Analysts predict that Comstock Resources, Inc. (NYSE:CRK) will post $312.05 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Comstock Resources’ earnings, with estimates ranging from $293.20 million to $339.00 million. Comstock Resources posted sales of $179.54 million in the same quarter last year, which suggests a positive year over year growth rate of 73.8%. The firm is expected to report its next quarterly earnings report on Wednesday, August 4th.
On average, analysts expect that Comstock Resources will report full year sales of $1.33 billion for the current financial year, with estimates ranging from $1.25 billion to $1.46 billion. For the next financial year, analysts anticipate that the business will report sales of $1.36 billion, with estimates ranging from $1.24 billion to $1.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Comstock Resources.
Comstock Resources (NYSE:CRK) last announced its quarterly earnings results on Tuesday, May 4th. The oil and gas producer reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.12. Comstock Resources had a negative net margin of 23.50% and a positive return on equity of 8.07%. The company had revenue of $340.49 million for the quarter, compared to analyst estimates of $294.50 million.
Shares of NYSE CRK traded up $0.36 during midday trading on Tuesday, reaching $6.59. The stock had a trading volume of 175,038 shares, compared to its average volume of 2,803,635. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -5.66 and a beta of 1.60. Comstock Resources has a twelve month low of $4.08 and a twelve month high of $6.84. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50 day simple moving average of $5.55.
Institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Comstock Resources by 50.4% in the fourth quarter. Barclays PLC now owns 31,634 shares of the oil and gas producer’s stock worth $138,000 after buying an additional 10,601 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Comstock Resources by 135.1% in the fourth quarter. First Trust Advisors LP now owns 334,596 shares of the oil and gas producer’s stock worth $1,462,000 after buying an additional 192,250 shares in the last quarter. UBS Oconnor LLC raised its stake in Comstock Resources by 75.6% in the fourth quarter. UBS Oconnor LLC now owns 263,446 shares of the oil and gas producer’s stock valued at $1,151,000 after purchasing an additional 113,446 shares in the last quarter. Victory Capital Management Inc. raised its stake in Comstock Resources by 17,690.0% in the fourth quarter. Victory Capital Management Inc. now owns 2,104,729 shares of the oil and gas producer’s stock valued at $9,197,000 after purchasing an additional 2,092,898 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in Comstock Resources in the fourth quarter valued at approximately $78,000. 19.53% of the stock is currently owned by hedge funds and other institutional investors.
About Comstock Resources
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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