Comstock Resources (NYSE:CRK - Get Free Report) had its price target reduced by equities researchers at UBS Group from $20.00 to $18.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "sell" rating on the oil and gas producer's stock. UBS Group's price target would suggest a potential downside of 3.79% from the stock's previous close.
A number of other research firms have also issued reports on CRK. Bank of America boosted their price objective on Comstock Resources from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Mizuho upped their price target on Comstock Resources from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Citigroup reiterated a "neutral" rating and set a $27.00 price target (up previously from $22.00) on shares of Comstock Resources in a research note on Friday, June 13th. Wall Street Zen upgraded Comstock Resources to a "sell" rating in a research report on Thursday, May 8th. Finally, Wolfe Research upgraded Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 price objective on the stock in a research report on Tuesday, June 17th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.64.
Get Our Latest Stock Analysis on Comstock Resources
Comstock Resources Stock Performance
Shares of Comstock Resources stock traded down $2.08 during trading hours on Thursday, hitting $18.71. 1,579,445 shares of the company were exchanged, compared to its average volume of 2,382,776. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of -16.91 and a beta of 0.37. Comstock Resources has a 1 year low of $7.74 and a 1 year high of $31.17. The business has a 50-day moving average of $24.55 and a 200-day moving average of $21.34.
Comstock Resources (NYSE:CRK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.04. Comstock Resources had a negative return on equity of 0.67% and a negative net margin of 23.39%. The business had revenue of $470.26 million for the quarter, compared to analyst estimates of $431.82 million. During the same quarter last year, the company earned ($0.20) earnings per share. The business's revenue for the quarter was up 90.5% compared to the same quarter last year. As a group, analysts expect that Comstock Resources will post 0.54 EPS for the current fiscal year.
Institutional Trading of Comstock Resources
Hedge funds have recently bought and sold shares of the stock. Corigliano Investment Advisers LLC purchased a new stake in Comstock Resources in the 4th quarter worth about $11,450,000. Invesco Ltd. lifted its position in Comstock Resources by 79.9% during the first quarter. Invesco Ltd. now owns 1,155,680 shares of the oil and gas producer's stock valued at $23,507,000 after acquiring an additional 513,190 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Comstock Resources by 67.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,086,868 shares of the oil and gas producer's stock worth $22,107,000 after buying an additional 437,476 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Comstock Resources in the first quarter worth $8,719,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Comstock Resources in the fourth quarter worth $6,349,000. Hedge funds and other institutional investors own 36.13% of the company's stock.
About Comstock Resources
(
Get Free Report)
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.
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