Capital One Financial Analysts Lower Earnings Estimates for Comstock Resources, Inc. (NYSE:CRK)

Comstock Resources, Inc. (NYSE:CRK - Free Report) - Equities researchers at Capital One Financial decreased their Q3 2024 earnings per share (EPS) estimates for Comstock Resources in a research note issued to investors on Wednesday, August 14th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will earn ($0.03) per share for the quarter, down from their previous forecast of $0.03. Capital One Financial has a "Equal Weight" rating on the stock. The consensus estimate for Comstock Resources' current full-year earnings is ($0.13) per share. Capital One Financial also issued estimates for Comstock Resources' Q4 2024 earnings at $0.03 EPS, FY2024 earnings at ($0.23) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.14) EPS, Q4 2025 earnings at ($0.15) EPS, FY2025 earnings at ($0.55) EPS and FY2026 earnings at $0.98 EPS.

Other equities analysts have also issued reports about the stock. Truist Financial raised their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a "hold" rating in a research report on Monday, July 22nd. StockNews.com upgraded shares of Comstock Resources to a "sell" rating in a research note on Monday, April 29th. Mizuho upped their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the company an "underperform" rating in a report on Monday, May 13th. Wolfe Research initiated coverage on Comstock Resources in a report on Thursday, July 18th. They set a "peer perform" rating on the stock. Finally, KeyCorp started coverage on Comstock Resources in a research note on Thursday, June 27th. They set a "sector weight" rating for the company. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.75.

Comstock Resources Stock Performance

NYSE:CRK traded up $0.33 during mid-day trading on Monday, reaching $10.98. 3,290,271 shares of the stock were exchanged, compared to its average volume of 3,956,031. The company has a quick ratio of 0.64, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $13.39. The company has a 50 day simple moving average of $10.40 and a 200-day simple moving average of $9.69. The stock has a market capitalization of $3.21 billion, a P/E ratio of 48.41 and a beta of 0.51.

Comstock Resources (NYSE:CRK - Get Free Report) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.04). Comstock Resources had a negative return on equity of 1.38% and a negative net margin of 1.48%. The firm had revenue of $246.80 million for the quarter, compared to analyst estimates of $296.02 million. The company's quarterly revenue was down 14.4% compared to the same quarter last year.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, major shareholder Drilling L.P. Arkoma purchased 573,453 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $10.64 per share, for a total transaction of $6,101,539.92. Following the completion of the purchase, the insider now directly owns 203,450,946 shares in the company, valued at $2,164,718,065.44. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Star Exploration Corp Blue bought 825,868 shares of the stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $8.82 per share, for a total transaction of $7,284,155.76. Following the completion of the transaction, the insider now owns 197,298,165 shares of the company's stock, valued at approximately $1,740,169,815.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Drilling L.P. Arkoma bought 573,453 shares of the company's stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $10.64 per share, with a total value of $6,101,539.92. Following the completion of the acquisition, the insider now owns 203,450,946 shares of the company's stock, valued at approximately $2,164,718,065.44. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 4,032,087 shares of company stock valued at $38,124,794. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Comstock Resources

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC raised its holdings in Comstock Resources by 7.4% during the first quarter. ProShare Advisors LLC now owns 18,536 shares of the oil and gas producer's stock worth $172,000 after purchasing an additional 1,276 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Comstock Resources by 27.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,083 shares of the oil and gas producer's stock worth $63,000 after buying an additional 1,312 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Comstock Resources by 4.8% in the 2nd quarter. XTX Topco Ltd now owns 28,791 shares of the oil and gas producer's stock worth $299,000 after buying an additional 1,330 shares in the last quarter. Simplicity Wealth LLC boosted its position in shares of Comstock Resources by 5.7% in the 2nd quarter. Simplicity Wealth LLC now owns 28,544 shares of the oil and gas producer's stock worth $296,000 after buying an additional 1,552 shares in the last quarter. Finally, Outfitter Financial LLC grew its stake in Comstock Resources by 5.0% in the 4th quarter. Outfitter Financial LLC now owns 34,300 shares of the oil and gas producer's stock valued at $304,000 after acquiring an additional 1,630 shares during the last quarter. Hedge funds and other 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.