Wall Street brokerages forecast that Comstock Resources Inc (NYSE:CRK) will post sales of $129.25 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Comstock Resources’ earnings. The lowest sales estimate is $126.70 million and the highest is $131.80 million. Comstock Resources reported sales of $61.45 million during the same quarter last year, which indicates a positive year-over-year growth rate of 110.3%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 14th.
On average, analysts expect that Comstock Resources will report full year sales of $848.00 million for the current financial year. For the next financial year, analysts expect that the company will post sales of $1.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Comstock Resources.
Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Thursday, May 9th. The oil and gas producer reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.05). The business had revenue of $126.88 million during the quarter, compared to analyst estimates of $130.70 million. Comstock Resources had a return on equity of 14.66% and a net margin of 6.04%.
Shares of CRK traded down $0.21 during mid-day trading on Friday, hitting $5.61. The company’s stock had a trading volume of 746,416 shares, compared to its average volume of 345,447. The company has a 50-day moving average of $5.20. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.68 and a quick ratio of 0.68. Comstock Resources has a fifty-two week low of $4.17 and a fifty-two week high of $11.90.
In other news, major shareholder Star Exploration Corp Blue bought 50,000,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were acquired at an average cost of $6.00 per share, with a total value of $300,000,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CRK. First Trust Advisors LP bought a new position in Comstock Resources in the fourth quarter worth approximately $619,000. Bank of New York Mellon Corp bought a new stake in Comstock Resources during the 4th quarter valued at $6,349,000. Citigroup Inc. bought a new stake in Comstock Resources during the 4th quarter valued at $61,000. Dimensional Fund Advisors LP bought a new stake in Comstock Resources during the 4th quarter valued at $181,000. Finally, Barclays PLC boosted its position in Comstock Resources by 775.8% during the 4th quarter. Barclays PLC now owns 370,507 shares of the oil and gas producer’s stock valued at $1,679,000 after acquiring an additional 328,202 shares in the last quarter. 6.87% of the stock is currently owned by institutional investors and hedge funds.
About Comstock Resources
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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