Q4 EPS Estimates for CRK Decreased by Capital One Financial

Comstock Resources, Inc. (NYSE:CRK) – Equities researchers at Capital One Financial lowered their Q4 2024 earnings estimates for shares of Comstock Resources in a research note issued to investors on Tuesday, December 3rd. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will post earnings per share of $0.02 for the quarter, down from their previous forecast of $0.03. The consensus estimate for Comstock Resources’ current full-year earnings is ($0.44) per share.

Several other research firms have also recently commented on CRK. Truist Financial boosted their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Mizuho decreased their price objective on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Citigroup upped their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday. BMO Capital Markets lifted their price target on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Finally, Bank of America began coverage on shares of Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective for the company. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.89.

Comstock Resources Stock Performance

NYSE CRK opened at $14.52 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $15.84. The firm has a market cap of $4.24 billion, a P/E ratio of -80.63 and a beta of 0.57. The company’s 50 day moving average is $12.98 and its 200-day moving average is $11.40.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The business had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS.

Institutional Trading of Comstock Resources

Large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP grew its position in shares of Comstock Resources by 79.2% in the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock worth $7,677,000 after buying an additional 304,780 shares during the period. Intech Investment Management LLC purchased a new stake in Comstock Resources during the 3rd quarter valued at about $419,000. Goehring & Rozencwajg Associates LLC grew its position in Comstock Resources by 27.8% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer’s stock valued at $7,095,000 after purchasing an additional 148,700 shares during the last quarter. HITE Hedge Asset Management LLC bought a new stake in Comstock Resources during the 2nd quarter valued at about $6,544,000. Finally, Parametrica Management Ltd purchased a new position in Comstock Resources in the third quarter worth about $661,000. Institutional investors own 36.13% of the company’s stock.

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.