Q4 EPS Estimates for CRK Boosted by Capital One Financial

Comstock Resources, Inc. (NYSE:CRK) – Equities research analysts at Capital One Financial lifted their Q4 2024 earnings per share (EPS) estimates for Comstock Resources in a note issued to investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will post earnings per share of $0.03 for the quarter, up from their previous forecast of $0.02. The consensus estimate for Comstock Resources’ current full-year earnings is ($0.44) per share. Capital One Financial also issued estimates for Comstock Resources’ Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.13 EPS, Q3 2025 earnings at $0.14 EPS, Q4 2025 earnings at $0.14 EPS, FY2025 earnings at $0.53 EPS and FY2026 earnings at $1.24 EPS.

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

Other equities analysts have also issued reports about the company. BMO Capital Markets increased their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Citigroup boosted their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Mizuho raised Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Siebert Williams Shank cut shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research report on Tuesday, October 15th. Finally, Truist Financial raised their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research report on Monday. Four equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.30.

Comstock Resources Stock Performance

Shares of CRK opened at $20.87 on Monday. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $20.97. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -115.94 and a beta of 0.51. The firm has a fifty day moving average of $15.94 and a 200-day moving average of $12.52.

Insider Transactions at Comstock Resources

In related news, Director Elizabeth B. Davis sold 8,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the sale, the director now directly owns 99,632 shares in the company, valued at approximately $1,810,313.44. This represents a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 38,000 shares of company stock valued at $634,660. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Comstock Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP raised its position in Comstock Resources by 79.2% in the third quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock worth $7,677,000 after purchasing an additional 304,780 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Comstock Resources by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock worth $15,736,000 after acquiring an additional 57,376 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Comstock Resources during the third quarter valued at $419,000. Barclays PLC grew its holdings in shares of Comstock Resources by 256.3% in the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock worth $1,731,000 after purchasing an additional 111,934 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its position in shares of 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 worth $7,095,000 after purchasing an additional 148,700 shares in the last quarter. Institutional investors and hedge funds 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.