Comstock Resources Inc. (CRK) to Post Q1 2018 Earnings of ($1.63) Per Share, Imperial Capital Forecasts
Comstock Resources Inc. (NYSE:CRK) – Equities research analysts at Imperial Capital issued their Q1 2018 earnings per share estimates for shares of Comstock Resources in a research report issued on Friday. Imperial Capital analyst K. Pacanovsky anticipates that the brokerage will post earnings per share of ($1.63) for the quarter. Imperial Capital has a “In-Line” rating and a $8.50 price objective on the stock. Imperial Capital also issued estimates for Comstock Resources’ Q2 2018 earnings at ($1.85) EPS and Q3 2018 earnings at ($1.89) EPS.
CRK has been the subject of a number of other reports. Zacks Investment Research downgraded Comstock Resources from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Stifel Nicolaus restated a “hold” rating on shares of Comstock Resources in a report on Wednesday, August 31st. Finally, Robert W. Baird increased their price objective on Comstock Resources from $6.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Comstock Resources presently has a consensus rating of “Hold” and a consensus price target of $10.54.
Comstock Resources (NYSE:CRK) traded down 5.52% during midday trading on Monday, hitting $8.04. The stock had a trading volume of 725,460 shares. Comstock Resources has a 1-year low of $2.64 and a 1-year high of $15.00. The company has a 50-day moving average of $7.25 and a 200-day moving average of $4.86. The stock’s market cap is $100.53 million.
Comstock Resources (NYSE:CRK) last released its earnings results on Monday, August 1st. The company reported ($4.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by $3.39. The firm earned $40.72 million during the quarter, compared to analyst estimates of $39.16 million. Comstock Resources had a negative net margin of 475.42% and a negative return on equity of 202.37%. The firm’s quarterly revenue was down 47.3% on a year-over-year basis. During the same period last year, the business posted ($1.11) earnings per share.
Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in shares of Comstock Resources during the first quarter valued at approximately $121,000. Cubist Systematic Strategies LLC increased its stake in shares of Comstock Resources by 16.1% in the second quarter. Cubist Systematic Strategies LLC now owns 158,435 shares of the company’s stock valued at $133,000 after buying an additional 21,992 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in shares of Comstock Resources during the second quarter valued at approximately $229,000. Mariner Investment Group LLC purchased a new stake in shares of Comstock Resources during the second quarter valued at approximately $237,000. Finally, Spark Investment Management LLC purchased a new stake in shares of Comstock Resources during the second quarter valued at approximately $313,000.
About Comstock Resources
Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.
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