In the latest trading session, 1.15 million Comstock Resources, Inc. (NYSE:CRK) shares changed hands as the company’s beta touched 0.70. With the company’s most recent per share price at $9.16 changing hands around $0.3 or 3.40% at last look, the market valuation stands at $2.56B. CRK’s current price is a discount, trading about -46.18% off its 52-week high of $13.39. The share price had its 52-week low at $7.07, which suggests the last value was 22.82% up since then. When we look at Comstock Resources, Inc.’s average trading volume, we note the 10-day average is 5.23 million shares, with the 3-month average coming to 4.79 million.
Comstock Resources, Inc. (NYSE:CRK) trade information
Instantly CRK is in green as seen in intraday trades today. With action 13.52%, the performance over the past five days has been green. The jump to weekly highs of 9.13 added 3.40% to the stock’s daily price. The company’s shares are showing year-to-date upside of 3.51%, with the 5-day performance at 13.52% in the green. However, in the 30-day time frame, Comstock Resources, Inc. (NYSE:CRK) is 12.68% up. Looking at the short shares, we see there were 25.43 million shares sold at short interest cover period of 5.01 days.
Comstock Resources, Inc. (CRK) estimates and forecasts
Data shows that the Comstock Resources, Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -11.58% over the past 6 months, a -2.13% in annual growth rate that is considerably lower than the industry average of -2.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Comstock Resources, Inc. will fall -100.00%. Year-over-year growth is forecast to reach -0.20% down from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $371.11 million. 9 analysts are of the opinion that Comstock Resources, Inc.’s revenue for the quarter ending Jun 2024 will be $358.28 million. The company’s revenue for the corresponding quarters a year ago was $489.58 million and $347.67 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -24.20%. The estimates for the next quarter sales put growth at 3.10%. The 2024 estimates are for Comstock Resources, Inc. earnings to decrease by -41.82%, but the outlook for the next 5-year period is at 20.00% per year.
CRK Dividends
Comstock Resources, Inc. is expected to release its next quarterly earnings report between April 30 and May 06. The 4.09% annual yield figure for the share gives it an annual dividend of 0.38. It is important to note, however, that the 4.09% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Comstock Resources, Inc. (NYSE:CRK)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 69.05% of Comstock Resources, Inc. shares while 35.44% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 114.50%. There are 35.44% institutions holding the Comstock Resources, Inc. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 5.21% of the shares, roughly 14.51 million CRK shares worth $168.27 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 3.94% or 10.97 million shares worth $127.29 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and iShares Core S&P Smallcap ETF. With 6.89 million shares estimated at $84.51 million under it, the former controlled 2.48% of total outstanding shares. On the other hand, iShares Core S&P Smallcap ETF held about 2.23% of the shares, roughly 6.2 million shares worth around $68.44 million.
