Comstock Resources Inc. (CRK) Forecasted to Post Q1 2018 Earnings of ($0.09) Per Share
Comstock Resources Inc. (NYSE:CRK) – KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for Comstock Resources in a research note issued on Tuesday. KeyCorp analyst C. Stevens anticipates that the firm will earn ($0.09) per share for the quarter. KeyCorp also issued estimates for Comstock Resources’ Q2 2018 earnings at ($0.13) EPS, Q3 2018 earnings at ($0.13) EPS and FY2018 earnings at ($0.42) EPS.
Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, November 8th. The company reported ($3.27) earnings per share (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 business earned $50.33 million during the quarter, compared to the consensus estimate of $44.98 million. During the same quarter in the prior year, the firm earned ($5.30) EPS. The business’s revenue was down 18.0% on a year-over-year basis.
A number of other analysts have also recently issued reports on the company. Robert W. Baird increased their price objective on Comstock Resources from $6.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 15th. Stifel Nicolaus restated a “hold” rating on shares of Comstock Resources in a research note on Wednesday, August 31st. Imperial Capital upped their target price on Comstock Resources from $3.75 to $8.50 and gave the stock an “in-line” rating in a research note on Friday, October 7th. Finally, Zacks Investment Research upgraded Comstock Resources from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Monday, October 3rd. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.38.
Comstock Resources (NYSE:CRK) traded down 3.61% on Thursday, reaching $8.55. The company’s stock had a trading volume of 140,852 shares. The firm’s market cap is $115.04 million. The stock’s 50 day moving average price is $8.86 and its 200 day moving average price is $5.98. Comstock Resources has a 52-week low of $2.64 and a 52-week high of $13.20.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System raised its stake in 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 during the last quarter. Mariner Investment Group LLC acquired a new stake in Comstock Resources during the second quarter worth approximately $237,000. Schwab Charles Investment Management Inc. acquired a new stake in Comstock Resources during the second quarter worth approximately $229,000. Price T Rowe Associates Inc. MD acquired a new stake in Comstock Resources during the third quarter worth approximately $864,000. Finally, Coastland Capital LLC acquired a new stake in Comstock Resources during the third quarter worth approximately $935,000. 57.94% of the stock is owned by institutional investors.
In other news, Director Cecil E. Martin, Jr. bought 5,500 shares of the stock in a transaction dated Tuesday, November 15th. The stock was bought at an average price of $8.95 per share, for a total transaction of $49,225.00. Following the purchase, the director now directly owns 34,524 shares in the company, valued at approximately $308,989.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.50% of the stock is owned by insiders.
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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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