Comstock Resources, Inc. (CRK) Expected to Post Quarterly Sales of $65.04 Million
Equities research analysts expect Comstock Resources, Inc. (NYSE:CRK) to post $65.04 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Comstock Resources’ earnings, with estimates ranging from $63.10 million to $67.10 million. Comstock Resources reported sales of $50.33 million during the same quarter last year, which indicates a positive year over year growth rate of 29.2%. The firm is expected to report its next quarterly earnings report on Tuesday, November 14th.
According to Zacks, analysts expect that Comstock Resources will report full-year sales of $65.04 million for the current financial year, with estimates ranging from $248.80 million to $263.90 million. For the next year, analysts expect that the business will report sales of $316.02 million per share, with estimates ranging from $296.07 million to $346.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Comstock Resources.
Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Monday, August 7th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.67) by $0.60. The firm had revenue of $61.47 million for the quarter, compared to analysts’ expectations of $63.93 million. During the same period in the previous year, the business posted $0.41 EPS.
A number of equities research analysts have recently issued reports on CRK shares. Capital One Financial Corporation restated an “underweight” rating on shares of Comstock Resources in a research note on Monday, August 7th. ValuEngine lowered shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a research note on Friday. Zacks Investment Research lowered shares of Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Stifel Nicolaus set a $12.00 target price on shares of Comstock Resources and gave the company a “buy” rating in a research note on Monday, August 14th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.21.
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Comstock Resources (NYSE CRK) opened at 6.43 on Friday. The firm’s 50 day moving average price is $6.60 and its 200 day moving average price is $7.85. Comstock Resources has a one year low of $5.52 and a one year high of $13.42. The stock’s market cap is $99.52 million.
Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Comstock Resources by 78.9% in the first quarter. Bank of New York Mellon Corp now owns 44,490 shares of the oil and gas producer’s stock valued at $410,000 after buying an additional 19,627 shares during the period. First Dallas Securities Inc. raised its stake in Comstock Resources by 13.3% in the first quarter. First Dallas Securities Inc. now owns 32,367 shares of the oil and gas producer’s stock valued at $299,000 after buying an additional 3,787 shares during the period. Hodges Capital Management Inc. raised its stake in Comstock Resources by 23.1% in the first quarter. Hodges Capital Management Inc. now owns 1,496,062 shares of the oil and gas producer’s stock valued at $13,809,000 after buying an additional 280,613 shares during the period. SG Americas Securities LLC acquired a new stake in Comstock Resources during the first quarter valued at $176,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in Comstock Resources during the first quarter valued at $731,000. Hedge funds and other institutional investors own 53.77% of the company’s stock.
About Comstock Resources
Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.
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