$143.05 Million in Sales Expected for Comstock Resources Inc (CRK) This Quarter

Brokerages forecast that Comstock Resources Inc (NYSE:CRK) will report $143.05 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Comstock Resources’ earnings, with the highest sales estimate coming in at $146.90 million and the lowest estimate coming in at $139.20 million. Comstock Resources reported sales of $73.25 million during the same quarter last year, which indicates a positive year-over-year growth rate of 95.3%. The firm is scheduled to issue its next quarterly earnings report on Monday, February 25th.

According to Zacks, analysts expect that Comstock Resources will report full year sales of $379.85 million for the current fiscal year, with estimates ranging from $376.00 million to $383.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $572.40 million, with estimates ranging from $555.80 million to $589.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Comstock Resources.

Shares of Comstock Resources stock traded down $0.13 on Wednesday, hitting $6.50. 303,315 shares of the company’s stock were exchanged, compared to its average volume of 431,163. The stock has a market capitalization of $695.57 million, a PE ratio of -1.67 and a beta of 0.69. Comstock Resources has a 1 year low of $4.21 and a 1 year high of $12.32. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.73 and a quick ratio of 0.73.

Several institutional investors have recently modified their holdings of the company. First Dallas Securities Inc. boosted its stake in shares of Comstock Resources by 17.6% during the 3rd quarter. First Dallas Securities Inc. now owns 47,056 shares of the oil and gas producer’s stock worth $395,000 after acquiring an additional 7,050 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Comstock Resources during the 2nd quarter worth $144,000. Penn Capital Management Co. Inc. purchased a new position in shares of Comstock Resources during the 3rd quarter worth $128,000. GSA Capital Partners LLP bought a new stake in shares of Comstock Resources during the 2nd quarter valued at $184,000. Finally, HRT Financial LLC bought a new stake in shares of Comstock Resources during the 3rd quarter valued at $220,000. Institutional investors and hedge funds own 5.97% of the company’s stock.

Comstock Resources Company Profile

Comstock Resources, Inc engages in the acquisition, development, and exploration of oil and natural gas. It focuses primarily on properties located in Texas and Louisiana. The company was founded in 1919 and is headquartered in Frisco, TX.

Featured Article: How Do I Invest in Dividend Stocks

Get a free copy of the Zacks research report on Comstock Resources (CRK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Comstock Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comstock Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply