Capital One Financial Has Positive View of CRK Q4 Earnings

Comstock Resources, Inc. (NYSE:CRK) – Stock analysts at Capital One Financial increased their Q4 2024 earnings estimates for shares of Comstock Resources in a research note issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will post earnings of $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.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data 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 firm 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%. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS.

Several other equities analysts also recently issued reports on CRK. Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research note on Tuesday, October 15th. BMO Capital Markets raised their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Truist Financial increased their target price on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $10.00 to $18.00 in a research note on Monday, December 16th. Finally, Bank of America began coverage on Comstock Resources in a report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price on the stock. Four 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.com, Comstock Resources has an average rating of “Hold” and an average price target of $12.40.

Comstock Resources Trading Up 1.4 %

Shares of NYSE:CRK opened at $19.90 on Monday. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $20.08. The business’s fifty day simple moving average is $15.77 and its 200-day simple moving average is $12.45. 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 company has a market capitalization of $5.82 billion, a PE ratio of -110.55 and a beta of 0.51.

Hedge Funds Weigh In On Comstock Resources

A number of large investors have recently modified their holdings of CRK. KGH Ltd grew its holdings in 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 valued at $125,858,000 after buying an additional 975,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Comstock Resources by 26.3% in the 2nd 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 last quarter. American Century Companies Inc. boosted its stake in shares of Comstock Resources by 19.0% during the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer’s stock valued at $23,567,000 after purchasing an additional 362,043 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Comstock Resources by 4.2% in the 3rd 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 during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Comstock Resources by 775.4% in the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer’s stock worth $9,086,000 after purchasing an additional 775,371 shares during the last quarter. 36.13% of the stock is currently owned by institutional investors.

Insider Transactions at Comstock Resources

In other news, Director Elizabeth B. Davis sold 10,000 shares of Comstock Resources stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.62, for a total transaction of $156,200.00. Following the sale, the director now directly owns 143,781 shares of the company’s stock, valued at approximately $2,245,859.22. This trade represents a 6.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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.

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.