Brokerages forecast that Comstock Resources, Inc. (NYSE:CRK) will announce $314.30 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Comstock Resources’ earnings, with estimates ranging from $293.20 million to $344.00 million. Comstock Resources posted sales of $179.54 million in the same quarter last year, which would indicate a positive year over year growth rate of 75.1%. The business is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, August 3rd.
On average, analysts expect that Comstock Resources will report full-year sales of $1.38 billion for the current fiscal year, with estimates ranging from $1.25 billion to $1.63 billion. For the next financial year, analysts forecast that the firm will post sales of $1.40 billion, with estimates ranging from $1.24 billion to $1.67 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Comstock Resources.
Comstock Resources (NYSE:CRK) last posted its earnings results on Tuesday, May 4th. The oil and gas producer reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.12. The firm had revenue of $340.49 million for the quarter, compared to the consensus estimate of $294.50 million. Comstock Resources had a positive return on equity of 8.07% and a negative net margin of 23.50%.
Shares of NYSE:CRK traded down $0.16 during trading on Monday, hitting $5.80. 27,382 shares of the company were exchanged, compared to its average volume of 3,116,813. The firm has a market cap of $1.35 billion, a P/E ratio of -5.14 and a beta of 1.64. The firm’s 50 day moving average is $6.15. Comstock Resources has a 52-week low of $4.24 and a 52-week high of $6.95. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.
Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of Comstock Resources by 14.5% in the first quarter. CWM LLC now owns 16,462 shares of the oil and gas producer’s stock worth $91,000 after purchasing an additional 2,083 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Comstock Resources by 3.9% in the fourth quarter. Alliancebernstein L.P. now owns 106,600 shares of the oil and gas producer’s stock worth $466,000 after purchasing an additional 4,000 shares during the period. Royal Bank of Canada increased its holdings in shares of Comstock Resources by 24.8% in the first quarter. Royal Bank of Canada now owns 20,100 shares of the oil and gas producer’s stock worth $111,000 after purchasing an additional 4,000 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Comstock Resources by 5.3% in the first quarter. Nuveen Asset Management LLC now owns 93,478 shares of the oil and gas producer’s stock worth $518,000 after purchasing an additional 4,674 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Comstock Resources in the first quarter worth $31,000. 19.53% of the stock is currently owned by hedge funds and other institutional investors.
Comstock Resources Company Profile
Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration for, development, and production of oil and natural gas primarily in Texas, Louisiana, and North Dakota. As of December 31, 2020, the company had 5.6 trillion cubic feet of natural gas equivalent and 17 million barrels of oil equivalent of proved reserves.
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