Comstock Resources Inc (CRK) Expected to Announce Quarterly Sales of $97.00 Million

Wall Street brokerages predict that Comstock Resources Inc (NYSE:CRK) will post sales of $97.00 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Comstock Resources’ earnings, with estimates ranging from $91.10 million to $102.90 million. Comstock Resources reported sales of $66.81 million during the same quarter last year, which suggests a positive year over year growth rate of 45.2%. The company is expected to issue its next earnings report before the market opens on Thursday, November 1st.

On average, analysts expect that Comstock Resources will report full-year sales of $378.25 million for the current financial year, with estimates ranging from $362.50 million to $394.00 million. For the next financial year, analysts forecast that the firm will post sales of $623.10 million, with estimates ranging from $589.10 million to $657.10 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Comstock Resources.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported ($0.78) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.78). The business had revenue of $61.45 million for the quarter, compared to the consensus estimate of $62.35 million.

Separately, LADENBURG THALM/SH SH upgraded Comstock Resources from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Comstock Resources has a consensus rating of “Hold” and an average target price of $11.20.

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in Comstock Resources by 18.8% during the second quarter. Renaissance Technologies LLC now owns 778,500 shares of the oil and gas producer’s stock worth $8,182,000 after acquiring an additional 123,000 shares during the period. Acadian Asset Management LLC increased its position in Comstock Resources by 782.0% in the second quarter. Acadian Asset Management LLC now owns 107,624 shares of the oil and gas producer’s stock worth $1,131,000 after buying an additional 95,422 shares during the last quarter. Macquarie Group Ltd. increased its position in Comstock Resources by 161.7% in the second quarter. Macquarie Group Ltd. now owns 75,900 shares of the oil and gas producer’s stock worth $798,000 after buying an additional 46,900 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Comstock Resources in the second quarter worth $168,000. Finally, Millennium Management LLC purchased a new stake in Comstock Resources in the first quarter worth $2,130,000. Institutional investors and hedge funds own 38.44% of the company’s stock.

Shares of Comstock Resources stock opened at $7.25 on Thursday. Comstock Resources has a 12 month low of $4.49 and a 12 month high of $12.32.

Comstock Resources Company Profile

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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Earnings History and Estimates for Comstock Resources (NYSE:CRK)

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