Analysts Issue Forecasts for Comstock Resources, Inc.’s FY2022 Earnings (NYSE:CRK)

Comstock Resources, Inc. (NYSE:CRKGet Rating) – Investment analysts at Truist Financial boosted their FY2022 earnings per share estimates for Comstock Resources in a research report issued to clients and investors on Monday, April 11th. Truist Financial analyst N. Dingmann now forecasts that the oil and gas producer will post earnings per share of $2.03 for the year, up from their prior forecast of $1.93.

Comstock Resources (NYSE:CRKGet Rating) last posted its earnings results on Tuesday, February 15th. The oil and gas producer reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The business had revenue of $655.38 million during the quarter, compared to the consensus estimate of $454.35 million. Comstock Resources had a negative net margin of 13.06% and a positive return on equity of 34.73%. During the same period in the previous year, the firm earned $0.14 EPS.

A number of other research firms have also recently weighed in on CRK. Zacks Investment Research raised shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, March 29th. Mizuho boosted their price target on shares of Comstock Resources from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Friday. Finally, StockNews.com began coverage on shares of Comstock Resources in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Comstock Resources has a consensus rating of “Buy” and an average price target of $14.67.

NYSE CRK opened at $15.02 on Tuesday. The company’s 50-day simple moving average is $9.74 and its 200 day simple moving average is $9.25. Comstock Resources has a twelve month low of $4.67 and a twelve month high of $15.21. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.50 and a quick ratio of 0.50.

A number of large investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP acquired a new position in shares of Comstock Resources during the third quarter worth approximately $25,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Comstock Resources during the fourth quarter worth approximately $27,000. Ellevest Inc. acquired a new position in shares of Comstock Resources during the fourth quarter worth approximately $31,000. Steward Financial Group LLC acquired a new position in shares of Comstock Resources during the fourth quarter worth approximately $39,000. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Comstock Resources during the fourth quarter worth approximately $82,000. Hedge funds and other institutional investors own 28.03% of the company’s stock.

About Comstock Resources (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.

Further Reading

Earnings History and Estimates for Comstock Resources (NYSE:CRK)

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