Comstock Resources' (CRK) Sell Rating Reaffirmed at UBS Group

UBS Group reaffirmed their sell rating on shares of Comstock Resources (NYSE:CRK - Free Report) in a research note released on Thursday morning, Marketbeat.com reports. The firm currently has a $20.00 price target on the oil and gas producer's stock, up from their prior price target of $19.00.

Several other research analysts have also recently commented on CRK. Piper Sandler reissued an "underweight" rating and set a $12.00 target price (up from $6.00) on shares of Comstock Resources in a research note on Tuesday, May 13th. Bank of America boosted their price objective on Comstock Resources from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen raised shares of Comstock Resources to a "sell" rating in a report on Thursday, May 8th. Citigroup reiterated a "neutral" rating and issued a $27.00 price target (up previously from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. Finally, Mizuho increased their price objective on shares of Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Comstock Resources currently has an average rating of "Hold" and an average target price of $19.82.

Comstock Resources Stock Up 1.1%

Shares of NYSE CRK traded up $0.24 during midday trading on Thursday, hitting $22.39. The company's stock had a trading volume of 1,918,755 shares, compared to its average volume of 2,531,176. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of -20.17 and a beta of 0.37. The business's fifty day simple moving average is $24.83 and its two-hundred day simple moving average is $21.08. Comstock Resources has a 1 year low of $7.74 and a 1 year high of $31.17.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $512.85 million during the quarter, compared to analysts' expectations of $408.99 million. Comstock Resources had a negative net margin of 23.39% and a negative return on equity of 0.67%. The firm's revenue was up 52.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) EPS. On average, equities analysts predict that Comstock Resources will post 0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Illinois Municipal Retirement Fund lifted its position in Comstock Resources by 1.2% in the first quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer's stock valued at $917,000 after acquiring an additional 550 shares during the last quarter. Bank of Montreal Can increased its position in shares of Comstock Resources by 1.9% during the fourth quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer's stock worth $747,000 after purchasing an additional 772 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Comstock Resources by 17.6% in the 1st quarter. GAMMA Investing LLC now owns 6,803 shares of the oil and gas producer's stock valued at $138,000 after purchasing an additional 1,017 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Comstock Resources by 11.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,599 shares of the oil and gas producer's stock valued at $236,000 after purchasing an additional 1,145 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Comstock Resources by 129.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock worth $42,000 after buying an additional 1,170 shares during the last quarter. 36.13% of the stock is owned by hedge funds and other institutional investors.

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.