Comstock Resources Inc. [NYSE: CRK] closed the trading session at $16.69 on 04/27/22. The day’s price range saw the stock hit a low of $16.10, while the highest price level was $17.14. The company report on April 14, 2022 that COMSTOCK RESOURCES, INC. ANNOUNCES EARLY REDEMPTION OF 7.50% SENIOR NOTES DUE 2025.
Comstock Resources, Inc. (“Comstock” or the “Company”) (NYSE: CRK) announced today the early redemption of all of its outstanding 7.50% Senior Notes due 2025 (CUSIP Nos. 22304LAA8/U2201LAA1; and ISIN Nos. US22304LAA89/USU2201LAA18) (the “2025 Senior Notes”). The 2025 Senior Notes have an outstanding aggregate principal amount of $244.4 million and will be redeemed in full on May 15, 2022 (the “Redemption Date”).
In accordance with the terms and conditions set forth in the indenture governing the 2025 Senior Notes, the Company will pay the redemption price of 101.875% of the principal amount of the 2025 Senior Notes for a total of approximately $249.0 million, and will pay any accrued and unpaid interest up to the Redemption Date.
The stocks have a year to date performance of 106.30 percent and weekly performance of -5.60 percent. The stock has been moved at 55.98 percent over the last six months. The stock has performed 29.68 percent around the most recent 30 days and changed 133.75 percent over the most recent 3-months.
If compared to the average trading volume of 4.14M shares, CRK reached to a volume of 3362177 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $17.60 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 2.20. 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 Neutral, with their previous recommendation back on March 15, 2021. The new note on the price target was released on January 11, 2021, representing the official price target for Comstock Resources Inc. stock. Previously, the target price had yet another drop from $8 to $5, while Truist kept a Hold rating on CRK stock.
The Average True Range (ATR) for Comstock Resources Inc. is set at 1.11, with the Price to Sales ratio for CRK stock in the period of the last 12 months amounting to 2.30. The Price to Book ratio for the last quarter was 3.82, with the Price to Cash per share for the same quarter was set at 0.12. Price to Free Cash Flow for CRK in the course of the last twelve months was 25.03 with Quick ratio for the last quarter at 0.50.
CRK stock trade performance evaluation
Comstock Resources Inc. [CRK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.60. With this latest performance, CRK shares gained by 29.68% in over the last four-week period, additionally plugging by 55.98% over the last 6 months – not to mention a rise of 206.80% 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 65.65, with the RSI for the last a single of trading hit 61.89, and the three-weeks RSI is set at 67.10 for Comstock Resources Inc. [CRK]. The present Moving Average for the last 50 days of trading for this stock 11.82, while it was recorded at 16.49 for the last single week of trading, and 9.01 for the last 200 days.
Comstock Resources Inc. [CRK]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Comstock Resources Inc. [CRK] shares currently have an operating margin of +57.43 and a Gross Margin at +59.32. Comstock Resources Inc.’s Net Margin is presently recorded at -13.06.
Return on Equity for this stock declined to -18.39, with Return on Assets sitting at -5.05.
Comstock Resources Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.
Earnings per share (EPS) analysis for Comstock Resources Inc. [CRK] stock
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%.
Comstock Resources Inc. [CRK]: Insider Ownership positions
There are presently around $1,301 million, or 35.50% of CRK stock, in the hands of institutional investors. The top three institutional holders of CRK stocks are: STATE STREET CORP with ownership of 7,879,285, which is approximately 410.736% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 6,289,627 shares of the stock with an approximate value of $101.77 million in CRK stocks shares; and VANGUARD GROUP INC, currently with $98.29 million in CRK stock with ownership of nearly 28.942% of the company’s market capitalization.
Positions in Comstock Resources Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 115 institutional holders increased their position in Comstock Resources Inc. [NYSE:CRK] by around 30,792,040 shares. Additionally, 82 investors decreased positions by around 16,169,188 shares, while 25 investors held positions by with 33,427,388 shares. The mentioned changes placed institutional holdings at 80,388,616 shares, according to the latest SEC report filing. CRK stock had 54 new institutional investments in for a total of 5,913,763 shares, while 35 institutional investors sold positions of 8,660,367 shares during the same period.