Analysts Anticipate Comstock Resources Inc (CRK) to Announce -$0.94 EPS

Wall Street brokerages expect Comstock Resources Inc (NYSE:CRK) to report earnings per share (EPS) of ($0.94) for the current quarter, according to Zacks. Two analysts have made estimates for Comstock Resources’ earnings, with estimates ranging from ($1.36) to ($0.62). Comstock Resources reported earnings of ($2.58) per share during the same quarter last year, which would suggest a positive year over year growth rate of 63.6%. The firm is scheduled to announce its next earnings results before the market opens on Monday, February 26th.

On average, analysts expect that Comstock Resources will report full year earnings of ($4.65) per share for the current fiscal year, with EPS estimates ranging from ($4.96) to ($4.24). For the next financial year, analysts expect that the firm will report earnings of ($3.24) per share, with EPS estimates ranging from ($5.05) to ($0.74). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Comstock Resources.

CRK has been the subject of several analyst reports. 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 shares of Comstock Resources and gave the company a “buy” rating in a research note on Friday, November 17th. Finally, Barclays decreased their target price on shares of 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, two have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $11.75.

Shares of Comstock Resources (NYSE:CRK) opened at $7.79 on Thursday. The company has a debt-to-equity ratio of -3.32, a quick ratio of 0.58 and a current ratio of 0.58. Comstock Resources has a 52 week low of $4.01 and a 52 week high of $12.37. The stock has a market cap of $130.52, a P/E ratio of -0.85 and a beta of -0.30.

In other news, CEO M Jay Allison bought 41,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was acquired at an average cost of $6.17 per share, for a total transaction of $252,970.00. Following the completion of the purchase, the chief executive officer now owns 520,130 shares of the company’s stock, valued at $3,209,202.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought 173,500 shares of company stock valued at $1,136,570 over the last 90 days. Insiders own 11.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in CRK. Bank of New York Mellon Corp boosted its stake in shares of Comstock Resources by 23.6% in the second 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 purchasing an additional 10,480 shares during the period. Northern Trust Corp raised its holdings in Comstock Resources by 3.4% in the second 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 in the last quarter. Vanguard Group Inc. raised its holdings in Comstock Resources by 40.4% in the second quarter. Vanguard Group Inc. now owns 628,355 shares of the oil and gas producer’s stock valued at $4,443,000 after acquiring an additional 180,935 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Comstock Resources by 22.7% in the third quarter. Russell Investments Group Ltd. now owns 59,041 shares of the oil and gas producer’s stock valued at $359,000 after acquiring an additional 10,936 shares in the last quarter. Finally, First Washington CORP raised its holdings in Comstock Resources by 227.8% in the third quarter. First Washington CORP now owns 368,562 shares of the oil and gas producer’s stock valued at $2,241,000 after acquiring an additional 256,122 shares in the last quarter. Institutional investors and hedge funds own 52.34% of the company’s stock.

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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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