Wall Street analysts expect Comstock Resources, Inc. (NYSE:CRK – Get Rating) to report revenue of $578.33 million for the current quarter, according to Zacks. Four analysts released earnings estimates for Comstock Resources. The highest sales estimate is $846.00 million and the lowest is $472.30 million. Comstock Resources reported sales of $343.69 million in the same quarter last year, indicating a positive year-over-year growth rate of 68.3%. The company is due to release its next quarterly earnings report on Monday, January 1.
Zacks says analysts expect Comstock Resources to report annual revenue of $2.26 billion for the current fiscal year, with estimates ranging from $1.48 billion to $3.49 billion. . For the next fiscal year, analysts expect the company to record sales of $2.53 billion, with estimates ranging from $1.76 billion to $3.12 billion. Zacks Investment Research’s sell calculations are an average average based on a survey of sell-side research analysts who provide coverage for Comstock Resources.
Comstock Resources (NYSE:CRK – Get Rating) last reported results on Tuesday, May 3. The oil and gas producer reported EPS of $0.51 for the quarter, reaching the consensus estimate of $0.51. The company posted revenue of $524.84 million for the quarter, versus a consensus estimate of $438.02 million. Comstock Resources posted a positive return on equity of 45.27% and a negative net margin of 10.76%. The company’s quarterly revenue increased by 54.1% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.25.
A number of analysts have weighed in on CRK shares. StockNews.com began covering Comstock Resources shares in a research report on Thursday, March 31. They set a “holding” rating for the company. Piper Sandler downgraded Comstock Resources shares from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $19.00 to $16.00 in a research note from the Wednesday May 18. Mizuho raised its price target on Comstock Resources shares from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday. Truist Financial raised its price target on Comstock Resources from $14.00 to $19.00 in a Thursday, April 21 research report. Finally, Zacks Investment Research upgraded Comstock Resources from a “hold” rating to a “buy” rating and set a target price of $14.00 on the stock in a Tuesday, March 29 research report. One analyst rated the stock with a sell rating, two issued a hold rating and three gave the company’s stock a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.00.
Comstock Resources stock opened at $20.46 on Friday. The stock’s 50-day moving average is $16.25 and its 200-day moving average is $11.19. Comstock Resources has a one-year low of $5.05 and a one-year high of $21.11. The company has a market capitalization of $4.77 billion, a P/E ratio of -16.24 and a beta of 1.11. The company has a debt ratio of 2.82, a current ratio of 0.29 and a quick ratio of 0.29.
Several institutional investors and hedge funds have recently changed their holdings in the company. First Trust Advisors LP increased its holdings in Comstock Resources by 30.1% in the first quarter. First Trust Advisors LP now owns 177,840 shares of the oil and gas producer worth $1,232,000 after acquiring 41,094 more shares last quarter. Bank of America Corp DE increased its holdings of Comstock Resources shares by 93.3% in the second quarter. Bank of America Corp DE now owns 88,961 shares of the oil and gas producer worth $594,000 after buying an additional 42,930 shares last quarter. Wells Fargo & Company MN increased its position in Comstock Resources by 36.9% in the second quarter. Wells Fargo & Company MN now owns 86,398 shares of the oil and gas producer valued at $576,000 after purchasing an additional 23,285 shares during the period. Morgan Stanley increased its stake in Comstock Resources by 83.1% during the second quarter. Morgan Stanley now owns 1,328,931 shares of the oil and gas producer valued at $8,864,000 after buying an additional 603,025 shares last quarter. Finally, Advisor Group Holdings Inc. increased its stake in Comstock Resources by 3,275.5% during the third quarter. Advisor Group Holdings Inc. now owns 11,713 shares of the oil and gas producer worth $122,000 after buying an additional 11,366 shares in the last quarter. Institutional investors hold 34.56% of the company’s shares.
About Comstock Resources (Get a rating)
Comstock Resources, Inc, an independent energy company, is engaged in the acquisition, exploration, development and production of oil and natural gas primarily in northern Louisiana and eastern Texas, United States . As of December 31, 2021, the company had 6.1 trillion cubic feet of natural gas equivalent of proven reserves.
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