Capital One Financial Predicts CRK FY2024 Earnings

Comstock Resources, Inc. (NYSE:CRK) – Equities research analysts at Capital One Financial cut their FY2024 earnings estimates for shares of Comstock Resources in a research report issued to clients and investors on Wednesday, January 15th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will post earnings per share of ($0.40) for the year, down from their prior forecast of ($0.37). The consensus estimate for Comstock Resources’ current full-year earnings is ($0.39) 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.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company had revenue of $304.50 million for the quarter, compared to the consensus estimate of $308.75 million. During the same period in the previous year, the firm earned $0.04 earnings per share. The company’s revenue was down 19.2% compared to the same quarter last year.

Several other brokerages have also commented on CRK. Mizuho upgraded Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price target for the company from $10.00 to $18.00 in a research note on Monday, December 16th. Citigroup boosted their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the company a “neutral” rating in a report on Friday, December 6th. Truist Financial increased their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Bank of America assumed coverage on shares of Comstock Resources in a research note on Monday, October 28th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, BMO Capital Markets increased their target price on Comstock Resources from $10.00 to $11.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Comstock Resources currently has an average rating of “Hold” and a consensus price target of $13.30.

Comstock Resources Stock Down 1.9 %

NYSE:CRK opened at $20.96 on Monday. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -116.42, a price-to-earnings-growth ratio of 2.53 and a beta of 0.51. Comstock Resources has a twelve month low of $7.07 and a twelve month high of $21.75. 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 fifty day simple moving average of $16.77 and a 200-day simple moving average of $12.90.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new position in shares of Comstock Resources during the 3rd quarter valued at approximately $25,000. Sunbelt Securities Inc. grew its position in Comstock Resources by 140.0% during the third quarter. Sunbelt Securities Inc. now owns 2,400 shares of the oil and gas producer’s stock valued at $27,000 after buying an additional 1,400 shares during the period. EverSource Wealth Advisors LLC increased its holdings in 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 buying an additional 3,446 shares in the last quarter. Blue Trust Inc. raised its position 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 worth $70,000 after acquiring an additional 3,611 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of Comstock Resources during the 2nd quarter worth about $107,000. 36.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Comstock Resources news, Director Elizabeth B. Davis sold 10,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.62, for a total transaction of $156,200.00. Following the sale, the director now directly owns 143,781 shares of the company’s stock, valued at approximately $2,245,859.22. This trade represents a 6.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 38,000 shares of company stock valued at $634,660 over the last 90 days. 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.