Research Analysts Set Expectations for Comstock Resources Inc.’s FY2016 Earnings (CRK)
Comstock Resources Inc. (NYSE:CRK) – Analysts at Capital One Financial Corp. issued their FY2016 earnings estimates for Comstock Resources in a research report issued to clients and investors on Tuesday. Capital One Financial Corp. analyst P. Johnston expects that the brokerage will post earnings per share of ($12.89) for the year. Capital One Financial Corp. also issued estimates for Comstock Resources’ Q4 2016 earnings at ($0.43) EPS and FY2017 earnings at ($4.72) EPS.
Several other equities research analysts also recently issued reports on the stock. Robert W. Baird raised their target price on shares of Comstock Resources from $6.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, September 15th. Stifel Nicolaus reiterated a “hold” rating on shares of Comstock Resources in a research note on Wednesday, August 31st. Zacks Investment Research downgraded shares of Comstock Resources from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Finally, Imperial Capital raised their price objective on shares of Comstock Resources from $3.75 to $8.50 and gave the stock an “in-line” rating in a research report on Friday, October 7th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $7.38.
Shares of Comstock Resources (NYSE:CRK) opened at 8.23 on Thursday. Comstock Resources has a 52-week low of $2.64 and a 52-week high of $14.00. The company’s 50-day moving average price is $8.55 and its 200-day moving average price is $5.69. The company’s market capitalization is $101.17 million.
Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, November 8th. The company reported ($3.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.45) by $0.82. The business had revenue of $50.33 million for the quarter, compared to the consensus estimate of $44.98 million. Comstock Resources had a negative return on equity of 202.37% and a negative net margin of 210.50%. The firm’s revenue was down 18.0% on a year-over-year basis. During the same quarter last year, the company earned ($5.30) earnings per share.
Several large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC increased its stake in Comstock Resources by 16.1% in the second quarter. Cubist Systematic Strategies LLC now owns 158,435 shares of the company’s stock worth $133,000 after buying an additional 21,992 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new stake in Comstock Resources during the second quarter worth $229,000. Mariner Investment Group LLC acquired a new stake in Comstock Resources during the second quarter worth $237,000. Spark Investment Management LLC acquired a new stake in Comstock Resources during the second quarter worth $313,000. Finally, Wells Fargo & Company MN increased its stake in Comstock Resources by 596.2% in the third quarter. Wells Fargo & Company MN now owns 60,578 shares of the company’s stock worth $463,000 after buying an additional 51,877 shares during the last quarter.
Comstock Resources Company Profile
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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