Is Comstock Resources Inc. (NYSE: CRK) Worth Your Money In 2022? – Marketing Sentinel
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Is Comstock Resources Inc. (NYSE: CRK) Worth Your Money In 2022?

In today’s recent session, 0.68 million shares of the Comstock Resources Inc. (NYSE:CRK) have been traded, and its beta is 1.17. Most recently the company’s share price was $14.48, and it changed around -$0.49 or -3.31% from the last close, which brings the market valuation of the company to $3.77B. CRK at last check was trading at a discount to its 52-week high of $22.11, offering almost -52.69% off that amount. The share price’s 52-week low was $5.05, which indicates that the recent value has risen by an impressive 65.12% since then. We note from Comstock Resources Inc.’s average daily trading volume that its 10-day average is 3.79 million shares, with the 3-month average coming to 3.93 million.

Comstock Resources Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 1 out of 9 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 3 recommended CRK as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Comstock Resources Inc. is expected to report earnings per share of $0.71 for the current quarter.

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Comstock Resources Inc. (NYSE:CRK) trade information

Instantly CRK has been showing red trend so far today with a performance of -3.31% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 17.36 on Tuesday, 06/21/22 increased the stock’s daily price by 16.59%. The company’s shares are currently up 85.04% year-to-date, but still down -18.15% over the last five days. On the other hand, Comstock Resources Inc. (NYSE:CRK) is -3.85% down in the 30-day period. We can see from the shorts that 11.6 million shares have been sold at a short interest cover period of 2.84 day(s).

The consensus price target as assigned by Wall Street analysts is $21.22, which translates to bulls needing to increase their stock price by 31.76% from its current value. Analyst projections state that CRK is forecast to be at a low of $15.00 and a high of $36.00. In order for the stock price to hit the forecast high, the stock would need to plunge -148.62% from its current level, while the stock would need to crash -3.59% from its current level to reach the projected low.

Comstock Resources Inc. (CRK) estimates and forecasts

Comstock Resources Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 74.88 percent over the past six months and at a 209.48% annual growth rate that is well above the industry average of 26.50%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 222.70% in revenue this quarter, and will report an increase of 182.40% in the next quarter. The year-over-year growth rate is expected to be 18.30%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $560.88 million in revenue for the current quarter. 4 analysts expect Comstock Resources Inc. to make $696.61 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $343.69 million and $417.59 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 63.20%. Forecasts for the next quarter put sales growth at 66.80%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 37.30%. Comstock Resources Inc. earnings are expected to increase by -188.70% in 2022, but the outlook is positive 20.00% per year for the next five years.

CRK Dividends

Comstock Resources Inc.’s next quarterly earnings report is expected to be released around August 01 and August 05.

Comstock Resources Inc. (NYSE:CRK)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 65.33% of Comstock Resources Inc. shares, and 32.75% of them are in the hands of institutional investors. The stock currently has a share float of 94.47%. Comstock Resources Inc. stock is held by 255 institutions, with State Street Corporation being the largest institutional investor. By Mar 30, 2022, it held 3.75% of the shares, which is about 8.73 million shares worth $113.91 million.

Vanguard Group, Inc. (The), with 3.10% or 7.23 million shares worth $94.32 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Apr 29, 2022. The former held 7.03 million shares worth $119.8 million, making up 3.02% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.42 million shares worth around $31.54 million, which represents about 1.04% of the total shares outstanding.

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