Wall Street analysts predict that Comstock Resources Inc (NYSE:CRK) will post sales of $93.45 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Comstock Resources’ earnings, with the highest sales estimate coming in at $97.40 million and the lowest estimate coming in at $89.50 million. Comstock Resources posted sales of $66.81 million during the same quarter last year, which suggests a positive year over year growth rate of 39.9%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Comstock Resources will report full year sales of $365.65 million for the current year, with estimates ranging from $360.90 million to $370.40 million. For the next year, analysts expect that the firm will post sales of $620.35 million, with estimates ranging from $604.80 million to $635.90 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Comstock Resources.
Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported ($0.78) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.78). The company had revenue of $61.45 million for the quarter, compared to analysts’ expectations of $62.35 million.
Separately, LADENBURG THALM/SH SH raised shares of Comstock Resources from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $11.20.
Shares of NYSE:CRK traded up $0.06 during mid-day trading on Monday, reaching $8.45. 427,226 shares of the company were exchanged, compared to its average volume of 645,396. The company has a debt-to-equity ratio of -2.61, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $136.41 million, a P/E ratio of -2.17 and a beta of -0.16. Comstock Resources has a 1 year low of $4.01 and a 1 year high of $12.32.
Several large investors have recently bought and sold shares of the stock. Zacks Investment Management purchased a new position in shares of Comstock Resources during the 2nd quarter worth approximately $144,000. Macquarie Group Ltd. boosted its position in shares of Comstock Resources by 161.7% during the 2nd quarter. Macquarie Group Ltd. now owns 75,900 shares of the oil and gas producer’s stock worth $798,000 after purchasing an additional 46,900 shares during the period. Renaissance Technologies LLC boosted its position in shares of Comstock Resources by 18.8% during the 2nd quarter. Renaissance Technologies LLC now owns 778,500 shares of the oil and gas producer’s stock worth $8,182,000 after purchasing an additional 123,000 shares during the period. GSA Capital Partners LLP acquired a new stake in Comstock Resources during the 2nd quarter worth approximately $184,000. Finally, Spark Investment Management LLC lifted its holdings in Comstock Resources by 402.3% during the 2nd quarter. Spark Investment Management LLC now owns 280,800 shares of the oil and gas producer’s stock worth $2,951,000 after buying an additional 224,900 shares in the last quarter. 38.28% of the stock is owned by hedge funds and other institutional investors.
About Comstock Resources
Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and gas resources primarily in Texas and Louisiana. The company is headquartered in Frisco, Texas.
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