Q1 2024 EPS Estimates for Comstock Resources, Inc. (NYSE:CRK) Decreased by Capital One Financial

Comstock Resources, Inc. (NYSE:CRK) – Investment analysts at Capital One Financial reduced their Q1 2024 earnings per share (EPS) estimates for Comstock Resources in a report released on Wednesday, April 3rd. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will earn ($0.07) per share for the quarter, down from their previous forecast of $0.12. The consensus estimate for Comstock Resources’ current full-year earnings is $0.35 per share. Capital One Financial also issued estimates for Comstock Resources’ Q2 2024 earnings at ($0.01) EPS, Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at ($0.01) EPS and FY2024 earnings at ($0.10) EPS.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $410.58 million for the quarter, compared to analyst estimates of $401.97 million. Comstock Resources had a return on equity of 5.65% and a net margin of 13.49%. The firm’s quarterly revenue was down 55.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share.

CRK has been the topic of several other research reports. StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Thursday, April 4th. Pickering Energy Partners upgraded Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. Siebert Williams Shank assumed coverage on Comstock Resources in a report on Tuesday, December 19th. They set a “hold” rating and a $10.00 target price on the stock. Mizuho dropped their target price on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a report on Friday, March 15th. Finally, The Goldman Sachs Group upped their target price on Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.00.

Comstock Resources Stock Up 3.4 %

CRK stock opened at $9.64 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $2.68 billion, a P/E ratio of 12.68 and a beta of 0.70. The business has a 50-day moving average of $8.28 and a 200-day moving average of $9.55. Comstock Resources has a fifty-two week low of $7.07 and a fifty-two week high of $13.39.

Hedge Funds Weigh In On Comstock Resources

A number of large investors have recently made changes to their positions in CRK. Raymond James Financial Services Advisors Inc. bought a new position in shares of Comstock Resources during the first quarter worth approximately $310,000. Citigroup Inc. grew its position in Comstock Resources by 21.2% during the first quarter. Citigroup Inc. now owns 240,161 shares of the oil and gas producer’s stock worth $3,134,000 after buying an additional 42,001 shares in the last quarter. Bank of Montreal Can grew its position in Comstock Resources by 14.8% during the first quarter. Bank of Montreal Can now owns 15,258 shares of the oil and gas producer’s stock worth $201,000 after buying an additional 1,965 shares in the last quarter. MetLife Investment Management LLC grew its position in Comstock Resources by 58.5% during the first quarter. MetLife Investment Management LLC now owns 54,147 shares of the oil and gas producer’s stock worth $707,000 after buying an additional 19,984 shares in the last quarter. Finally, BlackRock Inc. grew its position in Comstock Resources by 12.5% during the first quarter. BlackRock Inc. now owns 7,076,353 shares of the oil and gas producer’s stock worth $92,347,000 after buying an additional 786,726 shares in the last quarter. 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 on Monday, March 25th. The shares were purchased at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the completion of the purchase, the insider now directly owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.50% of the company’s stock.

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.