Equities Analysts Offer Predictions for Comstock Resources, Inc.’s Q4 2024 Earnings (NYSE:CRK)

Comstock Resources, Inc. (NYSE:CRK) – Roth Capital reduced their Q4 2024 earnings per share estimates for shares of Comstock Resources in a note issued to investors on Thursday, May 2nd. Roth Capital analyst L. Mariani now anticipates 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 posted its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The firm had revenue of $335.77 million during the quarter, compared to analysts’ expectations of $343.97 million. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The firm’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS.

Several other research firms have also recently issued reports on CRK. Truist Financial decreased their target price on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Tuesday, February 13th. The Goldman Sachs Group boosted their price objective on shares of Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Tuesday, April 2nd. Piper Sandler reduced their target price on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, March 7th. StockNews.com upgraded Comstock Resources to a “sell” rating in a research note on Monday, April 29th. Finally, Mizuho decreased their target price on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating for the company in a report on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Comstock Resources currently has a consensus rating of “Hold” and a consensus price target of $9.75.

Comstock Resources Price Performance

CRK stock opened at $10.32 on Monday. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 46.91 and a beta of 0.70. The stock’s fifty day simple moving average is $9.09 and its 200-day simple moving average is $9.30. Comstock Resources has a 52-week low of $7.07 and a 52-week high of $13.39. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.09.

Insiders Place Their Bets

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of Comstock Resources stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the completion of the acquisition, the insider now owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Comstock Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in Comstock Resources by 428.9% during the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Comstock Resources by 2,161.0% in the first quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 4,711 shares during the last quarter. Federated Hermes Inc. raised its stake in Comstock Resources by 80.0% during the third quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock valued at $61,000 after buying an additional 2,445 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Comstock Resources by 144.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 3,929 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Comstock Resources in the 3rd quarter worth approximately $80,000. Institutional investors own 36.13% 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.