Wall Street analysts predict that Comstock Resources, Inc. (NYSE:CRK) will report sales of $64.26 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Comstock Resources’ earnings, with the highest sales estimate coming in at $66.88 million and the lowest estimate coming in at $62.80 million. Comstock Resources reported sales of $50.33 million in the same quarter last year, which indicates a positive year-over-year growth rate of 27.7%. The business is scheduled to announce its next quarterly earnings results before the market opens on Monday, November 6th.
According to Zacks, analysts expect that Comstock Resources will report full year sales of $64.26 million for the current year, with estimates ranging from $248.80 million to $260.12 million. For the next fiscal year, analysts expect that the firm will post sales of $311.46 million per share, with estimates ranging from $292.20 million to $346.10 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Comstock Resources.
Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Monday, August 7th. The oil and gas producer reported ($1.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.60. The business had revenue of $61.47 million during the quarter, compared to analyst estimates of $63.93 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share.
Several analysts have issued reports on the stock. ValuEngine cut shares of Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Stifel Nicolaus set a $12.00 target price on shares of Comstock Resources and gave the stock a “buy” rating in a research note on Monday, August 14th. Barclays PLC lowered their target price on shares of Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Zacks Investment Research cut shares of Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Capital One Financial Corporation reiterated an “underweight” rating on shares of Comstock Resources in a research note on Monday, August 7th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.40.
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A number of institutional investors have recently made changes to their positions in CRK. SG Americas Securities LLC bought a new stake in Comstock Resources in the 1st quarter worth $176,000. Northern Trust Corp grew its holdings in Comstock Resources by 3.4% in the 2nd quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock worth $225,000 after acquiring an additional 1,055 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Comstock Resources by 7.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 48,105 shares of the oil and gas producer’s stock worth $340,000 after acquiring an additional 3,345 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Comstock Resources by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 54,970 shares of the oil and gas producer’s stock worth $389,000 after acquiring an additional 10,480 shares during the last quarter. Finally, First Washington CORP bought a new stake in Comstock Resources in the 2nd quarter worth $795,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.
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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