Wall Street brokerages predict that Comstock Resources Inc (NYSE:CRK) will announce ($1.82) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Comstock Resources’ earnings, with estimates ranging from ($2.68) to ($0.83). Comstock Resources reported earnings of ($5.15) per share in the same quarter last year, which indicates a positive year over year growth rate of 64.7%. The company is scheduled to report its next quarterly earnings report before the market opens on Monday, May 8th.
According to Zacks, analysts expect that Comstock Resources will report full year earnings of ($3.60) per share for the current year, with EPS estimates ranging from ($5.92) to ($1.60). For the next year, analysts expect that the company will report earnings of ($3.88) per share, with EPS estimates ranging from ($11.16) to ($0.63). Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Comstock Resources.
Comstock Resources (NYSE:CRK) last posted its earnings results on Friday, February 24th. The oil and gas producer reported ($2.58) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.57) by $0.01. The company had revenue of $48.50 million for the quarter, compared to analyst estimates of $48.40 million. During the same quarter last year, the firm earned ($0.91) EPS.
A number of brokerages have weighed in on CRK. Zacks Investment Research downgraded shares of Comstock Resources from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. Barclays PLC reissued a “hold” rating and issued a $10.00 price target on shares of Comstock Resources in a report on Wednesday, February 1st. BMO Capital Markets reissued a “hold” rating and issued a $10.00 price target on shares of Comstock Resources in a report on Wednesday, January 11th. Robert W. Baird raised shares of Comstock Resources from a “neutral” rating to an “outperform” rating and increased their price target for the company from $9.00 to $17.00 in a report on Friday, January 27th. Finally, Stifel Nicolaus began coverage on shares of Comstock Resources in a report on Thursday, March 23rd. They issued a “buy” rating and a $14.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $12.50.
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Comstock Resources (NYSE:CRK) traded down 2.51% during trading on Monday, hitting $8.93. 353,135 shares of the company traded hands. Comstock Resources has a one year low of $2.64 and a one year high of $13.42. The firm’s market cap is $135.69 million. The firm has a 50 day moving average of $8.96 and a 200 day moving average of $9.65.
Several institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in Comstock Resources during the fourth quarter worth approximately $1,284,000. Coastland Capital LLC acquired a new position in Comstock Resources during the third quarter worth approximately $935,000. Marshall Wace LLP acquired a new position in Comstock Resources during the fourth quarter worth approximately $1,106,000. GeoSphere Capital Management acquired a new position in Comstock Resources during the fourth quarter worth approximately $739,000. Finally, Wells Fargo & Company MN increased its position in Comstock Resources by 596.2% in the third quarter. Wells Fargo & Company MN now owns 60,578 shares of the oil and gas producer’s stock worth $463,000 after buying an additional 51,877 shares during the last quarter. 41.02% of the stock is 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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