Friday, November 27, 2020

Market Analysts see Comstock Resources Inc. [CRK] gaining to $8. Time to buy?

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Comstock Resources Inc. [NYSE: CRK] traded at a low on 10/20/20, posting a -1.07 loss after which it closed the day’ session at $5.55. The company report on August 15, 2020 that COMSTOCK RESOURCES, INC. ANNOUNCES PRICING OF ADD-ON OFFERING OF SENIOR NOTES.

Comstock Resources, Inc. (NYSE:CRK) (“Comstock” or the “Company”) announced today that it has priced its public offering of $300 million of its 9.75% Senior Notes due 2026 (the “Notes”). The Notes were priced at 100.5% of par. The size of the offering was increased from the previously announced $200 million to $300 million.


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The offering is expected to close on August 19, 2020, subject to customary closing conditions. The net proceeds from the offering will be approximately $296 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering to repay a portion of the indebtedness outstanding under the Company’s bank credit facility.

The results of the trading session contributed to over 1987464 shares changing hands. Over the past one week, the price volatility of Comstock Resources Inc. stands at 5.66% while the volatility over the past one month is 5.90%.

The market cap for CRK stock reached $1.29 billion, with 208.90 million shares outstanding and 71.63 million shares in the current float. Compared to the average trading volume of 2.32M shares, CRK reached a trading volume of 1987464 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Comstock Resources Inc. [CRK]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRK shares is $8.51 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRK stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Comstock Resources Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 19, 2020. The new note on the price target was released on October 09, 2020, representing the official price target for Comstock Resources Inc. stock. Previously, the target price had yet another raise to $6, while Goldman analysts kept a Neutral rating on CRK stock.

The Average True Range (ATR) for Comstock Resources Inc. is set at 0.29, with the Price to Sales ratio for CRK stock in the period of the last 12 months amounting to 1.41. The Price to Book ratio for the last quarter was 0.78, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for CRK in the course of the last twelve months was 923.64 with Quick ratio for the last quarter at 0.60.

How has CRK stock performed recently?

Comstock Resources Inc. [CRK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.94. With this latest performance, CRK shares gained by 11.45% in over the last four-week period, additionally sinking by -31.57% over the last 6 months – not to mention a drop of -21.28% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRK stock in for the last two-week period is set at 56.96, with the RSI for the last a single of trading hit 61.26, and the three-weeks RSI is set at 55.22 for Comstock Resources Inc. [CRK]. The present Moving Average for the last 50 days of trading for this stock 5.37, while it was recorded at 5.61 for the last single week of trading, and 5.67 for the last 200 days.

Comstock Resources Inc. [CRK]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Comstock Resources Inc. [CRK] shares currently have an operating margin of +35.76 and a Gross Margin at +39.57. Comstock Resources Inc.’s Net Margin is presently recorded at +12.56.

Return on Total Capital for CRK is now 9.41, given the latest momentum, and Return on Invested Capital for the company is 3.31. Return on Equity for this stock inclined to 11.27, with Return on Assets sitting at 2.82. When it comes to the capital structure of this company, Comstock Resources Inc. [CRK] has a Total Debt to Total Equity ratio set at 252.25. Additionally, CRK Total Debt to Total Capital is recorded at 71.61, with Total Debt to Total Assets ending up at 61.91. Long-Term Debt to Equity for the company is recorded at 252.07, with the Long-Term Debt to Total Capital now at 71.56.

Reflecting on the efficiency of the workforce at the company, Comstock Resources Inc. [CRK] managed to generate an average of $466,343 per employee. Receivables Turnover for the company is 5.23 with a Total Asset Turnover recorded at a value of 0.22.Comstock Resources Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Earnings analysis for Comstock Resources Inc. [CRK]

With the latest financial reports released by the company, Comstock Resources Inc. posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CRK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Comstock Resources Inc. go to 20.00%.

Insider trade positions for Comstock Resources Inc. [CRK]

There are presently around $224 million, or 17.50% of CRK stock, in the hands of institutional investors. The top three institutional holders of CRK stocks are: ADAGE CAPITAL PARTNERS GP, L.L.C. with ownership of 3,700,000, which is approximately New of the company’s market cap and around 1.30% of the total institutional ownership; STONEHILL CAPITAL MANAGEMENT LLC, holding 3,300,846 shares of the stock with an approximate value of $18.32 million in CRK stocks shares; and ALYESKA INVESTMENT GROUP, L.P., currently with $17.48 million in CRK stock with ownership of nearly New of the company’s market capitalization.

Positions in Comstock Resources Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 97 institutional holders increased their position in Comstock Resources Inc. [NYSE:CRK] by around 34,243,463 shares. Additionally, 30 investors decreased positions by around 768,843 shares, while 8 investors held positions by with 5,328,554 shares. The mentioned changes placed institutional holdings at 40,340,860 shares, according to the latest SEC report filing. CRK stock had 62 new institutional investments in for a total of 27,866,112 shares, while 12 institutional investors sold positions of 468,314 shares during the same period.

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