UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 15,936 Shares of Comstock Resources, Inc. (NYSE:CRK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 11.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 123,405 shares of the oil and gas producer’s stock after selling 15,936 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Comstock Resources were worth $1,373,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRK. Royce & Associates LP boosted its holdings in Comstock Resources by 79.2% in the 3rd quarter. Royce & Associates LP now owns 689,780 shares of the oil and gas producer’s stock valued at $7,677,000 after purchasing an additional 304,780 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Comstock Resources by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock worth $15,736,000 after buying an additional 57,376 shares in the last quarter. Intech Investment Management LLC bought a new stake in Comstock Resources during the third quarter valued at $419,000. Goehring & Rozencwajg Associates LLC grew its position in Comstock Resources by 27.8% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 683,570 shares of the oil and gas producer’s stock worth $7,095,000 after buying an additional 148,700 shares in the last quarter. Finally, HITE Hedge Asset Management LLC bought a new position in Comstock Resources in the 2nd quarter worth about $6,544,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Comstock Resources Stock Down 0.2 %

Shares of NYSE:CRK opened at $16.09 on Wednesday. The stock has a market capitalization of $4.70 billion, a P/E ratio of -89.28 and a beta of 0.57. The stock’s 50-day moving average price is $13.54 and its 200-day moving average price is $11.62. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.25. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $17.79.

Comstock Resources (NYSE:CRK) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative return on equity of 3.88% and a negative net margin of 4.93%. The company had revenue of $304.50 million for the quarter, compared to the consensus estimate of $308.75 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. Comstock Resources’s revenue was down 19.2% compared to the same quarter last year. On average, equities analysts anticipate that Comstock Resources, Inc. will post -0.44 earnings per share for the current year.

Analysts Set New Price Targets

CRK has been the subject of several recent analyst reports. Truist Financial boosted their price objective on Comstock Resources from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Citigroup boosted their price target on shares of Comstock Resources from $12.50 to $15.50 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Mizuho upgraded shares of Comstock Resources from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $10.00 to $18.00 in a research report on Monday. Bank of America began coverage on shares of Comstock Resources in a research report on Monday, October 28th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Siebert Williams Shank downgraded Comstock Resources from a “hold” rating to a “sell” rating and set a $9.00 price target on the stock. in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.78.

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.