Wall Street brokerages expect Comstock Resources Inc (NYSE:CRK) to announce sales of $75.83 million for the current quarter, Zacks reports. Two analysts have issued estimates for Comstock Resources’ earnings, with the lowest sales estimate coming in at $75.76 million and the highest estimate coming in at $75.90 million. Comstock Resources posted sales of $53.80 million during the same quarter last year, which suggests a positive year over year growth rate of 40.9%. The business is expected to report its next earnings report on Monday, May 14th.
On average, analysts expect that Comstock Resources will report full-year sales of $75.83 million for the current financial year, with estimates ranging from $282.20 million to $315.89 million. For the next year, analysts expect that the company will post sales of $333.77 million per share, with estimates ranging from $312.00 million to $355.55 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Comstock Resources.
Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Monday, February 26th. The oil and gas producer reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.94) by $0.63. The company 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 business earned ($2.58) EPS.
Separately, Zacks Investment Research downgraded shares of Comstock Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $9.13.
Several institutional investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC acquired a new stake in shares of Comstock Resources in the fourth quarter worth $2,223,000. Renaissance Technologies LLC acquired a new stake in shares of Comstock Resources in the fourth quarter worth $1,228,000. Macquarie Group Ltd. acquired a new stake in shares of Comstock Resources in the third quarter worth $430,000. Russell Investments Group Ltd. increased its position 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 acquiring an additional 10,936 shares in the last quarter. Finally, Virtu Financial LLC increased its position in shares of Comstock Resources by 362.4% in the fourth quarter. Virtu Financial LLC now owns 58,828 shares of the oil and gas producer’s stock worth $498,000 after acquiring an additional 46,107 shares in the last quarter. 44.19% of the stock is owned by institutional investors.
NYSE:CRK traded down $0.57 during trading hours on Monday, reaching $5.49. 761,377 shares of the company were exchanged, compared to its average volume of 546,640. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of -3.01. The company has a market cap of $97.97, a P/E ratio of -1.41 and a beta of -0.09. Comstock Resources has a 52-week low of $4.01 and a 52-week high of $10.72.
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Comstock Resources Company Profile
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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