Analysts expect that Comstock Resources Inc (NYSE:CRK) will announce sales of $71.92 million for the current quarter, Zacks reports. Two analysts have provided estimates for Comstock Resources’ earnings, with estimates ranging from $71.80 million to $72.03 million. Comstock Resources reported sales of $48.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 48.3%. The company is scheduled to report its next earnings report before the market opens on Monday, February 26th.
According to Zacks, analysts expect that Comstock Resources will report full-year sales of $71.92 million for the current fiscal year, with estimates ranging from $253.08 million to $253.90 million. For the next year, analysts anticipate that the firm will post sales of $318.25 million per share, with estimates ranging from $314.80 million to $321.70 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Comstock Resources.
A number of brokerages have recently weighed in on CRK. KeyCorp reaffirmed a “hold” rating on shares of Comstock Resources in a research note on Friday, November 24th. Robert W. Baird set a $12.00 price objective on Comstock Resources and gave the company a “buy” rating in a research note on Friday, November 17th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.75.
Shares of Comstock Resources (NYSE CRK) traded up $0.11 during midday trading on Friday, hitting $7.05. The stock had a trading volume of 497,272 shares, compared to its average volume of 500,290. Comstock Resources has a twelve month low of $4.01 and a twelve month high of $11.24. The company has a debt-to-equity ratio of -3.32, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $105.06, a PE ratio of -0.77 and a beta of -0.30.
In related news, CEO M Jay Allison bought 12,500 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was purchased at an average cost of $8.00 per share, with a total value of $100,000.00. Following the purchase, the chief executive officer now directly owns 611,630 shares of the company’s stock, valued at approximately $4,893,040. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 173,500 shares of company stock valued at $1,136,570 over the last three months. 11.60% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PEAK6 Investments L.P. acquired a new position in Comstock Resources during the 4th quarter worth $104,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Comstock Resources during the 4th quarter worth about $228,000. Northern Trust Corp lifted its holdings in Comstock Resources by 3.4% during the 2nd quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock worth $225,000 after buying an additional 1,055 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in Comstock Resources during the 4th quarter worth about $307,000. Finally, Citadel Advisors LLC lifted its holdings in Comstock Resources by 339.3% during the 4th quarter. Citadel Advisors LLC now owns 44,516 shares of the oil and gas producer’s stock worth $377,000 after buying an additional 34,383 shares during the last quarter. 52.38% of the stock is owned by hedge funds and other institutional investors.
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About Comstock Resources
Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.
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