Q4 2024 EPS Estimates for Comstock Resources, Inc. Cut by Roth Capital (NYSE:CRK)

Comstock Resources, Inc. (NYSE:CRK) – Investment analysts at Roth Capital lowered their Q4 2024 earnings per share (EPS) estimates for shares of Comstock Resources in a note issued to investors 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 estimate 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.

Other equities analysts have also recently issued research reports about the company. Piper Sandler cut their price objective on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Thursday, March 7th. 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 report on Tuesday, April 23rd. Truist Financial cut their target price on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday, February 13th. The Goldman Sachs Group raised their price target on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.75.

Comstock Resources Stock Up 0.2 %

Comstock Resources stock opened at $10.34 on Monday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 47.00 and a beta of 0.70. The firm has a fifty day moving average price of $9.13 and a two-hundred day moving average price of $9.29. 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 current ratio of 0.64 and a quick ratio of 0.64.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $335.77 million for the quarter, compared to analyst estimates of $343.97 million. Comstock Resources had a net margin of 4.27% and a return on equity of 1.25%. The company’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share.

Insider Activity

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 194,821,429 shares of the company’s stock, valued at approximately $1,566,364,289.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds have recently modified their holdings of the stock. Capital Square LLC grew its position in Comstock Resources by 11.9% in the first quarter. Capital Square LLC now owns 65,650 shares of the oil and gas producer’s stock valued at $609,000 after acquiring an additional 6,990 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Comstock Resources during the 1st quarter worth about $1,904,000. Quantbot Technologies LP lifted its holdings in Comstock Resources by 30.5% during the 1st quarter. Quantbot Technologies LP now owns 47,041 shares of the oil and gas producer’s stock valued at $437,000 after purchasing an additional 11,003 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Comstock Resources in the first quarter valued at about $2,672,000. Finally, Pullen Investment Management LLC bought a new stake in Comstock Resources during the first quarter worth about $462,000. 36.13% of the stock is owned by institutional investors and hedge funds.

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.