Q4 Earnings Estimate for CRK Issued By Capital One Financial

Comstock Resources, Inc. (NYSE:CRK) – Capital One Financial raised their Q4 2024 earnings estimates for shares of Comstock Resources in a research report issued to clients and investors 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 estimate 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 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 firm had revenue of $304.50 million for 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%. Comstock Resources’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS.

A number of other brokerages also recently weighed in on CRK. Morgan Stanley assumed coverage on Comstock Resources in a report on Friday. They issued an “equal weight” rating and a $18.00 target price for the company. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Bank of America began coverage on shares of Comstock Resources in a research note on Monday, October 28th. They set a “buy” rating and a $14.00 target price on the stock. Truist Financial lifted their price target on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday. 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 research 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 issued a buy rating to the company. According to data from MarketBeat, Comstock Resources has an average rating of “Hold” and a consensus target price of $13.30.

Comstock Resources Stock Performance

CRK stock opened at $19.94 on Monday. The firm has a market cap of $5.83 billion, a PE ratio of -110.77 and a beta of 0.51. 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 stock has a 50-day moving average price of $15.77 and a 200-day moving average price of $12.46. Comstock Resources has a 1-year low of $7.07 and a 1-year high of $20.57.

Institutional Trading of Comstock Resources

Several institutional investors have recently made changes to their positions in CRK. Harbor Capital Advisors Inc. purchased a new position in Comstock Resources during the third quarter worth about $25,000. Sunbelt Securities Inc. lifted its position in shares of Comstock Resources by 140.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 1,400 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Comstock Resources by 2,533.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 3,446 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Comstock Resources by 116.3% in the third quarter. Blue Trust Inc. now owns 6,715 shares of the oil and gas producer’s stock valued at $70,000 after acquiring an additional 3,611 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of Comstock Resources during the second quarter valued at approximately $105,000. Institutional investors own 36.13% of the company’s stock.

Insider Buying and Selling at Comstock Resources

In related news, Director Elizabeth B. Davis sold 8,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.17, for a total value of $145,360.00. Following the completion of the sale, the director now directly owns 99,632 shares of the company’s stock, valued at approximately $1,810,313.44. This represents a 7.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 38,000 shares of company stock worth $634,660. Insiders own 2.00% 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.