Brokerages expect Comstock Resources Inc (NYSE:CRK) to report $129.80 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Comstock Resources’ earnings. The highest sales estimate is $131.80 million and the lowest is $126.70 million. Comstock Resources reported sales of $61.45 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 111.2%. The company is expected to issue its next earnings results on Wednesday, August 14th.
On average, analysts expect that Comstock Resources will report full year sales of $846.50 million for the current year, with estimates ranging from $845.00 million to $848.00 million. For the next fiscal year, analysts expect that the firm will post sales of $1.46 billion, with estimates ranging from $1.43 billion to $1.49 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Comstock Resources.
Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Thursday, May 9th. The oil and gas producer reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.05). Comstock Resources had a net margin of 6.04% and a return on equity of 14.66%. The business had revenue of $126.88 million during the quarter, compared to the consensus estimate of $130.70 million.
Several equities analysts have issued reports on the company. B. Riley assumed coverage on Comstock Resources in a research report on Monday, May 20th. They issued a “neutral” rating and a $6.50 price objective for the company. Capital One Financial cut Comstock Resources from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, March 20th. ValuEngine cut Comstock Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research raised Comstock Resources from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.33.
CRK traded up $0.06 during trading on Tuesday, hitting $5.21. The company’s stock had a trading volume of 278,300 shares, compared to its average volume of 316,417. The company’s 50 day moving average price is $5.16. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.68 and a current ratio of 0.68. Comstock Resources has a 12 month low of $4.17 and a 12 month high of $12.32.
Institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its holdings in Comstock Resources by 30.1% during the 1st quarter. First Trust Advisors LP now owns 177,840 shares of the oil and gas producer’s stock worth $1,232,000 after acquiring an additional 41,094 shares during the period. TCG Advisors LP acquired a new stake in shares of Comstock Resources in the 1st quarter valued at about $913,000. Quantamental Technologies LLC acquired a new stake in shares of Comstock Resources in the 1st quarter valued at about $30,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Comstock Resources in the 1st quarter valued at about $316,000. Finally, CWM LLC acquired a new stake in shares of Comstock Resources in the 1st quarter valued at about $435,000. 6.87% of the stock is owned by institutional investors and hedge funds.
About Comstock Resources
Comstock Resources, Inc and its subsidiaries engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. The company is headquartered in Frisco, Texas.
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