KeyCorp Comments on Comstock Resources Inc.’s FY2016 Earnings (CRK)
Comstock Resources Inc. (NYSE:CRK) – Equities research analysts at KeyCorp cut their FY2016 earnings per share estimates for shares of Comstock Resources in a report released on Wednesday. KeyCorp analyst C. Stevens now anticipates that the brokerage will post earnings per share of ($14.27) for the year, down from their prior estimate of ($13.52). KeyCorp also issued estimates for Comstock Resources’ Q4 2016 earnings at ($2.24) EPS, Q1 2017 earnings at ($1.21) EPS, Q2 2017 earnings at ($1.33) EPS, Q3 2017 earnings at ($1.34) EPS, Q4 2017 earnings at ($1.31) EPS and FY2017 earnings at ($5.19) EPS.
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. Comstock Resources had a negative net margin of 210.50% and a negative return on equity of 202.37%. The firm earned $50.33 million during the quarter, compared to the consensus estimate of $44.98 million. During the same period in the prior year, the business earned ($5.30) EPS. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year.
Several other brokerages have also issued reports on CRK. Zacks Investment Research lowered Comstock Resources from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Robert W. Baird boosted their price objective on Comstock Resources from $6.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 15th. Imperial Capital boosted their price objective on Comstock Resources from $3.75 to $8.50 and gave the company an “in-line” rating in a research report on Friday, October 7th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Comstock Resources in a research report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.38.
Comstock Resources (NYSE:CRK) opened at 9.00 on Monday. The company’s market cap is $112.54 million. The stock has a 50 day moving average of $8.55 and a 200-day moving average of $5.69. Comstock Resources has a 52-week low of $2.64 and a 52-week high of $14.00.
A number of institutional investors have recently added to or reduced their stakes in CRK. California Public Employees Retirement System boosted its stake in shares of Comstock Resources by 10.4% in the second quarter. California Public Employees Retirement System now owns 1,641,256 shares of the company’s stock worth $1,379,000 after buying an additional 154,700 shares in the last quarter. Mariner Investment Group LLC bought a new stake in shares of Comstock Resources during the second quarter worth about $237,000. Schwab Charles Investment Management Inc. bought a new stake in shares of Comstock Resources during the second quarter worth about $229,000. Coastland Capital LLC bought a new stake in shares of Comstock Resources during the third quarter worth about $935,000. Finally, Wells Fargo & Company MN boosted its stake in shares of 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 in 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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