Comstock Resources Inc (NYSE:CRK) to Post Q1 2021 Earnings of $0.27 Per Share, US Capital Advisors Forecasts

Comstock Resources Inc (NYSE:CRK) – Investment analysts at US Capital Advisors increased their Q1 2021 EPS estimates for shares of Comstock Resources in a research report issued to clients and investors on Monday, May 20th, Zacks Investment Research reports. US Capital Advisors analyst C. Horwitz now anticipates that the oil and gas producer will post earnings per share of $0.27 for the quarter, up from their previous estimate of $0.25.

Comstock Resources (NYSE:CRK) last released its earnings results on Thursday, May 9th. The oil and gas producer reported $0.22 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.05). Comstock Resources had a return on equity of 14.66% and a net margin of 6.04%. The company had revenue of $126.88 million during the quarter, compared to analysts’ expectations of $130.70 million.

Several other brokerages have also recently issued reports on CRK. Zacks Investment Research cut shares of Comstock Resources from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Capital One Financial upgraded shares of Comstock Resources from an “underweight” rating to an “equal weight” rating in a report on Thursday, May 23rd. ValuEngine cut shares of Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Monday, June 3rd. Finally, B. Riley started coverage on shares of Comstock Resources in a report on Monday, May 20th. They set a “neutral” rating and a $6.50 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $8.33.

Comstock Resources stock traded down $0.21 during midday trading on Wednesday, hitting $5.00. 544,941 shares of the company’s stock were exchanged, compared to its average volume of 469,548. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.17. Comstock Resources has a 12 month low of $4.17 and a 12 month high of $12.32.

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in shares of Comstock Resources in the 4th quarter valued at approximately $6,349,000. Barclays PLC increased its holdings in Comstock Resources by 775.8% in the 4th quarter. Barclays PLC now owns 370,507 shares of the oil and gas producer’s stock worth $1,679,000 after buying an additional 328,202 shares during the period. Thrivent Financial for Lutherans increased its holdings in Comstock Resources by 402.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 248,282 shares of the oil and gas producer’s stock worth $1,124,000 after buying an additional 198,846 shares during the period. First Trust Advisors LP acquired a new stake in shares of Comstock Resources during the 4th quarter worth approximately $619,000. Finally, TCG Advisors LP acquired a new stake in shares of Comstock Resources during the 1st quarter worth approximately $913,000. 6.87% of the stock is owned by institutional investors and hedge funds.

Comstock Resources Company Profile

Comstock Resources, Inc and its subsidiaries engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. The company is headquartered in Frisco, Texas.

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Earnings History and Estimates for Comstock Resources (NYSE:CRK)

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