Comstock Resources, Inc. (NYSE: CRK – Get a rating) – Capital One Financial equity research analysts raised their third-quarter 2022 earnings per share estimates for shares of Comstock Resources in a research note released Wednesday, March 23. Capital One Financial analyst P. Johnston now expects the oil and gas producer to earn $0.76 per share for the quarter, up from its previous forecast of $0.67. Capital One Financial also released estimates for Comstock Resources’ fourth-quarter 2022 earnings at $0.84 EPS. Comstock Resources (NYSE:CRK- Get a rating) last reported results on Tuesday, February 15. The oil and gas producer reported earnings per share of $0.37 for the quarter, missing the consensus estimate of $0.40 per ($0.03). The company posted revenue of $655.38 million for the quarter, compared to $454.35 million expected by analysts. Comstock Resources posted a negative net margin of 13.06% and a positive return on equity of 34.73%. In the same quarter of the previous year, the company had earned earnings per share of $0.14.
CRK has been the subject of a number of other research reports. Mizuho lowered his price target on Comstock Resources from $15.00 to $13.00 in a Monday, January 3 research report. Zacks Investment Research upgraded Comstock Resources from a “strong sell” rating to a “hold” rating in a Monday, Feb. 7 research report. Truist Financial lowered its price target on Comstock Resources from $11.00 to $10.00 in a Friday, January 14 research report. Ultimately, StockNews.com downgraded Comstock Resources from a “buy” rating to a “hold” rating in a Saturday, February 26 research report. Three analysts have rated the stock with a hold rating and two have issued a buy rating for the company’s stock. Based on data from MarketBeat.com, Comstock Resources currently has a consensus rating of “Hold” and an average price target of $9.92.
Shares of CRK opened at $11.82 on Friday. The stock has a market capitalization of $2.75 billion, a PE ratio of -8.69 and a beta of 1.33. Comstock Resources has a 1-year low of $4.67 and a 1-year high of $12.09. The company has a 50-day moving average of $8.50 and a 200-day moving average of $8.85. The company has a debt ratio of 2.58, a current ratio of 0.50 and a quick ratio of 0.50.
Major investors have recently changed their positions in the company. State Street Corp increased its position in Comstock Resources by 410.7% in the fourth quarter. State Street Corp now owns 7,879,285 shares of the oil and gas producer valued at $63,743,000 after buying an additional 6,336,555 shares last quarter. Mirabella Financial Services LLP increased its position in Comstock Resources by 1,912.7% during the 4th quarter. Mirabella Financial Services LLP now owns 2,621,782 shares of the oil and gas producer valued at $3,207,000 after buying an additional 2,491,522 shares last quarter. Maple Rock Capital Partners Inc. bought a new position in Comstock Resources during Q3 valued at approximately $16,043,000. Dimensional Fund Advisors LP increased its position in Comstock Resources by 57.7% during the third quarter. Dimensional Fund Advisors LP now owns 3,672,448 shares of the oil and gas producer valued at $38,010,000 after buying an additional 1,344,266 shares last quarter. Finally, Foundry Partners LLC acquired a new position in Comstock Resources during the 4th quarter valued at approximately $10,558,000. 28.03% of the shares are held by hedge funds and other institutional investors.
About Comstock Resources (Get a rating)
Comstock Resources, Inc engages in the acquisition, development and exploration of oil and natural gas. The company’s operations have been focused in the Haynesville Shale, a premier natural gas basin located in East Texas. The company was founded in 1919 and is based in Frisco, TX.
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