Q3 Earnings Estimate for CRK Issued By KeyCorp

Comstock Resources, Inc. (NYSE:CRK - Free Report) - Investment analysts at KeyCorp issued their Q3 2024 earnings estimates for Comstock Resources in a research note issued on Thursday, October 17th. KeyCorp analyst T. Rezvan anticipates that the oil and gas producer will post earnings of ($0.19) per share for the quarter. KeyCorp has a "Sector Weight" rating on the stock. The consensus estimate for Comstock Resources' current full-year earnings is ($0.37) per share. KeyCorp also issued estimates for Comstock Resources' Q4 2024 earnings at $0.01 EPS and FY2024 earnings at ($0.41) EPS.

A number of other equities research analysts also recently weighed in on CRK. Siebert Williams Shank downgraded shares of Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 target price on the stock. in a research note on Tuesday, October 15th. Truist Financial raised their price objective on shares of Comstock Resources from $9.00 to $10.00 and gave the company a "hold" rating in a research report on Monday, September 30th. Wolfe Research started coverage on shares of Comstock Resources in a research report on Thursday, July 18th. They issued a "peer perform" rating for the company. Mizuho lowered their price target on Comstock Resources from $11.00 to $10.00 and set an "underperform" rating on the stock in a research report on Monday, September 16th. Finally, BMO Capital Markets upped their price objective on Comstock Resources from $10.00 to $11.00 and gave the stock a "market perform" rating in a report on Friday, October 4th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.79.

Comstock Resources Price Performance

Shares of CRK traded down $0.11 during trading hours on Monday, reaching $11.34. 1,168,664 shares of the company's stock traded hands, compared to its average volume of 3,631,931. Comstock Resources has a 12 month low of $7.07 and a 12 month high of $13.39. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The stock has a market cap of $3.31 billion, a PE ratio of 51.55 and a beta of 0.47. The firm's 50 day simple moving average is $10.82 and its 200-day simple moving average is $10.54.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share (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 business had revenue of $246.80 million during the quarter, compared to analysts' expectations of $296.02 million. The company's revenue was down 14.4% compared to the same quarter last year.

Insider Buying and Selling

In related news, major shareholder Drilling L.P. Arkoma acquired 592,246 shares of the company's stock in a transaction dated Monday, August 26th. The stock was purchased at an average price of $11.54 per share, with a total value of $6,834,518.84. Following the completion of the purchase, the insider now owns 208,219,992 shares in the company, valued at $2,402,858,707.68. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Drilling L.P. Arkoma acquired 592,246 shares of the firm's stock in a transaction on Monday, August 26th. The shares were purchased at an average price of $11.54 per share, for a total transaction of $6,834,518.84. Following the completion of the transaction, the insider now owns 208,219,992 shares of the company's stock, valued at $2,402,858,707.68. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Star Exploration Corp Blue bought 825,000 shares of the company's stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $8.16 per share, with a total value of $6,732,000.00. Following the completion of the acquisition, the insider now owns 195,646,429 shares of the company's stock, valued at $1,596,474,860.64. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,712,733 shares of company stock worth $67,816,851 in the last ninety days. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Comstock Resources

Hedge funds have recently made changes to their positions in the business. KGH Ltd raised its stake in Comstock Resources by 8.7% in the second quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer's stock worth $125,858,000 after buying an additional 975,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Comstock Resources by 26.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer's stock valued at $121,414,000 after purchasing an additional 2,438,252 shares during the period. Vanguard Group Inc. boosted its position in shares of Comstock Resources by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 10,829,100 shares of the oil and gas producer's stock valued at $95,838,000 after purchasing an additional 34,231 shares in the last quarter. American Century Companies Inc. grew its stake in Comstock Resources by 19.0% in the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer's stock worth $23,567,000 after purchasing an additional 362,043 shares during the period. Finally, Millennium Management LLC raised its holdings in Comstock Resources by 775.4% in the second quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer's stock worth $9,086,000 after purchasing an additional 775,371 shares in the last quarter. 36.13% of the stock is owned by hedge funds and other 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.