Analysts predict that Comstock Resources Inc (NYSE:CRK) will post ($0.74) earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Comstock Resources’ earnings, with the lowest EPS estimate coming in at ($0.87) and the highest estimate coming in at ($0.60). Comstock Resources posted earnings per share of ($1.07) during the same quarter last year, which indicates a positive year-over-year growth rate of 30.8%. The firm is expected to announce its next earnings results on Monday, August 6th.
According to Zacks, analysts expect that Comstock Resources will report full year earnings of $0.40 per share for the current financial year, with EPS estimates ranging from ($0.51) to $1.31. For the next fiscal year, analysts expect that the firm will report earnings of $1.18 per share, with EPS estimates ranging from $0.68 to $1.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Comstock Resources.
Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Thursday, May 10th. The oil and gas producer reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.45. The firm had revenue of $72.59 million during the quarter, compared to the consensus estimate of $76.10 million.
Several research firms have recently weighed in on CRK. ValuEngine raised shares of Comstock Resources from a “strong sell” rating to a “sell” rating in a report on Thursday, May 17th. Zacks Investment Research raised shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, June 12th. Stifel Nicolaus began coverage on shares of Comstock Resources in a report on Tuesday, May 22nd. They issued a “hold” rating and a $9.80 price target on the stock. Finally, Capital One Financial raised shares of Comstock Resources from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.95.
Shares of Comstock Resources stock traded down $0.10 during trading on Monday, hitting $10.48. The stock had a trading volume of 37,124 shares, compared to its average volume of 612,982. The stock has a market cap of $172.40 million, a P/E ratio of -2.71 and a beta of 0.10. Comstock Resources has a 12 month low of $4.01 and a 12 month high of $11.70. The company has a debt-to-equity ratio of -2.76, a quick ratio of 1.24 and a current ratio of 1.24.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PEAK6 Investments L.P. bought a new position in Comstock Resources in the fourth quarter valued at $104,000. Quantbot Technologies LP bought a new position in Comstock Resources in the first quarter valued at $104,000. Prime Capital Investment Advisors LLC increased its stake in Comstock Resources by 48.5% in the first quarter. Prime Capital Investment Advisors LLC now owns 53,960 shares of the oil and gas producer’s stock valued at $394,000 after acquiring an additional 17,620 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Comstock Resources in the fourth quarter valued at $228,000. Finally, A.R.T. Advisors LLC bought a new position in Comstock Resources in the first quarter valued at $230,000. 42.26% of the stock is currently owned by institutional investors and hedge funds.
About Comstock Resources
Comstock Resources, Inc, an independent energy company, acquires, develops, explores, and produces oil and natural gas properties in the United States. Its oil and gas operations are primarily located in East Texas/North Louisiana and South Texas; and New Mexico and the Mid-Continent region. The company owns interests in 1,309 producing oil and natural gas wells.
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