Equities analysts predict that Comstock Resources, Inc. (NYSE:CRK) will announce earnings of ($1.67) per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Comstock Resources’ earnings, with the highest EPS estimate coming in at ($0.68) and the lowest estimate coming in at ($2.14). Comstock Resources posted earnings per share of ($4.05) in the same quarter last year, which indicates a positive year over year growth rate of 58.8%. The company is scheduled to announce its next quarterly earnings results on Monday, August 7th.
On average, analysts expect that Comstock Resources will report full-year earnings of ($4.55) per share for the current fiscal year, with EPS estimates ranging from ($6.58) to ($3.09). For the next fiscal year, analysts forecast that the company will post earnings of ($3.81) per share, with EPS estimates ranging from ($9.90) to ($0.90). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Comstock Resources.
Comstock Resources (NYSE:CRK) last released its earnings results on Monday, May 8th. The oil and gas producer reported ($1.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.86) by $0.11. The business had revenue of $53.80 million during the quarter, compared to analysts’ expectations of $57.96 million. During the same quarter in the previous year, the business earned ($1.14) EPS.
Several equities research analysts recently issued reports on CRK shares. Seaport Global Securities reiterated a “buy” rating and issued a $17.00 price objective on shares of Comstock Resources in a report on Thursday, March 9th. Zacks Investment Research downgraded Comstock Resources from a “buy” rating to a “hold” rating in a report on Wednesday, March 22nd. Finally, Stifel Nicolaus started coverage on Comstock Resources in a report on Thursday, March 23rd. They issued a “buy” rating and a $14.00 price objective on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $12.50.
Several large investors have recently bought and sold shares of CRK. Russell Investments Group Ltd. purchased a new stake in Comstock Resources during the fourth quarter valued at about $1,284,000. Marshall Wace LLP purchased a new stake in Comstock Resources during the fourth quarter valued at about $1,106,000. GSA Capital Partners LLP purchased a new stake in Comstock Resources during the fourth quarter valued at about $170,000. Bank of New York Mellon Corp increased its stake in Comstock Resources by 78.9% in the first quarter. Bank of New York Mellon Corp now owns 44,490 shares of the oil and gas producer’s stock valued at $410,000 after buying an additional 19,627 shares in the last quarter. Finally, First Dallas Securities Inc. increased its stake in Comstock Resources by 13.3% in the first quarter. First Dallas Securities Inc. now owns 32,367 shares of the oil and gas producer’s stock valued at $299,000 after buying an additional 3,787 shares in the last quarter. Hedge funds and other institutional investors own 49.95% of the company’s stock.
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Comstock Resources (NYSE CRK) traded up 0.71% during mid-day trading on Tuesday, reaching $7.12. The company’s stock had a trading volume of 73,198 shares. Comstock Resources has a 12-month low of $2.64 and a 12-month high of $13.42. The stock’s market cap is $109.45 million. The firm’s 50 day moving average price is $7.30 and its 200 day moving average price is $9.14.
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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