Equities Analysts Offer Predictions for CRK Q4 Earnings

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

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

A number of other brokerages also recently issued reports on CRK. Truist Financial boosted their price objective on Comstock Resources from $9.00 to $10.00 and gave the company a “hold” rating in a research note 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 price target for the company. in a research report on Tuesday, October 15th. Citigroup raised their price objective on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday. Bank of America started coverage on shares of Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Piper Sandler cut Comstock Resources from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $8.00 to $5.00 in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.89.

Comstock Resources Stock Performance

Shares of NYSE CRK opened at $14.52 on Thursday. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of -80.63 and a beta of 0.57. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. The firm has a 50 day moving average of $12.98 and a 200 day moving average of $11.40. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $15.84.

Hedge Funds Weigh In On Comstock Resources

A number of institutional investors and hedge funds have recently made changes to their positions in CRK. Dimensional Fund Advisors LP raised its stake in shares of Comstock Resources by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer’s stock valued at $121,414,000 after acquiring an additional 2,438,252 shares during the period. KGH Ltd lifted its stake in shares of Comstock Resources by 8.7% during the 2nd quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer’s stock worth $125,858,000 after acquiring an additional 975,000 shares during the last quarter. Millennium Management LLC boosted its holdings in Comstock Resources by 775.4% during the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock valued at $9,086,000 after acquiring an additional 775,371 shares during the period. HITE Hedge Asset Management LLC bought a new position in Comstock Resources in the 2nd quarter valued at $6,544,000. Finally, American Century Companies Inc. increased its stake in Comstock Resources by 19.0% in the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock worth $23,567,000 after purchasing an additional 362,043 shares during the period. 36.13% of the stock is owned by hedge funds and other 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.