$578.33 Million in Sales Expected for Comstock Resources, Inc. (NYSE:CRK) This Quarter

Posted by on Jun 3rd, 2022

Equities research analysts expect Comstock Resources, Inc. (NYSE:CRK – Get Rating) to post sales of $578.33 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Comstock Resources’ earnings, with the lowest sales estimate coming in at $472.30 million and the highest estimate coming in at $846.00 million. Comstock Resources reported sales of $343.69 million in the same quarter last year, which indicates a positive year over year growth rate of 68.3%. The business is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Comstock Resources will report full-year sales of $2.26 billion for the current financial year, with estimates ranging from $1.48 billion to $3.49 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.53 billion, with estimates ranging from $1.76 billion to $3.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Comstock Resources.

Comstock Resources (NYSE:CRK – Get Rating) last issued its earnings results on Tuesday, May 3rd. The oil and gas producer reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $524.84 million for the quarter, compared to the consensus estimate of $438.02 million. Comstock Resources had a negative net margin of 10.76% and a positive return on equity of 45.27%. The firm’s revenue for the quarter was up 54.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS.

Several brokerages recently issued reports on CRK. Mizuho boosted their price objective on Comstock Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, March 29th. StockNews.com initiated coverage on shares of Comstock Resources in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Piper Sandler cut shares of Comstock Resources from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $19.00 to $16.00 in a report on Wednesday, May 18th. Finally, Truist Financial increased their target price on shares of Comstock Resources from $14.00 to $19.00 in a research report on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Comstock Resources presently has an average rating of “Hold” and an average price target of $18.00.

Comstock Resources stock opened at $20.46 on Friday. The firm has a market capitalization of $4.77 billion, a P/E ratio of -16.24 and a beta of 1.11. Comstock Resources has a 1 year low of $5.05 and a 1 year high of $21.11. The business has a 50-day moving average of $16.25 and a 200-day moving average of $11.19. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 2.82.

Several large investors have recently bought and sold shares of CRK. Counterpoint Mutual Funds LLC increased its stake in Comstock Resources by 53.5% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 5,184 shares of the oil and gas producer’s stock worth $68,000 after acquiring an additional 1,807 shares during the last quarter. Bank of Montreal Can lifted its position in Comstock Resources by 14.8% in the first quarter. Bank of Montreal Can now owns 15,258 shares of the oil and gas producer’s stock valued at $201,000 after purchasing an additional 1,965 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Comstock Resources by 1.7% during the fourth quarter. California State Teachers Retirement System now owns 118,266 shares of the oil and gas producer’s stock valued at $957,000 after acquiring an additional 1,995 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Comstock Resources by 11.7% during the third quarter. LPL Financial LLC now owns 19,229 shares of the oil and gas producer’s stock valued at $199,000 after acquiring an additional 2,007 shares in the last quarter. Finally, CWM LLC raised its holdings in Comstock Resources by 15.4% in the first quarter. CWM LLC now owns 15,780 shares of the oil and gas producer’s stock worth $206,000 after purchasing an additional 2,106 shares in the last quarter. Hedge funds and other institutional investors own 34.56% of the company’s stock.

Comstock Resources Company Profile (Get Rating)

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves.

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