UBS Group Lowers Comstock Resources (NYSE:CRK) Price Target to $18.00

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Comstock Resources (NYSE:CRK - Free Report) had its price objective trimmed by UBS Group from $20.00 to $18.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a sell rating on the oil and gas producer's stock.

A number of other equities analysts also recently commented on the stock. Citigroup restated a "neutral" rating and set a $27.00 price objective (up previously from $22.00) on shares of Comstock Resources in a research report on Friday, June 13th. Mizuho increased their target price on shares of Comstock Resources from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wall Street Zen upgraded Comstock Resources to a "sell" rating in a research note on Thursday, May 8th. Wolfe Research upgraded shares of Comstock Resources from a "peer perform" rating to an "outperform" rating and set a $34.00 target price for the company in a research note on Tuesday, June 17th. Finally, Piper Sandler reaffirmed an "underweight" rating and set a $12.00 price target (up previously from $6.00) on shares of Comstock Resources in a report on Tuesday, May 13th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $19.18.

Comstock Resources Trading Down 1.0%

Shares of CRK traded down $0.17 during trading on Thursday, reaching $16.24. 3,072,387 shares of the company traded hands, compared to its average volume of 2,736,223. The stock has a 50-day simple moving average of $24.09 and a 200-day simple moving average of $21.26. Comstock Resources has a twelve month low of $7.74 and a twelve month high of $31.17. The stock has a market cap of $4.76 billion, a PE ratio of -67.66 and a beta of 0.28. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The oil and gas producer reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.04. The firm had revenue of $470.26 million during the quarter, compared to the consensus estimate of $431.82 million. Comstock Resources had a negative net margin of 5.05% and a positive return on equity of 3.65%. The company's revenue was up 90.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. On average, analysts anticipate that Comstock Resources will post 0.54 earnings per share for the current year.

Hedge Funds Weigh In On Comstock Resources

Hedge funds have recently bought and sold shares of the business. Illinois Municipal Retirement Fund grew its position in Comstock Resources by 1.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 45,075 shares of the oil and gas producer's stock worth $917,000 after purchasing an additional 550 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Comstock Resources by 1.9% in the 4th quarter. Bank of Montreal Can now owns 40,983 shares of the oil and gas producer's stock valued at $747,000 after purchasing an additional 772 shares during the last quarter. GAMMA Investing LLC boosted its position 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 worth $138,000 after purchasing an additional 1,017 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised 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 acquiring an additional 1,145 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Comstock Resources by 129.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,075 shares of the oil and gas producer's stock valued at $42,000 after buying an additional 1,170 shares during the period. 36.13% of the stock is owned by institutional investors and hedge funds.

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.