Comstock Resources Inc (CRK) Forecasted to Earn FY2017 Earnings of ($4.49) Per Share
Comstock Resources Inc (NYSE:CRK) – Stock analysts at KeyCorp dropped their FY2017 EPS estimates for shares of Comstock Resources in a note issued to investors on Tuesday. KeyCorp analyst C. Stevens now anticipates that the oil and gas producer will post earnings per share of ($4.49) for the year, down from their prior estimate of ($4.47). KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Comstock Resources’ Q4 2017 earnings at ($0.88) EPS, Q1 2018 earnings at ($0.60) EPS, Q2 2018 earnings at ($0.86) EPS, Q3 2018 earnings at ($0.80) EPS, Q4 2018 earnings at ($0.53) EPS, FY2018 earnings at ($2.79) EPS, Q1 2019 earnings at ($0.15) EPS, Q2 2019 earnings at ($0.36) EPS, Q3 2019 earnings at ($0.33) EPS and FY2019 earnings at ($1.06) EPS.
Several other brokerages also recently issued reports on CRK. ValuEngine downgraded Comstock Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Robert W. Baird set a $12.00 price objective on shares of Comstock Resources and gave the company a “buy” rating in a research report on Friday, November 17th. Finally, Barclays decreased their price objective on shares of Comstock Resources from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. Three 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. The stock has a consensus rating of “Hold” and an average price target of $11.40.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Comstock Resources by 40.4% during the second quarter. Vanguard Group Inc. now owns 628,355 shares of the oil and gas producer’s stock worth $4,443,000 after acquiring an additional 180,935 shares during the period. First Washington CORP raised its stake in Comstock Resources by 227.8% during the third quarter. First Washington CORP now owns 368,562 shares of the oil and gas producer’s stock worth $2,241,000 after acquiring an additional 256,122 shares during the period. Macquarie Group Ltd. acquired a new stake in Comstock Resources during the third quarter worth about $430,000. Russell Investments Group Ltd. raised its stake in Comstock Resources by 22.7% during the third quarter. Russell Investments Group Ltd. now owns 59,041 shares of the oil and gas producer’s stock worth $359,000 after acquiring an additional 10,936 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Comstock Resources by 23.6% during the second quarter. Bank of New York Mellon Corp now owns 54,970 shares of the oil and gas producer’s stock worth $389,000 after acquiring an additional 10,480 shares during the period. Hedge funds and other institutional investors own 52.69% of the company’s stock.
In related news, CEO M Jay Allison purchased 41,000 shares of Comstock Resources stock in a transaction dated Monday, December 4th. The shares were acquired at an average price of $6.17 per share, with a total value of $252,970.00. Following the completion of the transaction, the chief executive officer now owns 520,130 shares of the company’s stock, valued at approximately $3,209,202.10. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 11.60% of the company’s stock.
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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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