Comstock Resources Inc (NYSE:CRK) – Analysts at Seaport Global Securities decreased their Q1 2018 EPS estimates for shares of Comstock Resources in a research note issued to investors on Monday, March 12th, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas producer will post earnings per share of ($1.04) for the quarter, down from their prior forecast of ($0.20). Seaport Global Securities also issued estimates for Comstock Resources’ Q2 2018 earnings at ($1.31) EPS, Q3 2018 earnings at ($1.29) EPS, Q4 2018 earnings at ($1.05) EPS and FY2018 earnings at ($4.68) EPS.
Separately, Zacks Investment Research raised shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.13.
NYSE:CRK traded down $0.57 during trading hours on Thursday, hitting $5.49. 761,377 shares of the stock traded hands, compared to its average volume of 546,640. The company has a debt-to-equity ratio of -3.01, a current ratio of 1.80 and a quick ratio of 1.80. Comstock Resources has a 1 year low of $4.01 and a 1 year high of $10.72. The company has a market capitalization of $97.97, a P/E ratio of -1.41 and a beta of -0.09.
Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Monday, February 26th. The oil and gas producer reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.63. The firm had revenue of $73.25 million for the quarter, compared to analysts’ expectations of $71.92 million. During the same period in the prior year, the firm earned ($2.58) EPS.
Several hedge funds have recently added to or reduced their stakes in CRK. Northern Trust Corp lifted 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of Comstock Resources by 40.4% during the 2nd quarter. Vanguard Group Inc. now owns 628,355 shares of the oil and gas producer’s stock worth $4,443,000 after purchasing an additional 180,935 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Comstock Resources by 22.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 59,041 shares of the oil and gas producer’s stock worth $359,000 after purchasing an additional 10,936 shares during the period. First Washington CORP grew its stake in shares of Comstock Resources by 227.8% during the 3rd quarter. First Washington CORP now owns 368,562 shares of the oil and gas producer’s stock worth $2,241,000 after purchasing an additional 256,122 shares during the period. Finally, ACR Alpine Capital Research LLC acquired a new stake in shares of Comstock Resources during the 3rd quarter worth approximately $304,000. 44.19% of the stock is currently owned by hedge funds and other institutional investors.
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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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