Wall Street analysts forecast that Comstock Resources, Inc. (NYSE:CRK) will post ($1.22) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Comstock Resources’ earnings. The lowest EPS estimate is ($1.59) and the highest is ($0.87). Comstock Resources reported earnings of ($2.58) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 52.7%. The business is scheduled to report its next quarterly earnings report on Friday, February 23rd.
On average, analysts expect that Comstock Resources will report full-year earnings of ($4.59) per share for the current fiscal year, with EPS estimates ranging from ($4.77) to ($4.47). For the next fiscal year, analysts anticipate that the firm will post earnings of ($3.67) per share, with EPS estimates ranging from ($5.88) to ($1.00). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Comstock Resources.
Several equities analysts have weighed in on CRK shares. Capital One Financial reissued an “underweight” rating on shares of Comstock Resources in a research note on Monday, August 7th. Stifel Nicolaus set a $12.00 target price on Comstock Resources and gave the company a “buy” rating in a research note on Monday, August 14th. ValuEngine lowered Comstock Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Barclays cut their target price on Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Finally, KeyCorp reissued a “hold” rating on shares of Comstock Resources in a research note on Monday, October 16th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Comstock Resources presently has a consensus rating of “Hold” and an average price target of $11.40.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of Comstock Resources by 3.4% during the second quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock worth $225,000 after purchasing an additional 1,055 shares during the period. Bank of New York Mellon Corp raised its position in shares of Comstock Resources by 78.9% during 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 purchasing an additional 19,627 shares during the period. Russell Investments Group Ltd. raised its position in shares of Comstock Resources by 7.5% during the second quarter. Russell Investments Group Ltd. now owns 48,105 shares of the oil and gas producer’s stock worth $340,000 after purchasing an additional 3,345 shares during the period. ACR Alpine Capital Research LLC acquired a new stake in shares of Comstock Resources during the third quarter worth about $304,000. Finally, Macquarie Group Ltd. acquired a new stake in shares of Comstock Resources during the third quarter worth about $430,000. 52.69% of the stock is currently owned by institutional investors.
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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