Comstock Resources (NYSE:CRK) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of Comstock Resources (NYSE:CRK) in a research report report published on Tuesday, MarketBeat.com reports. The firm issued a neutral rating and a $19.00 price target on the oil and gas producer’s stock.

CRK has been the topic of a number of other reports. StockNews.com raised Comstock Resources to a “sell” rating in a report on Saturday, April 19th. Piper Sandler raised their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Williams Trading set a $13.00 price target on shares of Comstock Resources in a research note on Wednesday, March 5th. Truist Financial raised their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Morgan Stanley reissued a “cautious” rating and set a $22.00 target price (up previously from $21.00) on shares of Comstock Resources in a report on Wednesday, March 26th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.23.

Comstock Resources Trading Down 0.7 %

Shares of NYSE:CRK opened at $18.35 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average price is $19.00 and its 200 day moving average price is $17.01. The company has a market cap of $5.37 billion, a PE ratio of -24.14, a P/E/G ratio of 1.65 and a beta of 0.42. Comstock Resources has a fifty-two week low of $7.74 and a fifty-two week high of $22.06.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. The company had revenue of $366.51 million for the quarter, compared to analysts’ expectations of $370.62 million. Sell-side analysts anticipate that Comstock Resources will post 0.54 earnings per share for the current year.

Hedge Funds Weigh In On Comstock Resources

A number of hedge funds and other institutional investors have recently modified their holdings of CRK. VSM Wealth Advisory LLC acquired a new stake in Comstock Resources during the 4th quarter worth about $27,000. Sterling Capital Management LLC raised its holdings in shares of Comstock Resources by 804.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,958 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 2,631 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Comstock Resources by 225.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,359 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 2,326 shares in the last quarter. Quarry LP acquired a new position in Comstock Resources in the 4th quarter worth approximately $70,000. Finally, KBC Group NV grew its position in Comstock Resources by 46.8% during the 4th quarter. KBC Group NV now owns 6,480 shares of the oil and gas producer’s stock worth $118,000 after purchasing an additional 2,066 shares in the last quarter. Institutional investors and hedge funds own 36.13% of the company’s stock.

Comstock Resources Company Profile

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.