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

Comstock Resources, Inc. (NYSE:CRK) – Roth Capital lowered their Q4 2024 earnings per share (EPS) estimates for shares of Comstock Resources in a research report issued on Wednesday, July 31st. Roth Capital analyst L. Mariani now anticipates that the oil and gas producer will post earnings per share of $0.02 for the quarter, down from their previous forecast of $0.07. The consensus estimate for Comstock Resources’ current full-year earnings is ($0.13) per share. Roth Capital also issued estimates for Comstock Resources’ Q4 2025 earnings at $0.18 EPS.

A number of other brokerages have also recently weighed in on CRK. Capital One Financial cut shares of Comstock Resources from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 15th. Wolfe Research initiated coverage on Comstock Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. The Goldman Sachs Group lifted their price objective on Comstock Resources from $9.00 to $10.00 and gave the stock a “sell” rating in a research report on Tuesday, May 28th. Mizuho upped their target price on shares of Comstock Resources from $10.00 to $11.00 and gave the company an “underperform” rating in a report on Monday, May 13th. Finally, KeyCorp initiated coverage on shares of Comstock Resources in a research note on Thursday, June 27th. They set a “sector weight” rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.25.

Comstock Resources Stock Performance

Shares of CRK opened at $9.07 on Friday. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $13.39. The stock has a market cap of $2.65 billion, a P/E ratio of 41.23 and a beta of 0.51. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average of $10.85 and a two-hundred day moving average of $9.57.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The firm had revenue of $246.80 million during the quarter, compared to analysts’ expectations of $296.02 million. The business’s quarterly revenue was down 14.4% compared to the same quarter last year.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. purchased a new stake in Comstock Resources during the second quarter valued at about $32,000. GAMMA Investing LLC lifted its position in Comstock Resources by 428.9% during the first quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in Comstock Resources by 2,161.0% during the first quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 4,711 shares during the period. Forum Financial Management LP purchased a new position in shares of Comstock Resources in the 4th quarter valued at $90,000. Finally, Headlands Technologies LLC purchased a new stake in Comstock Resources during the 1st quarter worth $91,000. Institutional investors and hedge funds own 36.13% 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.