Comstock Resources Inc. (CRK): Keep paying attention to its insider activity

Comstock Resources Inc. (NYSE:CRK) saw a downside of -5.10% to $9.77 after subtracting -$0.53 on Tuesday. The 5-day average trading volume is 3,192,625 shares of the company’s common stock. It has gained $10.78 in the past week. An average of 3,811,816 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,448,769.

CRK’s 1-month performance is 28.43% or $1.80 on its low of $8.15 reached on 09/13/21. The company’s shares have touched a 52-week low of $4.24 and high of $11.34, with the stock’s rally to the 52-week high happening on 10/05/21. YTD, CRK has achieved 135.70% or $5.45. However, the current price is down -13.76%% from the 52-week high price.


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Valuation Metrics

Comstock Resources Inc. (CRK) has a trailing price-to-earnings (P/E) ratio of 18.90 for the broader industry and 19.66 for the sector. The company’s PE ratio for the last five years has touched a high of 161.75 and a low of 7.736. CRK stock has a beta of 1.37. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.06 while the price-to-book (PB) in the most recent quarter is 2.12, with the price to cash flow ratio at 28.99.

Comstock Resources Inc.’s quick ratio for the period ended June 29 was 0.30, with the current ratio over the same period at 0.30 meaning that CRK stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 2.54, while the total debt to equity was 2.54. In terms of profitability, the gross margin trailing 12 months is 78.00%. The trailing 12-month EBITDA margin is 67.60% while for the period ending June 29; Comstock Resources Inc.’s operating margin was 6.00%. The firm’s gross profit as reported stood at $163.03 million against revenue of $858.2 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected CRK to announce $0.17 per share in earnings in its latest quarter, but it posted $0.22, representing a 29.40% surprise. EBITDA for the quarter stood at more than $273.03 million. CRK stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 3.82 billion, with total debt at $2.86 billion. Shareholders hold equity totaling $232.85 million

Technical Picture

Let’s look briefly at Comstock Resources Inc. (CRK) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 50.33% to suggest the stock is trending Neutral, with historical volatility in this time period at 41.43%.

The stock’s 5-day moving average is $10.28, reflecting a -9.88% or -$1.08 change from its current price. CRK is currently trading +13.82% above its 20-day SMA, +67.34% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +66.77% and +118.78% respectively.

Stochastic %K and %D was 59.25% and 65.90% and the average true range (ATR) pointed at 0.56. The RSI (14) points at 58.11%, while the 14-day stochastic is at 42.62% with the period’s ATR at 0.53. The stock’s 9-day MACD Oscillator is pointing at -0.19 and 0.04 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Comstock Resources Inc. (NYSE: CRK), Piper Sandler downgraded it to a Neutral rating. They previously had an Overweight rating on the stock. Analysts offering their rating for CRK stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate CRK as a “sell,”, while 6 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 4 have offered a “buy” rating.

What is CRK’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $9.00 and a high of $16.00, with their median price target at $11.00. Looking at these predictions, the average price target given by analysts is for Comstock Resources Inc. (CRK) stock is $11.51.

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