Comstock Resources, Inc. to Post Q3 2017 Earnings of ($1.48) Per Share, KeyCorp Forecasts (CRK)
Comstock Resources, Inc. (NYSE:CRK) – Research analysts at KeyCorp increased their Q3 2017 earnings per share estimates for Comstock Resources in a report issued on Tuesday. KeyCorp analyst C. Stevens now anticipates that the oil and gas producer will post earnings per share of ($1.48) for the quarter, up from their previous forecast of ($1.50). KeyCorp also issued estimates for Comstock Resources’ Q4 2017 earnings at ($1.38) EPS, FY2017 earnings at ($5.68) EPS, Q1 2018 earnings at ($1.29) EPS, Q2 2018 earnings at ($1.64) EPS, Q3 2018 earnings at ($1.60) EPS, Q4 2018 earnings at ($1.50) EPS and FY2018 earnings at ($6.04) EPS.
Comstock Resources (NYSE:CRK) last posted its quarterly earnings data on Monday, August 7th. The oil and gas producer reported ($1.07) EPS for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.60. The firm had revenue of $61.47 million for the quarter, compared to analysts’ expectations of $63.93 million. During the same period in the prior year, the company posted $0.41 earnings per share.
Several other equities analysts have also recently weighed in on the company. ValuEngine cut Comstock Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Stifel Nicolaus set a $12.00 price objective on Comstock Resources and gave the company a “buy” rating in a report on Monday, August 14th. Capital One Financial Corporation reiterated an “underweight” rating on shares of Comstock Resources in a report on Monday, August 7th. Finally, Zacks Investment Research cut Comstock Resources from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Comstock Resources currently has a consensus rating of “Hold” and a consensus price target of $12.21.
Shares of Comstock Resources (NYSE CRK) opened at 6.42 on Friday. The stock’s market capitalization is $99.37 million. Comstock Resources has a 1-year low of $5.35 and a 1-year high of $13.42. The firm’s 50-day moving average is $6.62 and its 200-day moving average is $7.89.
A number of large investors have recently added to or reduced their stakes in CRK. Segantii Capital Management Ltd purchased a new stake in Comstock Resources during the first quarter valued at approximately $148,000. SG Americas Securities LLC purchased a new stake in Comstock Resources during the first quarter valued at approximately $176,000. Northern Trust Corp boosted its stake in Comstock Resources by 3.4% in the second quarter. Northern Trust Corp now owns 31,745 shares of the oil and gas producer’s stock valued at $225,000 after buying an additional 1,055 shares during the last quarter. First Dallas Securities Inc. boosted its stake in Comstock Resources by 13.3% in the first quarter. First Dallas Securities Inc. now owns 32,367 shares of the oil and gas producer’s stock valued at $299,000 after buying an additional 3,787 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Comstock Resources by 78.9% in the first quarter. Bank of New York Mellon Corp now owns 44,490 shares of the oil and gas producer’s stock valued at $410,000 after buying an additional 19,627 shares during the last quarter. Hedge funds and other institutional investors own 53.77% of the company’s stock.
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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