CRK FY2024 EPS Estimate Decreased by Capital One Financial

Comstock Resources, Inc. (NYSE:CRK) – Analysts at Capital One Financial lowered their FY2024 EPS estimates for Comstock Resources in a report released on Wednesday, January 15th. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will post earnings of ($0.40) per share for the year, down from their previous estimate of ($0.37). The consensus estimate for Comstock Resources’ current full-year earnings is ($0.43) per share. Capital One Financial also issued estimates for Comstock Resources’ Q4 2024 earnings at $0.00 EPS, Q3 2025 earnings at $0.13 EPS and FY2025 earnings at $0.52 EPS.

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

Several other equities research analysts also recently issued reports on the stock. BMO Capital Markets raised their price objective 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. Citigroup lifted their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Bank of America began coverage on Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective for the company. Morgan Stanley began coverage on Comstock Resources in a research note on Friday, January 10th. They issued an “equal weight” rating and a $18.00 target price for the company. Finally, Truist Financial boosted their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.30.

Comstock Resources Trading Down 0.7 %

NYSE:CRK opened at $21.36 on Monday. The company’s 50 day moving average is $16.62 and its 200-day moving average is $12.83. 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 $21.75. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of -118.68 and a beta of 0.51.

Insider Activity at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $16.33, for a total transaction of $163,300.00. Following the completion of the transaction, the director now directly owns 123,781 shares of the company’s stock, valued at $2,021,343.73. This trade represents a 7.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 38,000 shares of company stock worth $634,660. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Woodstock Corp grew its position in shares of Comstock Resources by 50.0% in the 4th quarter. Woodstock Corp now owns 15,000 shares of the oil and gas producer’s stock valued at $273,000 after acquiring an additional 5,000 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Comstock Resources during the 4th quarter worth about $214,000. JPMorgan Chase & Co. raised its holdings in Comstock Resources by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer’s stock valued at $1,896,000 after acquiring an additional 13,998 shares during the period. Sanctuary Advisors LLC acquired a new stake in Comstock Resources during the third quarter worth approximately $169,000. Finally, Barclays PLC grew its position in shares of Comstock Resources by 256.3% in the third quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after purchasing an additional 111,934 shares during the last quarter. 36.13% of the stock is owned by institutional investors and hedge funds.

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.