Roth Capital Comments on Comstock Resources, Inc.’s Q4 2024 Earnings (NYSE:CRK)

Comstock Resources, Inc. (NYSE:CRK) – Roth Capital dropped their Q4 2024 earnings estimates for shares of Comstock Resources in a report released on Thursday, May 2nd. Roth Capital analyst L. Mariani now anticipates that the oil and gas producer will post earnings of $0.07 per share for the quarter, down from their previous 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.

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

A number of other equities analysts have also weighed in on CRK. Pickering Energy Partners upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 9th. Stifel Nicolaus cut their price objective on Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Piper Sandler decreased their target price on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. The Goldman Sachs Group raised their price target on shares of Comstock Resources from $8.00 to $9.00 and gave the company a “sell” rating in a report on Tuesday, April 2nd. Finally, Truist Financial decreased their price objective 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. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.75.

Comstock Resources Price Performance

CRK opened at $10.34 on Monday. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $13.39. The company’s 50 day simple moving average is $9.13 and its 200 day simple moving average is $9.29. The stock has a market capitalization of $3.02 billion, a PE ratio of 47.00 and a beta of 0.70. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64.

Insider Activity

In other 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 shares were purchased at an average price of $8.04 per share, with a total value of $100,500,000.00. Following the purchase, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Comstock Resources

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Comstock Resources by 428.9% during the 1st 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 during the last quarter. Hexagon Capital Partners LLC grew its holdings in Comstock Resources by 2,161.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 4,711 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Comstock Resources by 80.0% in the 3rd quarter. Federated Hermes Inc. now owns 5,500 shares of the oil and gas producer’s stock worth $61,000 after purchasing an additional 2,445 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Comstock Resources by 144.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,645 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 3,929 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Comstock Resources during the third quarter worth about $80,000. 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.