Brokerages Expect Comstock Resources, Inc. (NYSE:CRK) to Post $0.50 EPS

Wall Street analysts predict that Comstock Resources, Inc. (NYSE:CRKGet Rating) will announce earnings per share of $0.50 for the current quarter, Zacks reports. Four analysts have provided estimates for Comstock Resources’ earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.44. Comstock Resources posted earnings of $0.25 per share during the same quarter last year, which would indicate a positive year over year growth rate of 100%. The company is expected to announce its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Comstock Resources will report full year earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $2.03 to $3.37. For the next financial year, analysts forecast that the firm will report earnings of $2.68 per share, with EPS estimates ranging from $2.02 to $3.88. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Comstock Resources.

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

A number of equities research analysts have recently commented on the company. Truist Financial lowered their target price on Comstock Resources from $11.00 to $10.00 in a research note on Friday, January 14th. Zacks Investment Research raised shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, March 29th. StockNews.com began coverage on Comstock Resources in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Mizuho upped their price objective on shares of Comstock Resources from $13.00 to $20.00 and gave the company a “buy” rating in a report on Friday, April 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.67.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its position in Comstock Resources by 30.1% during the first quarter. First Trust Advisors LP now owns 177,840 shares of the oil and gas producer’s stock valued at $1,232,000 after acquiring an additional 41,094 shares during the last quarter. Bank of America Corp DE boosted its position in Comstock Resources by 93.3% during the second quarter. Bank of America Corp DE now owns 88,961 shares of the oil and gas producer’s stock valued at $594,000 after buying an additional 42,930 shares during the period. Wells Fargo & Company MN grew its stake in shares of Comstock Resources by 36.9% during the second quarter. Wells Fargo & Company MN now owns 86,398 shares of the oil and gas producer’s stock valued at $576,000 after buying an additional 23,285 shares during the last quarter. Morgan Stanley lifted its stake in shares of Comstock Resources by 83.1% in the 2nd quarter. Morgan Stanley now owns 1,328,931 shares of the oil and gas producer’s stock valued at $8,864,000 after acquiring an additional 603,025 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP bought a new position in Comstock Resources during the 3rd quarter worth approximately $8,074,000. Institutional investors and hedge funds own 28.03% of the company’s stock.

CRK traded up $0.40 during midday trading on Wednesday, reaching $17.68. 3,260,938 shares of the company were exchanged, compared to its average volume of 3,942,756. The company’s fifty day moving average price is $10.93 and its 200 day moving average price is $9.57. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.50 and a current ratio of 0.50. Comstock Resources has a one year low of $4.67 and a one year high of $18.55. The company has a market cap of $4.12 billion, a price-to-earnings ratio of -13.00 and a beta of 1.43.

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

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