX Topco Ltd lifted its holdings in Comstock Resources by 4.8% during the 2nd quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer’s stock worth $299,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its holdings in Comstock Resources by 5.7% during the 2nd quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock worth $296,000 after purchasing an additional 1,552 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors.

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.