CRK
Comstock Resources Inc
NYSE: CRK · ENERGY · OIL & GAS E&P
$13.52
+2.66% today
Updated 2026-06-12
Market cap
$3.97B
P/E ratio
6.12
P/S ratio
1.98x
EPS (TTM)
$2.21
Dividend yield
—
52W range
$12 – $31
Volume
2.5M
Comstock Resources Inc (CRK) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed CRK price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$13.52
Today
Analyst consensus
$19.89
+47.12% · 12M
2030 Base
$-2.44
-118.05% future
NPV today
$-2.44
@ 6% WACC
15 analysts:
1 Buy6 Hold3 Sell
Management guidance
Management has not provided explicit multi-year revenue targets in public guidance. However, CEO Jay Allison emphasized Western Haynesville development as core growth driver, with the company turning 16 Haynesville wells to sales in Q1 2026 and securing a 5.2 GW power generation hub gas supply agreement with NextEra Energy, which represents a long-term demand commitment. Management stated intention to achieve positive free cash flow by 2028 and to pursue an equity partner for Pinnacle Gas Services midstream operations.
Sources: Management guidance, analyst consensus, sector analysismedium confidence
CRK · Comstock Resources Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$-2.44
NPV today: $-2.44
Base case (2030)
$-2.44
NPV today: $-2.44
Bull case (2030)
$12.08
NPV today: $9.36
WallStSmart.com
CRK financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $1.9B | $2.4B | $2.9B | $3.4B | $3.9B | $4.3B |
| Revenue growth | 52.2% | 5.9% | 21.3% | 20.0% | 14.0% | 10.8% |
| Net margin | — | 10.3% | 12.9% | 14.6% | 14.6% | 15.0% |
| EPS | $0.87 | $0.82 | $1.24 | $1.68 | $1.92 | $2.18 |
| Diluted shares | — | 295M | 295M | 296M | 297M | 298M |
| Net debt | — | $3.44B | $3.75B | $4.13B | $4.57B | $5.05B |
| P/S multiple | — | 1.0x | 1.0x | 1.0x | 1.0x | 1.0x |
| Implied price (base) | — | $-3.68 | $-3.05 | $-2.40 | $-2.24 | $-2.44 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $4.3B | $4.3B | $4.3B |
| P/S multiple | 1.0x | 1.0x | 2.0x |
| Diluted shares | 298M | 298M | 298M |
| Net debt | $5.05B | $5.05B | $5.05B |
| Implied P/E † | -1x | -1x | 6x |
| 2030 Price | $-2.44 | $-2.44 | $12.08 |
| NPV @ 6% | $-2.44 | $-2.44 | $9.36 |
† Implied P/E: Multiples remain elevated across all three scenarios because CRK is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $-2.44 base case
CRK catalysts and risks
Growth catalysts
+ Western Haynesville power hub gas supply agreement execution and ramp with NextEra Energy beginning 2027-2028
+ Production growth from 16 recently completed wells and ongoing drilling program in Western Haynesville with high initial rates (30 MMcf/day)
+ Potential equity partner monetization of Pinnacle Gas Services midstream company; strategic M&A consolidation in E&P sector
+ Natural gas price stabilization above $3.00/MMBtu supported by AI/power generation hub demand and reduced supply growth
+ Midstream monetization and positive FCF achievement by 2028 providing capital return flexibility
Key risks
- Commodity price risk: natural gas prices have collapsed 60%+ recently; sustained sub-$2.50 environment decimates realized margins and FCF
- Production execution risk: Q1 2026 missed production guidance due to winter weather and well timing delays; Western Haynesville geology unproven at scale
- Concentration risk: 100% exposure to Haynesville shale basin with no geographic diversification; single basin downturn = company-wide collapse
- Capital intensity and FCF pressure: despite $2B+ revenue, company burning cash on E&D; FCF positive not expected until 2028+
- Power hub demand risk: NextEra deal not yet contracted with binding take-or-pay terms; regulatory/construction delays could defer revenue recognition
- Analyst consensus downgrade trend: 4 major downgrades (UBS, BofA, Mizuho, Williams) in past 6 months; consensus price target declining from $20.88 to $19.89
- Valuation multiple compression: stock down 39% YoY despite strong commodity environment; market skeptical of growth assumptions
Methodology · Comstock Resources Inc 2030 stock forecast model
Comstock Resources Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 15 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (1% cumulative for CRK by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($5.05B by 2030) |
| 3. Time value | NPV calculated using 6% WACC (CAPM: beta 0.219) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 1.0x / bull 2.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
CRK price target FAQ
What is the CRK price target for 2030?
WallStSmart's Comstock Resources Inc 2030 base case is $-2.44 per share, with a bull case of $12.08 and bear case of $-2.44. The NPV of the base case discounted to today at 6% WACC is $-2.44.
How is the Comstock Resources Inc 2030 stock forecast calculated?
The CRK 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the CRK price target account for dilution?
Comstock Resources Inc is projected to grow diluted share count from 294M to 298M by 2030 (a 1% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 1%.
What is the analyst consensus on CRK stock?
15 analysts cover CRK with an average 12-month price target of $19.89. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.