Analysts expect Comstock Resources Inc (NYSE:CRK) to post $111.70 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Comstock Resources’ earnings. The highest sales estimate is $127.90 million and the lowest is $95.50 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 67.2%. The company is scheduled to report its next earnings results on Thursday, November 1st.

On average, analysts expect that Comstock Resources will report full year sales of $375.85 million for the current financial year, with estimates ranging from $356.50 million to $395.20 million. For the next fiscal year, analysts anticipate that the business will post sales of $583.60 million per share, with estimates ranging from $582.10 million to $585.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Comstock Resources.

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

Several analysts have recently weighed in on the stock. LADENBURG THALM/SH SH upgraded 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 note on Thursday, August 9th. ValuEngine upgraded shares of Comstock Resources from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 17th. Zacks Investment Research upgraded shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, June 12th. Stifel Nicolaus assumed coverage on shares of Comstock Resources in a research note on Tuesday, May 22nd. They issued a “hold” rating and a $9.80 price objective for the company. Finally, Capital One Financial upgraded shares of Comstock Resources from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.16.

Shares of NYSE CRK opened at $8.70 on Friday. The company has a market capitalization of $142.11 million, a PE ratio of -2.23 and a beta of -0.04. Comstock Resources has a 52-week low of $4.01 and a 52-week high of $12.32. The company has a debt-to-equity ratio of -2.61, a quick ratio of 1.07 and a current ratio of 1.07.

Several large investors have recently added to or reduced their stakes in CRK. Millennium Management LLC bought a new stake in shares of Comstock Resources in the 1st quarter valued at $2,130,000. Spark Investment Management LLC increased its stake 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 valued at $2,951,000 after purchasing an additional 224,900 shares in the last quarter. Hodges Capital Management Inc. increased its stake in Comstock Resources by 15.1% during the 1st quarter. Hodges Capital Management Inc. now owns 1,392,159 shares of the oil and gas producer’s stock valued at $10,177,000 after purchasing an additional 182,459 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Comstock Resources during the 4th quarter valued at $1,228,000. Finally, Acadian Asset Management LLC increased its stake in Comstock Resources by 782.0% during the 2nd quarter. Acadian Asset Management LLC now owns 107,624 shares of the oil and gas producer’s stock valued at $1,131,000 after purchasing an additional 95,422 shares in the last quarter. Institutional investors own 42.42% of the company’s stock.

Comstock Resources Company Profile

Comstock Resources, Inc, an independent energy company, acquires, develops, explores, and produces oil and natural gas properties in the United States. Its oil and gas operations are primarily located in East Texas/North Louisiana and South Texas; and New Mexico and the Mid-Continent region. The company owns interests in 1,309 producing oil and natural gas wells.

See Also: Earnings Per Share (EPS) Explained

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

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