Roth Capital Brokers Reduce Earnings Estimates for Comstock Resources, Inc. (NYSE:CRK)

Comstock Resources, Inc. (NYSE:CRK) – Analysts at Roth Capital dropped their Q4 2024 earnings estimates for Comstock Resources in a report issued on Thursday, May 2nd. Roth Capital analyst L. Mariani now expects that the oil and gas producer will earn $0.07 per share for the quarter, down from their prior forecast 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 released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The firm had revenue of $335.77 million for the quarter, compared to analysts’ expectations of $343.97 million. During the same period in the prior year, the firm earned $0.33 EPS. The company’s revenue was down 31.4% compared to the same quarter last year.

Several other equities analysts have also recently weighed in on CRK. Truist Financial lowered their price objective on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, February 13th. Mizuho dropped their price target on shares of Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th. Stifel Nicolaus reduced their price objective on Comstock Resources from $14.00 to $13.50 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. StockNews.com upgraded Comstock Resources to a “sell” rating in a research report on Monday, April 29th. Finally, Pickering Energy Partners upgraded Comstock Resources from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.75.

Comstock Resources Stock Up 1.2 %

CRK stock opened at $9.98 on Monday. The business’s 50-day moving average is $9.04 and its two-hundred day moving average is $9.32. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 45.37 and a beta of 0.70. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $13.39. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.64.

Institutional Investors Weigh In On Comstock Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in Comstock Resources by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 922,263 shares of the oil and gas producer’s stock valued at $10,173,000 after acquiring an additional 60,830 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Comstock Resources by 280.7% during the third quarter. Hsbc Holdings PLC now owns 409,406 shares of the oil and gas producer’s stock valued at $4,556,000 after purchasing an additional 301,863 shares in the last quarter. Barclays PLC increased its holdings in shares of Comstock Resources by 139.7% in the third quarter. Barclays PLC now owns 326,486 shares of the oil and gas producer’s stock worth $3,600,000 after purchasing an additional 190,254 shares during the last quarter. KGH Ltd lifted its position in shares of Comstock Resources by 119.3% in the third quarter. KGH Ltd now owns 8,586,000 shares of the oil and gas producer’s stock worth $94,704,000 after buying an additional 4,670,959 shares in the last quarter. Finally, Wealthsource Partners LLC purchased a new stake in shares of Comstock Resources in the fourth quarter worth about $134,000. Institutional investors own 36.13% of the company’s stock.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue acquired 12,500,000 shares of the company’s stock in a transaction dated 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 purchase, the insider now directly owns 194,821,429 shares in the company, valued at approximately $1,566,364,289.16. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.50% 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.