UBS Group Forecasts Strong Price Appreciation for Comstock Resources (NYSE:CRK) Stock

Comstock Resources (NYSE:CRK) had its price target raised by analysts at UBS Group from $14.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the oil and gas producer’s stock. UBS Group’s target price suggests a potential downside of 30.54% from the company’s current price.

A number of other research analysts have also commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Comstock Resources in a report on Wednesday, October 8th. Mizuho set a $21.00 target price on shares of Comstock Resources and gave the company a “neutral” rating in a research report on Thursday, October 16th. Morgan Stanley lowered their price target on shares of Comstock Resources from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 4th. Piper Sandler set a $9.00 price objective on shares of Comstock Resources and gave the stock an “underweight” rating in a research note on Tuesday, October 21st. Finally, Roth Capital lowered shares of Comstock Resources from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $18.00 to $12.00 in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $19.70.

Comstock Resources Stock Up 5.7%

Comstock Resources stock opened at $23.04 on Thursday. The company’s 50-day moving average price is $18.42 and its two-hundred day moving average price is $20.59. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.24. The stock has a market cap of $6.75 billion, a P/E ratio of -95.98 and a beta of 0.24. Comstock Resources has a twelve month low of $12.96 and a twelve month high of $31.17.

Comstock Resources (NYSE:CRK) last issued 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 company had revenue of $449.85 million during the quarter, compared to analysts’ expectations of $433.54 million. Comstock Resources had a positive return on equity of 3.65% and a negative net margin of 5.05%.The business’s revenue was up 47.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.17) earnings per share. As a group, analysts expect that Comstock Resources will post 0.54 EPS for the current year.

Institutional Trading of Comstock Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in Comstock Resources in the second quarter valued at approximately $29,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Comstock Resources in the 2nd quarter valued at $34,000. Jones Financial Companies Lllp increased its stake in shares of 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 purchasing an additional 1,376 shares during the last quarter. Nisa Investment Advisors LLC increased its stake 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 purchasing an additional 1,170 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Comstock Resources during the 3rd quarter worth $44,000. 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.