During the last session, Comstock Resources Inc. (NYSE:CRK)’s traded shares were 2.68 million, with the beta value of the company hitting 1.16. At the end of the trading day, the stock’s price was $10.08, reflecting an intraday loss of -3.26% or -$0.34. The 52-week high for the CRK share is $22.11, that puts it down -119.35 from that peak though still a striking 8.73% gain since the share price plummeted to a 52-week low of $9.20. The company’s market capitalization is $2.86B, and the average intraday trading volume over the past 10 days was 3.64 million shares, and the average trade volume was 4.16 million shares over the past three months.
Comstock Resources Inc. (CRK) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.70. CRK has a Sell rating from 2 analyst(s) out of 13 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.11.
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Comstock Resources Inc. (NYSE:CRK) trade information
Comstock Resources Inc. (CRK) registered a -3.26% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.26% in intraday trading to $10.08 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -4.36%, and it has moved by -5.44% in 30 days. Based on these gigs, the overall price performance for the year is -41.43%. The short interest in Comstock Resources Inc. (NYSE:CRK) is 21.16 million shares and it means that shorts have 5.39 day(s) to cover.
The consensus price target of analysts on Wall Street is $13.29, which implies an increase of 24.15% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9.00 and $22.00 respectively. As a result, CRK is trading at a discount of -118.25% off the target high and 10.71% off the low.
Comstock Resources Inc. (CRK) estimates and forecasts
Statistics show that Comstock Resources Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Comstock Resources Inc. (CRK) shares have gone down -47.28% during the last six months, with a year-to-date growth rate less than the industry average at -73.73% against -24.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -89.00% this quarter and then drop -83.10% in the quarter after that. In the rating firms’ projections, revenue will decrease -50.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $373.73 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $433.96 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $858.84 million and $780.22 million respectively. In this case, analysts expect current quarter sales to shrink by -56.50% and then drop by -44.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 19.70%. While earnings are projected to return 467.40% in 2023, the next five years will return 20.00% per annum.
Comstock Resources Inc. is due to release its next quarterly earnings between July 31 and August 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Comstock Resources Inc. is 0.50, with the dividend yield indicating at 4.96 percent, continuing the trend of increasing dividends in recent years.
Comstock Resources Inc. (NYSE:CRK)’s Major holders
Comstock Resources Inc. insiders own 67.29% of total outstanding shares while institutional holders control 33.05%, with the float percentage being 101.04%. Blackrock Inc. is the largest shareholder of the company, while 325 institutions own stock in it. As of Mar 30, 2023, the company held over 14.11 million shares (or 5.09% of all shares), a total value of $152.28 million in shares.
The next largest institutional holding, with 11.09 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 3.99% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $119.62 million.
Also, the Mutual Funds coming in first place with the largest holdings of Comstock Resources Inc. (CRK) shares are iShares Core S&P Smallcap ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF. Data provided on Feb 27, 2023 indicates that iShares Core S&P Smallcap ETF owns about 6.89 million shares. This amounts to just over 2.48 percent of the company’s overall shares, with a $83.69 million market value. The same data shows that the other fund manager holds slightly less at 5.44 million, or about 1.96% of the stock, which is worth about $66.06 million.