Analysts Offer Predictions for Comstock Resources, Inc.’s Q3 2023 Earnings (NYSE:CRK)

Posted by Defense World Staff on Oct 6th, 2023

Comstock Resources, Inc. (NYSE:CRK – Free Report) – Research analysts at Capital One Financial reduced their Q3 2023 earnings per share estimates for shares of Comstock Resources in a report released on Tuesday, October 3rd. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will post earnings per share of $0.04 for the quarter, down from their prior forecast of $0.05. The consensus estimate for Comstock Resources’ current full-year earnings is $0.74 per share. Capital One Financial also issued estimates for Comstock Resources’ Q4 2023 earnings at $0.18 EPS and FY2023 earnings at $0.56 EPS.

A number of other research analysts also recently issued reports on the company. Mizuho cut their price objective on Comstock Resources from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, September 18th. Truist Financial raised their price target on Comstock Resources from $10.00 to $12.00 and gave the company a “hold” rating in a report on Monday, September 11th. Piper Sandler lowered their price target on Comstock Resources from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, August 14th. StockNews.com began coverage on shares of Comstock Resources in a research report on Thursday. They set a “sell” rating for the company. Finally, Stifel Nicolaus lifted their price target on shares of Comstock Resources from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.75.

Get Our Latest Report on Comstock Resources

Comstock Resources Trading Up 5.1 %

Shares of CRK stock opened at $10.85 on Thursday. Comstock Resources has a 1 year low of $9.07 and a 1 year high of $21.17. The firm has a fifty day moving average price of $11.70 and a 200-day moving average price of $11.04. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 3.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.37 and a quick ratio of 0.37.

Institutional Trading of Comstock Resources

A number of large investors have recently modified their holdings of CRK. PNC Financial Services Group Inc. increased its position in Comstock Resources by 214.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,716 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,851 shares during the period. Steward Financial Group LLC purchased a new stake in shares of Comstock Resources during the 2nd quarter worth $42,000. FNY Investment Advisers LLC bought a new stake in Comstock Resources during the first quarter valued at about $48,000. KBC Group NV purchased a new position in Comstock Resources in the second quarter valued at about $73,000. Finally, CWM LLC raised its holdings in Comstock Resources by 15.3% in the first quarter. CWM LLC now owns 8,444 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 1,123 shares in the last quarter. Hedge funds and other institutional investors own 32.58% of the company’s stock.

Comstock Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.125 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.50 annualized dividend and a yield of 4.61%. Comstock Resources’s payout ratio is 14.41%.

About Comstock Resources

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Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. The company was incorporated in 1919 and is based in Frisco, Texas.