Q4 EPS Estimates for CRK Cut by Capital One Financial

Comstock Resources, Inc. (NYSE:CRK) – Equities research analysts at Capital One Financial reduced their Q4 2024 earnings per share (EPS) estimates for shares of Comstock Resources in a report issued on Tuesday, December 3rd. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will earn $0.02 per share 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.

Comstock Resources (NYSE:CRK) last posted 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 the consensus estimate 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 was down 19.2% compared to the same quarter last year. During the same period last year, the company posted $0.04 EPS.

Other research analysts also recently issued reports about the stock. Truist Financial upped their price target 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. Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a research report on Tuesday, October 15th. Mizuho reduced their price target on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. BMO Capital Markets raised their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Finally, Piper Sandler lowered shares of Comstock Resources from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $5.00 in a report on Thursday, August 15th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Comstock Resources has a consensus rating of “Hold” and a consensus target price of $10.31.

Comstock Resources Price Performance

Shares of NYSE:CRK opened at $14.73 on Thursday. Comstock Resources has a one year low of $7.07 and a one year high of $15.84. 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 company has a market cap of $4.30 billion, a price-to-earnings ratio of -81.83 and a beta of 0.57. The firm has a 50 day simple moving average of $12.91 and a 200 day simple moving average of $11.38.

Hedge Funds Weigh In On Comstock Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Comstock Resources by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 58,821 shares of the oil and gas producer’s stock valued at $546,000 after buying an additional 4,053 shares during the period. GAMMA Investing LLC lifted its position in shares of Comstock Resources by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,312 shares during the period. Simplicity Wealth LLC boosted its stake in Comstock Resources by 5.7% during the second quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer’s stock worth $296,000 after acquiring an additional 1,552 shares in the last quarter. Sanders Morris Harris LLC grew its holdings in Comstock Resources by 8.1% in the second quarter. Sanders Morris Harris LLC now owns 200,000 shares of the oil and gas producer’s stock worth $2,076,000 after purchasing an additional 15,000 shares during the period. Finally, Friedenthal Financial acquired a new position in shares of Comstock Resources during the second quarter valued at about $715,000. 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.