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Comstock Resources Inc. (NYSE: CRK) Stock Has Dropped -13.37% Over The Month – Is There Room For Growth?

Comstock Resources Inc. (NYSE:CRK)’s traded shares stood at 4.35 million during the last session, with the company’s beta value hitting 1.23. At the close of trading, the stock’s price was $10.69, to imply an increase of 4.60% or $0.47 in intraday trading. The CRK share’s 52-week high remains $22.11, putting it -106.83% down since that peak but still an impressive 18.33% since price per share fell to its 52-week low of $8.73. The company has a valuation of $3.18B, with an average of 4.9 million shares in intraday trading volume over the past 10 days and average of 5.12 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for Comstock Resources Inc. (CRK), translating to a mean rating of 2.90. Of 13 analyst(s) looking at the stock, 2 analyst(s) give CRK a Sell rating. 1 of those analysts rate the stock as Overweight while 8 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.83.

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Comstock Resources Inc. (NYSE:CRK) trade information

After registering a 4.60% upside in the last session, Comstock Resources Inc. (CRK) has traded red over the past five days. The stock hit a weekly high of 11.54 this Thursday, 03/16/23, jumping 4.60% in its intraday price action. The 5-day price performance for the stock is -7.53%, and -13.37% over 30 days. With these gigs, the year-to-date price performance is -22.03%. Short interest in Comstock Resources Inc. (NYSE:CRK) saw shorts transact 18.63 million shares and set a 4.78 days time to cover.

Analysts on Wall Street suggest a consensus price target of $15.38, implying an increase of 30.49% to the stock’s current value. The extremes give us $10.00 and $21.00 for target low and target high price respectively. As such, CRK has been trading -96.45% off suggested target high and 6.45% from its likely low.

Comstock Resources Inc. (CRK) estimates and forecasts

Looking at statistics comparing Comstock Resources Inc. share performance against respective industry, we note that the company has underperformed competitors. Comstock Resources Inc. (CRK) shares are -49.65% down over the last 6 months, with its year-to-date growth rate lower than industry average at -49.06% against -9.60%. Revenue is forecast to grow 124.30% this quarter before jumping 49.00% for the next one. The rating firms project that company’s revenue will grow 51.50% compared to the previous financial year.

Revenue forecast for the current quarter as set by 7 analysts is $657.15 million. Meanwhile, for the quarter ending Mar 2023, a total of 6 analyst(s) estimate revenue growth to $678.71 million.Earnings reports from the last fiscal year show that sales brought in $655.38 million and $524.84 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 0.30% before jumping 29.30% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 19.70% for the past 5-year period. While 2023 is set for a 460.90% return in earnings, projections for the next 5 years are at 20.00% annually.

CRK Dividends

Comstock Resources Inc. has its next earnings report out between May 01 and May 05. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Comstock Resources Inc. has a forward dividend ratio of 0.50, with the share yield ticking at 4.68% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Comstock Resources Inc. insiders hold 55.02% of total outstanding shares, with institutional holders owning 30.42% of the shares at 67.63% float percentage. In total, 30.42% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 9.78 million shares (or 4.19% of shares), all amounting to roughly $169.15 million.

The next major institution holding the largest number of shares is State Street Corporation with 6.39 million shares, or about 2.73% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $110.46 million.

We also have SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Comstock Resources Inc. (CRK) shares. Going by data provided on Dec 30, 2022, SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF holds roughly 6.91 million shares. This is just over 2.96% of the total shares, with a market valuation of $94.77 million. Data from the same date shows that the other fund manager holds a little less at 2.79 million, or 1.19% of the shares, all valued at about 48.21 million.

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