Capital One Financial Forecasts CRK FY2024 Earnings

Comstock Resources, Inc. (NYSE:CRK) – Equities research analysts at Capital One Financial lowered their FY2024 EPS estimates for Comstock Resources in a research note issued to investors on Wednesday, January 15th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will post earnings per share of ($0.40) for the year, down from their previous 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.

A number of other research firms also recently weighed in on CRK. BMO Capital Markets increased their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Truist Financial upped their price target on Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Bank of America initiated coverage on shares of Comstock Resources in a report on Monday, October 28th. They set a “buy” rating and a $14.00 price objective on the stock. Citigroup lifted their target price on Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Siebert Williams Shank downgraded shares of Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 target price for the company. in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.30.

Comstock Resources Stock Performance

NYSE:CRK opened at $21.36 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources has a 1-year low of $7.07 and a 1-year high of $21.75. The stock’s 50-day moving average is $16.77 and its 200-day moving average is $12.90. 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 (NYSE:CRK) last released its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $304.50 million for the quarter, compared to analyst estimates of $308.75 million. Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share.

Insider Transactions at Comstock Resources

In related news, Director Elizabeth B. Davis sold 8,000 shares of Comstock Resources stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.17, for a total transaction of $145,360.00. Following the transaction, the director now directly owns 99,632 shares in the company, valued at approximately $1,810,313.44. The trade was a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 38,000 shares of company stock worth $634,660 over the last quarter. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Comstock Resources during the third quarter worth $25,000. Sunbelt Securities Inc. boosted its position in Comstock Resources by 140.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,400 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Comstock Resources by 2,533.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 3,446 shares during the period. Blue Trust Inc. raised its position in 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 purchasing an additional 3,611 shares during the period. Finally, Algert Global LLC purchased a new position in Comstock Resources during the 2nd quarter valued at about $107,000. 36.13% of the stock is owned by institutional investors.

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.