Capital One Financial Predicts CRK FY2024 Earnings

Comstock Resources, Inc. (NYSE:CRK) – Research analysts at Capital One Financial cut their FY2024 EPS estimates for Comstock Resources in a note issued to investors on Wednesday, January 15th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will earn ($0.40) per share for the year, down from their prior forecast of ($0.37). The consensus estimate for Comstock Resources’ current full-year earnings is ($0.43) per share. Capital One Financial also issued estimates for Comstock Resources’ Q4 2024 earnings at $0.00 EPS, Q3 2025 earnings at $0.13 EPS and FY2025 earnings at $0.52 EPS.

CRK has been the topic of several other research reports. 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 report on Monday, December 16th. Morgan Stanley assumed coverage on Comstock Resources in a research report on Friday, January 10th. They set an “equal weight” rating and a $18.00 target price for the company. BMO Capital Markets lifted their price objective on Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Truist Financial upped their target price on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Siebert Williams Shank lowered Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.30.

Comstock Resources Trading Down 0.7 %

Comstock Resources stock opened at $21.36 on Monday. The stock has a market cap of $6.24 billion, a P/E ratio of -118.68 and a beta of 0.51. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $21.75. 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 firm’s 50 day moving average price is $16.62 and its 200-day moving average price is $12.83.

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 business 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 for the quarter was down 19.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP raised its holdings 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 valued at $7,677,000 after buying an additional 304,780 shares during the period. Barclays PLC raised its holdings in shares of 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 buying an additional 111,934 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Comstock Resources by 4.2% during 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 in the last quarter. Intech Investment Management LLC purchased a new position in Comstock Resources in the 3rd quarter worth approximately $419,000. Finally, HITE Hedge Asset Management LLC acquired a new position in shares of Comstock Resources during the second quarter worth $6,544,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Insider Buying and Selling

In other news, Director Elizabeth B. Davis sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $16.33, for a total value of $163,300.00. Following the completion of the sale, the director now directly owns 123,781 shares of the company’s stock, valued at $2,021,343.73. This trade represents a 7.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 38,000 shares of company stock valued at $634,660 over the last three months. 2.00% of the stock is currently owned by company insiders.

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.