UBS Group Issues Positive Forecast for Comstock Resources (NYSE:CRK) Stock Price

Comstock Resources (NYSE:CRK) had its target price lifted by UBS Group from $14.00 to $16.00 in a research note published on Thursday morning,Benzinga reports. UBS Group currently has a sell rating on the oil and gas producer’s stock.

A number of other research firms also recently issued reports on CRK. Roth Capital downgraded shares of Comstock Resources from a “neutral” rating to a “sell” rating and decreased their price target for the company from $18.00 to $12.00 in a research note on Monday, August 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Comstock Resources in a report on Wednesday, October 8th. Zacks Research cut shares of Comstock Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Piper Sandler set a $9.00 price target on Comstock Resources and gave the stock an “underweight” rating in a research report on Tuesday, October 21st. Finally, Mizuho set a $21.00 price objective on Comstock Resources and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $19.70.

Comstock Resources Price Performance

Shares of Comstock Resources stock opened at $21.83 on Thursday. The firm has a market cap of $6.40 billion, a PE ratio of -90.95 and a beta of 0.24. The stock has a 50 day moving average of $18.29 and a 200 day moving average of $20.56. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.24. Comstock Resources has a 12 month low of $12.73 and a 12 month high of $31.17.

Comstock Resources (NYSE:CRK) last released its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $449.85 million for the quarter, compared to the consensus estimate of $433.54 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The company’s revenue was up 47.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) EPS. On average, research analysts expect that Comstock Resources will post 0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Legacy Investment Solutions LLC purchased a new stake in shares of Comstock Resources in the second quarter worth approximately $29,000. Atlantic Union Bankshares Corp bought a new position in Comstock Resources in the 2nd quarter valued at $34,000. Jones Financial Companies Lllp grew its position in Comstock Resources by 671.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,581 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 1,376 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Comstock Resources by 129.3% in the first quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 1,170 shares during the period. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Comstock Resources during the third quarter worth $44,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.