Comstock Resources, Inc. (NYSE:CRK) Forecasted to Earn FY2025 Earnings of $0.81 Per Share

Comstock Resources, Inc. (NYSE:CRK) – Investment analysts at Capital One Financial dropped their FY2025 earnings per share estimates for shares of Comstock Resources in a report issued on Friday, April 19th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will post earnings per share of $0.81 for the year, down from their previous estimate of $0.82. The consensus estimate for Comstock Resources’ current full-year earnings is $0.06 per share.

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

CRK has been the subject of a number of other reports. The Goldman Sachs Group increased their price target on Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Tuesday, April 2nd. Piper Sandler lowered their price objective on shares of Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Mizuho cut their target price on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research report on Monday, April 15th. StockNews.com raised Comstock Resources to a “sell” rating in a research report on Thursday, April 4th. Finally, Pickering Energy Partners raised Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.67.

Comstock Resources Stock Performance

Shares of CRK stock opened at $9.52 on Monday. Comstock Resources has a 12-month low of $7.07 and a 12-month high of $13.39. The business’s fifty day simple moving average is $8.58 and its 200-day simple moving average is $9.48. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The company has a market cap of $2.65 billion, a PE ratio of 12.53 and a beta of 0.70.

Insider Buying and Selling at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 12,500,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were purchased at an average cost of $8.04 per share, for a total transaction of $100,500,000.00. Following the transaction, the insider now directly owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Comstock Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Comstock Resources by 115.3% in the first quarter. BlackRock Inc. now owns 14,112,832 shares of the oil and gas producer’s stock valued at $152,277,000 after buying an additional 7,556,426 shares during the last quarter. KGH Ltd boosted its stake in Comstock Resources by 119.3% during 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 during the last quarter. Millennium Management LLC increased its stake in shares of Comstock Resources by 1,460.0% in the 4th quarter. Millennium Management LLC now owns 2,864,944 shares of the oil and gas producer’s stock worth $39,278,000 after acquiring an additional 2,681,292 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Comstock Resources during the 2nd quarter worth $30,443,000. Finally, Vanguard Group Inc. raised its holdings in shares of Comstock Resources by 36.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,783,037 shares of the oil and gas producer’s stock worth $169,148,000 after acquiring an additional 2,608,309 shares during the period. Hedge funds and other institutional investors own 36.13% 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.