Roth Capital Analysts Decrease Earnings Estimates for CRK

Comstock Resources, Inc. (NYSE:CRK - Free Report) - Research analysts at Roth Capital cut their FY2024 earnings per share estimates for shares of Comstock Resources in a research note issued on Wednesday, October 30th. Roth Capital analyst L. Mariani now expects that the oil and gas producer will post earnings per share of ($0.40) for the year, down from their prior estimate of ($0.33). The consensus estimate for Comstock Resources' current full-year earnings is ($0.42) per share. Roth Capital also issued estimates for Comstock Resources' Q1 2025 earnings at $0.06 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.42 EPS.

Other analysts have also issued research reports about the company. Wolfe Research started coverage on Comstock Resources in a report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Bank of America started coverage on Comstock Resources in a report on Monday, October 28th. They issued a "buy" rating and a $14.00 target price on the stock. Siebert Williams Shank lowered Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 target price on the stock. in a report on Tuesday, October 15th. Truist Financial raised their target price on Comstock Resources from $9.00 to $10.00 and gave the company a "hold" rating in a report on Monday, September 30th. Finally, Mizuho lowered their target price on Comstock Resources from $11.00 to $10.00 and set an "underperform" rating on the stock in a report on Monday, September 16th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Comstock Resources has an average rating of "Hold" and a consensus target price of $10.31.

Comstock Resources Stock Performance

Shares of CRK stock traded up $0.44 during trading on Monday, reaching $11.59. The company had a trading volume of 2,278,062 shares, compared to its average volume of 3,569,694. The firm's 50 day simple moving average is $11.03 and its two-hundred day simple moving average is $10.71. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.59. Comstock Resources has a one year low of $7.07 and a one year high of $13.24. The company has a market capitalization of $3.39 billion, a PE ratio of -63.28 and a beta of 0.47.

Comstock Resources (NYSE:CRK - Get Free Report) 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 analysts' consensus estimates of ($0.16) by ($0.01). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The company had revenue of $304.50 million during the quarter, compared to the consensus estimate of $308.75 million. During the same period in the previous year, the business posted $0.04 earnings per share. The firm's revenue was down 19.2% on a year-over-year basis.

Institutional Trading of Comstock Resources

Several institutional investors have recently bought and sold shares of CRK. Dimensional Fund Advisors LP raised its position in 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 last quarter. KGH Ltd raised its position in Comstock Resources by 8.7% in the 2nd quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer's stock valued at $125,858,000 after purchasing an additional 975,000 shares during the last quarter. Millennium Management LLC raised its position in Comstock Resources by 775.4% in the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer's stock valued at $9,086,000 after purchasing an additional 775,371 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in Comstock Resources in the 2nd quarter valued at $6,544,000. Finally, American Century Companies Inc. raised its position in Comstock Resources by 19.0% in the 2nd quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer's stock valued at $23,567,000 after purchasing an additional 362,043 shares during the last quarter. Institutional investors and hedge funds own 36.13% of the company's stock.

Insider Transactions at Comstock Resources

In other news, major shareholder Drilling L.P. Arkoma acquired 573,453 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $10.64 per share, with a total value of $6,101,539.92. Following the acquisition, the insider now owns 203,450,946 shares of the company's stock, valued at $2,164,718,065.44. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 acquired at an average price of $10.64 per share, with a total value of $6,101,539.92. Following the purchase, the insider now directly owns 203,450,946 shares in the company, valued at $2,164,718,065.44. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Star Exploration Corp Blue purchased 825,868 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $8.82 per share, for a total transaction of $7,284,155.76. Following the purchase, the insider now owns 197,298,165 shares in the company, valued at $1,740,169,815.30. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 5,887,733 shares of company stock valued at $61,084,851. 2.00% of the stock is owned by corporate insiders.

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.