Comstock Resources Inc. [NYSE: CRK] loss -8.07% or -1.13 points to close at $12.88 with a heavy trading volume of 5263484 shares. The company report on May 3, 2022 that COMSTOCK RESOURCES, INC. REPORTS FIRST QUARTER 2022 FINANCIAL AND OPERATING RESULTS.
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Comstock Resources, Inc. (“Comstock” or the “Company”) (NYSE: CRK) today reported financial and operating results for the quarter ended March 31, 2022.
It opened the trading session at $14.17, the shares rose to $14.29 and dropped to $12.635, the range by which the price of stock traded the whole day. The daily chart for CRK points out that the company has recorded 47.71% gains over the past six months. However, it is still -155.05% lower than its most recent low trading price.
If we look at the average trading volume of 3.96M shares, CRK reached to a volume of 5263484 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $20.40 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 2.30. 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 Underweight, with their previous recommendation back on May 18, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $6.50 to $6. The new note on the price target was released on March 15, 2021, representing the official price target for Comstock Resources Inc. stock. Previously, the target price had yet another raise to $5, while BMO Capital Markets analysts kept a Market Perform rating on CRK stock. On December 15, 2020, analysts decreased their price target for CRK shares from 8 to 5.
The Average True Range (ATR) for Comstock Resources Inc. is set at 1.34, with the Price to Sales ratio for CRK stock in the period of the last 12 months amounting to 1.60. The Price to Book ratio for the last quarter was 3.33, 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 15.23 with Quick ratio for the last quarter at 0.30.
Trading performance analysis for CRK stock
Comstock Resources Inc. [CRK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.15. With this latest performance, CRK shares dropped by -23.97% in over the last four-week period, additionally plugging by 47.71% over the last 6 months – not to mention a rise of 89.69% 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 28.64, with the RSI for the last a single of trading hit 18.75, and the three-weeks RSI is set at 35.50 for Comstock Resources Inc. [CRK]. The present Moving Average for the last 50 days of trading for this stock 17.21, while it was recorded at 14.66 for the last single week of trading, and 11.24 for the last 200 days.
Comstock Resources Inc. [CRK]: A deeper dive into fundamental analysis
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 0.30 and a Current Ratio set at 0.30.
Comstock Resources Inc. [CRK]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at Comstock Resources Inc. [CRK]
There are presently around $1,039 million, or 32.80% of CRK stock, in the hands of institutional investors. The top three institutional holders of CRK stocks are: STATE STREET CORP with ownership of 8,728,560, which is approximately 10.779% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 7,227,385 shares of the stock with an approximate value of $101.26 million in CRK stocks shares; and BLACKROCK INC., currently with $99.14 million in CRK stock with ownership of nearly 12.508% 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 104 institutional holders increased their position in Comstock Resources Inc. [NYSE:CRK] by around 13,683,572 shares. Additionally, 93 investors decreased positions by around 22,407,540 shares, while 25 investors held positions by with 38,066,225 shares. The mentioned changes placed institutional holdings at 74,157,337 shares, according to the latest SEC report filing. CRK stock had 41 new institutional investments in for a total of 4,417,688 shares, while 33 institutional investors sold positions of 12,072,179 shares during the same period.