Wall Street analysts expect Comstock Resources Inc (NYSE:CRK) to report sales of $71.92 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Comstock Resources’ earnings. The highest sales estimate is $72.03 million and the lowest is $71.80 million. Comstock Resources posted sales of $48.50 million during the same quarter last year, which would indicate a positive year over year growth rate of 48.3%. The firm is expected to announce its next earnings report before the market opens on Monday, February 26th.

According to Zacks, analysts expect that Comstock Resources will report full year sales of $71.92 million for the current year, with estimates ranging from $253.08 million to $253.90 million. For the next financial year, analysts forecast that the business will report sales of $318.25 million per share, with estimates ranging from $314.80 million to $321.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Comstock Resources.

CRK has been the subject of several research analyst reports. Robert W. Baird set a $12.00 price target on Comstock Resources and gave the stock a “buy” rating in a research note on Friday, November 17th. KeyCorp reiterated a “hold” rating on shares of Comstock Resources in a report on Friday, November 24th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Comstock Resources has an average rating of “Hold” and a consensus target price of $11.75.

In related news, CEO M Jay Allison acquired 41,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were purchased at an average price of $6.17 per share, for a total transaction of $252,970.00. Following the completion of the acquisition, the chief executive officer now owns 520,130 shares in the company, valued at $3,209,202.10. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders bought 173,500 shares of company stock worth $1,136,570. Company insiders own 11.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRK. Bank of New York Mellon Corp increased its holdings in shares of Comstock Resources by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 54,970 shares of the oil and gas producer’s stock worth $389,000 after buying an additional 10,480 shares during the period. Northern Trust Corp increased its holdings in shares of Comstock Resources by 3.4% in the second quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock worth $225,000 after buying an additional 1,055 shares during the period. Vanguard Group Inc. increased its holdings in shares of Comstock Resources by 40.4% in the second quarter. Vanguard Group Inc. now owns 628,355 shares of the oil and gas producer’s stock worth $4,443,000 after buying an additional 180,935 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Comstock Resources by 22.7% in the third quarter. Russell Investments Group Ltd. now owns 59,041 shares of the oil and gas producer’s stock worth $359,000 after buying an additional 10,936 shares during the period. Finally, First Washington CORP increased its holdings in shares of Comstock Resources by 227.8% in the third quarter. First Washington CORP now owns 368,562 shares of the oil and gas producer’s stock worth $2,241,000 after buying an additional 256,122 shares during the period. Hedge funds and other institutional investors own 52.34% of the company’s stock.

Shares of Comstock Resources (NYSE:CRK) opened at $7.11 on Friday. The company has a debt-to-equity ratio of -3.32, a quick ratio of 0.58 and a current ratio of 0.58. Comstock Resources has a 52 week low of $4.01 and a 52 week high of $12.37. The stock has a market capitalization of $111.70, a PE ratio of -0.77 and a beta of -0.30.

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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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Earnings History and Estimates for Comstock Resources (NYSE:CRK)

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