Comstock Resources, Inc. Forecasted to Post Q4 2024 Earnings of $0.07 Per Share (NYSE:CRK)

Comstock Resources, Inc. (NYSE:CRK) – Stock analysts at Roth Capital reduced their Q4 2024 earnings per share estimates for shares of Comstock Resources in a research report issued on Thursday, May 2nd. Roth Capital analyst L. Mariani now forecasts that the oil and gas producer will earn $0.07 per share for the quarter, down from their prior estimate of $0.08. The consensus estimate for Comstock Resources’ current full-year earnings is ($0.13) per share. Roth Capital also issued estimates for Comstock Resources’ Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.00 EPS and Q4 2025 earnings at $0.22 EPS.

Comstock Resources (NYSE:CRK) last announced its earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The company had revenue of $335.77 million during the quarter, compared to analysts’ expectations of $343.97 million. During the same period last year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was down 31.4% on a year-over-year basis.

Several other brokerages also recently issued reports on CRK. Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Piper Sandler decreased their price target on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. StockNews.com raised shares of Comstock Resources to a “sell” rating in a research note on Monday, April 29th. Mizuho dropped their price target on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th. Finally, Truist Financial reduced their price objective on Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.75.

Comstock Resources Trading Up 3.4 %

NYSE CRK opened at $10.32 on Monday. The firm’s 50 day moving average price is $9.09 and its two-hundred day moving average price is $9.30. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 46.91 and a beta of 0.70. Comstock Resources has a twelve month low of $7.07 and a twelve month high of $13.39. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64.

Institutional Investors Weigh In On Comstock Resources

Several hedge funds and other institutional investors have recently modified their holdings of CRK. KGH Ltd raised its stake in shares of Comstock Resources by 119.3% in the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock valued at $94,704,000 after purchasing an additional 4,670,959 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Comstock Resources by 29.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,139,351 shares of the oil and gas producer’s stock valued at $72,035,000 after buying an additional 1,833,302 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Comstock Resources during the 1st quarter worth about $5,643,000. Readystate Asset Management LP boosted its position in shares of Comstock Resources by 718.7% during the 4th quarter. Readystate Asset Management LP now owns 603,846 shares of the oil and gas producer’s stock valued at $5,344,000 after acquiring an additional 530,090 shares in the last quarter. Finally, CastleKnight Management LP bought a new stake in Comstock Resources in the fourth quarter valued at about $3,167,000. Institutional investors and hedge funds own 36.13% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the purchase, the insider now owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% 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.