Analysts Expect Comstock Resources Inc (CRK) Will Announce Quarterly Sales of $70.18 Million
Brokerages forecast that Comstock Resources Inc (NYSE:CRK) will announce $70.18 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Comstock Resources’ earnings. The highest sales estimate is $71.15 million and the lowest is $69.20 million. Comstock Resources reported sales of $48.50 million during the same quarter last year, which indicates a positive year-over-year growth rate of 44.7%. The business is scheduled to issue its next earnings report on Friday, February 23rd.
On average, analysts expect that Comstock Resources will report full-year sales of $70.18 million for the current fiscal year, with estimates ranging from $251.30 million to $252.20 million. For the next financial year, analysts expect that the company will report sales of $318.88 million per share, with estimates ranging from $316.06 million to $321.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Comstock Resources.
Several equities research analysts have weighed in on CRK shares. KeyCorp restated a “hold” rating on shares of Comstock Resources in a research note on Friday, November 24th. Robert W. Baird set a $12.00 target price on Comstock Resources and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Barclays cut their target price on Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.40.
Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp lifted its stake in shares of 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 valued at $225,000 after acquiring an additional 1,055 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of 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 valued at $340,000 after acquiring an additional 3,345 shares during the last quarter. ACR Alpine Capital Research LLC bought a new position in shares of Comstock Resources in the 3rd quarter valued at $304,000. Bank of New York Mellon Corp lifted its stake in shares of 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 valued at $389,000 after acquiring an additional 10,480 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in shares of Comstock Resources in the 3rd quarter valued at $430,000. Institutional investors own 52.69% of the company’s stock.
Shares of Comstock Resources (NYSE CRK) traded down $0.35 during trading hours on Friday, reaching $9.00. The company had a trading volume of 269,145 shares, compared to its average volume of 360,167. The firm has a market capitalization of $138.85, a P/E ratio of -0.98 and a beta of -0.49. Comstock Resources has a 1-year low of $4.01 and a 1-year high of $13.42. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of -3.32.
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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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