Zacks: Analysts Expect Comstock Resources, Inc. (CRK) Will Announce Quarterly Sales of $65.67 Million
Analysts expect Comstock Resources, Inc. (NYSE:CRK) to report sales of $65.67 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Comstock Resources’ earnings, with estimates ranging from $64.07 million to $68.30 million. Comstock Resources reported sales of $40.72 million in the same quarter last year, which indicates a positive year over year growth rate of 61.3%. The firm is scheduled to announce its next quarterly earnings report on Monday, August 7th.
According to Zacks, analysts expect that Comstock Resources will report full year sales of $65.67 million for the current fiscal year, with estimates ranging from $266.80 million to $293.70 million. For the next financial year, analysts anticipate that the business will post sales of $337.68 million per share, with estimates ranging from $330.04 million to $349.30 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Comstock Resources.
Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Monday, May 8th. The oil and gas producer reported ($1.75) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.86) by $0.11. The company had revenue of $53.80 million during the quarter, compared to the consensus estimate of $57.96 million. During the same quarter in the previous year, the company posted ($1.14) earnings per share.
CRK has been the subject of a number of research reports. Zacks Investment Research raised Comstock Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Wednesday, March 1st. Seaport Global Securities reaffirmed a “buy” rating and set a $17.00 price objective on shares of Comstock Resources in a research report on Thursday, March 9th. Finally, Stifel Nicolaus began coverage on Comstock Resources in a research note on Thursday, March 23rd. They issued a “buy” rating and a $14.00 price objective on the stock. 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 a consensus target price of $12.50.
Shares of Comstock Resources (NYSE CRK) opened at 6.82 on Thursday. The company’s 50-day moving average is $7.56 and its 200-day moving average is $9.32. The company’s market cap is $104.84 million. Comstock Resources has a one year low of $2.64 and a one year high of $13.42.
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A number of hedge funds and other institutional investors have recently modified their holdings of CRK. Segantii Capital Management Ltd purchased a new position in Comstock Resources during the first quarter valued at approximately $148,000. GSA Capital Partners LLP purchased a new stake in shares of Comstock Resources during the fourth quarter worth approximately $170,000. SG Americas Securities LLC purchased a new stake in shares of Comstock Resources during the first quarter worth approximately $176,000. First Dallas Securities Inc. raised its stake in shares of Comstock Resources by 13.3% in the first quarter. First Dallas Securities Inc. now owns 32,367 shares of the oil and gas producer’s stock worth $299,000 after buying an additional 3,787 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Comstock Resources by 78.9% in the first quarter. Bank of New York Mellon Corp now owns 44,490 shares of the oil and gas producer’s stock worth $410,000 after buying an additional 19,627 shares during the last quarter. Institutional investors own 49.95% of the company’s stock.
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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