Zacks: Brokerages Anticipate Comstock Resources, Inc. (NYSE:CRK) Will Announce Quarterly Sales of $602.83 Million

Wall Street analysts predict that Comstock Resources, Inc. (NYSE:CRKGet Rating) will announce sales of $602.83 million for the current quarter, according to Zacks. Four analysts have made estimates for Comstock Resources’ earnings, with the highest sales estimate coming in at $846.00 million and the lowest estimate coming in at $472.30 million. Comstock Resources posted sales of $343.69 million in the same quarter last year, which suggests a positive year over year growth rate of 75.4%. The company is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Comstock Resources will report full-year sales of $2.35 billion for the current financial year, with estimates ranging from $1.48 billion to $3.49 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.52 billion, with estimates ranging from $1.76 billion to $3.12 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Comstock Resources.

Comstock Resources (NYSE:CRKGet Rating) last issued its earnings results on Tuesday, May 3rd. The oil and gas producer reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $524.84 million for the quarter, compared to analyst estimates of $438.02 million. Comstock Resources had a negative net margin of 10.76% and a positive return on equity of 45.27%. The company’s quarterly revenue was up 54.1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 earnings per share.

A number of equities analysts recently weighed in on CRK shares. Zacks Investment Research raised shares of Comstock Resources from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, March 29th. Piper Sandler lifted their price objective on shares of Comstock Resources from $7.50 to $19.00 and gave the company a “neutral” rating in a report on Thursday, April 21st. Mizuho boosted their price target on shares of Comstock Resources from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, April 8th. Truist Financial boosted their price target on shares of Comstock Resources from $14.00 to $19.00 in a report on Thursday, April 21st. Finally, StockNews.com assumed coverage on shares of Comstock Resources in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $18.00.

Institutional investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new stake in shares of Comstock Resources during the 3rd quarter valued at approximately $25,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Comstock Resources during the 4th quarter valued at approximately $27,000. First Quadrant LLC CA purchased a new stake in shares of Comstock Resources during the 1st quarter valued at approximately $28,000. Ellevest Inc. purchased a new stake in Comstock Resources in the 4th quarter worth approximately $31,000. Finally, Steward Financial Group LLC purchased a new stake in Comstock Resources in the 4th quarter worth approximately $39,000. 34.56% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:CRK opened at $14.37 on Friday. Comstock Resources has a 52 week low of $5.05 and a 52 week high of $19.17. The firm’s fifty day moving average is $13.73 and its 200-day moving average is $10.32. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 2.82.

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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