Q4 Earnings Forecast for CRK Issued By Capital One Financial

Comstock Resources, Inc. (NYSE:CRK) – Equities researchers at Capital One Financial boosted their Q4 2024 earnings estimates for shares of Comstock Resources in a report issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will earn $0.03 per share for the quarter, up from their prior 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.

CRK has been the subject of several other reports. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. 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 report on Tuesday, October 15th. Citigroup increased 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. Truist Financial increased their target price on shares of Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, BMO Capital Markets increased their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. 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 company’s stock. Based on data from MarketBeat.com, Comstock Resources presently has a consensus rating of “Hold” and a consensus target price of $12.40.

Comstock Resources Stock Up 1.4 %

CRK opened at $19.90 on Monday. The business has a 50 day simple moving average of $15.77 and a 200-day simple moving average of $12.45. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $20.08. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $5.82 billion, a P/E ratio of -110.55 and a beta of 0.51.

Comstock Resources (NYSE:CRK) last posted its earnings results 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). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The firm had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $308.75 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis.

Insider Activity

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.62, for a total transaction of $156,200.00. Following the transaction, the director now owns 143,781 shares in the company, valued at $2,245,859.22. This trade represents a 6.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 38,000 shares of company stock valued at $634,660 in the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Comstock Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP raised its position in 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 valued at $7,677,000 after buying an additional 304,780 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Comstock Resources by 4.2% in 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 buying an additional 57,376 shares during the period. Intech Investment Management LLC bought a new position in Comstock Resources during the 3rd quarter valued at approximately $419,000. Barclays PLC boosted its position in Comstock Resources by 256.3% during the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after acquiring an additional 111,934 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its stake in shares of Comstock Resources by 27.8% in 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 acquiring an additional 148,700 shares in the last quarter. 36.13% of the stock is currently owned by institutional investors.

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.