Brokerages forecast that Comstock Resources Inc (NYSE:CRK) will post sales of $234.00 million for the current quarter, Zacks reports. Two analysts have provided estimates for Comstock Resources’ earnings, with the highest sales estimate coming in at $242.00 million and the lowest estimate coming in at $226.00 million. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 6th.
On average, analysts expect that Comstock Resources will report full year sales of $767.35 million for the current year, with estimates ranging from $760.50 million to $774.20 million. For the next financial year, analysts expect that the company will post sales of $1.14 billion, with estimates ranging from $1.08 billion to $1.20 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Comstock Resources.
Comstock Resources (NYSE:CRK) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.10). The business had revenue of $128.12 million for the quarter, compared to analysts’ expectations of $127.90 million. Comstock Resources had a return on equity of 12.24% and a net margin of 16.09%.
Shares of CRK stock traded down $0.11 during trading hours on Friday, reaching $6.76. 615,100 shares of the company’s stock were exchanged, compared to its average volume of 462,056. The company’s 50 day moving average is $7.69 and its two-hundred day moving average is $6.28. Comstock Resources has a 1 year low of $4.17 and a 1 year high of $10.70. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.66 and a current ratio of 0.66.
In related news, VP Russell W. Romoser sold 6,319 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $9.36, for a total value of $59,145.84. Following the completion of the transaction, the vice president now directly owns 58,489 shares of the company’s stock, valued at approximately $547,457.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in Comstock Resources by 233.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,781 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 4,750 shares in the last quarter. Jane Street Group LLC purchased a new position in Comstock Resources during the second quarter worth $71,000. Hilltop Holdings Inc. increased its position in Comstock Resources by 30.0% during the second quarter. Hilltop Holdings Inc. now owns 13,000 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 3,000 shares in the last quarter. Wiley BROS. Aintree Capital LLC purchased a new position in Comstock Resources during the second quarter worth $84,000. Finally, Pensionmark Financial Group LLC purchased a new position in Comstock Resources during the second quarter worth $112,000. 3.42% of the stock is owned by hedge funds and other institutional investors.
Comstock Resources Company Profile
Comstock Resources, Inc and its subsidiaries engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. The company is headquartered in Frisco, Texas.
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