The stock of Comstock Resources Inc. (NYSE:CRK) decreased by -$0.18 on Tuesday to finish at $11.92, down -1.49 percent. The last five days have seen an average of 2,823,040 shares of common stock traded. 3 times new highs were reached in the current year, with a fall of -$1.79. The average number of shares traded over the last 20 days was 3,044,585, while the average volume over the last 50 days totaled 3,358,692.
CRK stock appreciated 2.67% since last month. On 08/02/23, the company’s shares reached a one-month low of $11.17. The stock touched a high of $21.85 on 01/17/23, after rallying from a low of $9.07 in 52 weeks. The price of CRK stock has declined by -13.06% or -$1.79 this year, reaching a new high 3 times. Still, the stock price is down -45.45% from the 52-week high.
Insider Transactions
CRK stock investors should be aware that Comstock Resources Inc. (CRK) stock had its last reported insider trading activity 145 days ago on Mar 24. On Mar 24, President & CFO BURNS ROLAND O acquired 10,000 shares at $9.90 each. This transaction resulted in the insider spending $98,988. On Mar 23, BURNS ROLAND O added 10,000 shares at a price of US$10.00. After the transaction, the insider now owns 950,430 shares. Vice President of Operations McGough Patrick had earlier bought 20,000 shares on Mar 15 for $10.05 a share. The transaction was completed for $201,000.
Valuation Metrics
Comstock Resources Inc. (CRK) has a trailing price-to-earnings (P/E) ratio of 3.43. Beta for the stock is 1.24. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.15, the price-to-book (PB) ratio of 1.43, and the price-to-cash flow ratio of 7.86.
Company paid $0.1250 per share in dividends, remained unchanged from $0.1250 last year.
Financial Health
For the three months ended June 29, Comstock Resources Inc.’s quick ratio was 0.40, while its current ratio was 0.40, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.95, and the total debt to equity ratio is 0.95. As far as profitability goes, gross margin for the trailing twelve months is 69.60% percent. Comstock Resources Inc.’s EBITDA margin for the year ended June 29 was 76.37%, whereas its operating margin stood at 49.10% for the same period. Based on annual data, it had gross profit of $2.28 billion and revenue of $3.63 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CRK’s return on assets (ROA) during the last 12 months has been 16.70%. There was a 44.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 44.50%.
Earnings Surprise
According to Comstock Resources Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $288.21 million, while revenues fell by -228.32% to $489.58 million. It was predicted that Comstock Resources Inc.’s quarterly earnings would be $0, but it ended up being $0.05. EBITDA was $125.1 million for the quarter. At the end of Comstock Resources Inc.’s most recent quarter ended June 29, its liabilities totaled 3.54 billion, while its total debt was $2.37 billion. Equity owned by shareholders amounts to $278.48 million.
Technical Picture
Here’s a quick look at Comstock Resources Inc.’s (CRK) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 44.08%, suggesting the stock is Neutral, with a 34.88% historical volatility rate.
The stochastic %K and %D were 43.84% and 52.41% respectively, while the average true range (ATR) was 0.49. Based on the 14-day stochastic reading of 34.25%, the RSI (14) reading is 49.02%. On the 9-day MACD Oscillator, the stock is at -0.19, and the 14-day reading is at -0.11.
Analyst Ratings
In its most recent analyst report, Citigroup raised its rating on Comstock Resources Inc. (NYSE: CRK) to a Neutral. Prior to this, analysts firm rated the stock as a Sell. Analysts have assigned Comstock Resources Inc. (CRK) an Hold rating. CRK is a stock that is recommended for selling by 2 brokerage firms, while 8 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 2 others recommend it as a buy.
What is CRK’s price target for the next 12 months?
The current consensus forecast for the stock is between $9.00 and $19.00, with a median target price of $13.00. In analyzing these forecasts, the average price target given by analysts for Comstock Resources Inc. (CRK) is $13.50.
