Analysts expect Comstock Resources Inc (NYSE:CRK) to post $93.45 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Comstock Resources’ earnings, with estimates ranging from $89.50 million to $97.40 million. Comstock Resources reported sales of $66.81 million in the same quarter last year, which would suggest a positive year over year growth rate of 39.9%. The business is scheduled to report its next earnings results on Thursday, November 1st.
On average, analysts expect that Comstock Resources will report full year sales of $365.65 million for the current financial year, with estimates ranging from $360.90 million to $370.40 million. For the next financial year, analysts expect that the firm will report sales of $620.35 million, with estimates ranging from $604.80 million to $635.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Comstock Resources.
Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported ($0.78) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.78). The company had revenue of $61.45 million for the quarter, compared to the consensus estimate of $62.35 million.
Separately, LADENBURG THALM/SH SH raised shares of Comstock Resources from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $11.20.
Shares of Comstock Resources stock traded up $0.06 on Monday, hitting $8.45. 427,226 shares of the company traded hands, compared to its average volume of 645,396. The company has a debt-to-equity ratio of -2.61, a quick ratio of 1.07 and a current ratio of 1.07. Comstock Resources has a 52 week low of $4.01 and a 52 week high of $12.32. The company has a market capitalization of $136.41 million, a PE ratio of -2.17 and a beta of -0.16.
A number of large investors have recently modified their holdings of the stock. Hodges Capital Management Inc. raised its stake in Comstock Resources by 3.5% in the second quarter. Hodges Capital Management Inc. now owns 1,440,522 shares of the oil and gas producer’s stock worth $15,140,000 after buying an additional 48,363 shares in the last quarter. Renaissance Technologies LLC raised its stake in Comstock Resources by 18.8% in the second quarter. Renaissance Technologies LLC now owns 778,500 shares of the oil and gas producer’s stock worth $8,182,000 after buying an additional 123,000 shares in the last quarter. Millennium Management LLC bought a new position in Comstock Resources in the first quarter worth approximately $2,130,000. Spark Investment Management LLC raised its stake in Comstock Resources by 402.3% in the second quarter. Spark Investment Management LLC now owns 280,800 shares of the oil and gas producer’s stock worth $2,951,000 after buying an additional 224,900 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Comstock Resources by 69.0% in the first quarter. Russell Investments Group Ltd. now owns 108,677 shares of the oil and gas producer’s stock worth $795,000 after buying an additional 44,372 shares in the last quarter. 38.28% of the stock is owned by institutional investors.
Comstock Resources Company Profile
Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and gas resources primarily in Texas and Louisiana. The company is headquartered in Frisco, Texas.
See Also: What is a stock split?
Get a free copy of the Zacks research report on Comstock Resources (CRK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Comstock Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comstock Resources and related companies with MarketBeat.com's FREE daily email newsletter.