As of Friday close, Comstock Resources Inc.’s (NYSE:CRK) stock was down -$0.12, moving down -1.15 percent to $10.35. The average number of shares traded per day over the past five days has been 3,630,780 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.27 fall in that time frame. In the last twenty days, the average volume was 3,323,095, while in the previous 50 days, it was 3,098,010.
Since last month, CRK stock retreated -9.45%. Shares of the company fell to $10.30 on 09/22/23, the lowest level in the past month. A 52-week high of $21.17 was reached on 01/17/23 after having rallying from a 52-week low of $9.07. Since the beginning of this year, CRK’s stock price has dropped by -24.51% or -$3.36, and marked a new high 3 times. However, the stock has declined by -51.10% since its 52-week high.
CRK stock investors should be aware that Comstock Resources Inc. (CRK) stock had its last reported insider trading activity 183 days ago on Mar 24. BURNS ROLAND O, the President & CFO of the company, purchased of 10,000 shares for $9.90 on Mar 24. It resulted in a $98,988 investment by the insider. BURNS ROLAND O added 10,000 shares at an average price of $10.00 on Mar 23. The insider now owns 950,430 shares following the transaction. On Mar 15, Vice President of Operations McGough Patrick bought 20,000 shares at $10.05 apiece. The transaction was valued at $201,000.
Valuation Metrics
Right now, Comstock Resources Inc. (CRK) has a P/E ratio of about 2.98. The stock’s beta is 1.27. Besides these, the trailing price-to-sales (P/S) ratio of 1.03, the price-to-book (PB) ratio of 1.25, and the price-to-cash flow ratio of 7.03 may also be considered.
The latest dividend of $0.1250 per share was paid out, remained unchanged from last year’s $0.1250.
Financial Health
In the three months ended June 29, Comstock Resources Inc.’s quick ratio stood at 0.40, while its current ratio was 0.40, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.95, and the total debt-to-equity ratio was 0.95. On the profitability front, the trailing twelve-month gross margin is 69.60% percent. In the year ended June 29, EBITDA margin amounted to 76.37%, whereas operating margins totaled 49.10%. Based on annual data, CRK earned $2.28 billion in gross profit and brought in $3.63 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 44.50%. Return on equity (ROE) for the past 12 months was 44.50%.
In Comstock Resources Inc.’s quarter-end financial report for June 29, it reported total debt of $2.18 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CRK’s revenue fell -228.32% to $489.58 million during the quarter, while net income inched up to $288.21 million. While analysts expected Comstock Resources Inc. to report $0.05 quarterly earnings, the actual figure was $0 per share. During the quarter, the company generated $125.1 million in EBITDA. The liabilities of Comstock Resources Inc. were 3.54 billion at the end of its most recent quarter ended June 29, and its total debt was $2.37 billion. The value of shareholders’ equity is $278.48 million.
Technical Picture
This quick technical analysis looks at Comstock Resources Inc.’s (CRK) price momentum. With a historical volatility rate of 29.43%, the RSI 9-day stood at 22.26% on 22 September.
With respect to its five-day moving average, the current Comstock Resources Inc. price is down by -10.93% percent or -$1.27. At present, CRK shares trade -9.76% below its 20-day simple moving average and -8.49% percent below its 100-day simple moving average. However, the stock is currently trading approximately -12.36% below its SMA50 and -30.30% below its SMA200.
Stochastic coefficient K was 2.33% and Stochastic coefficient D was 1.89%, while ATR was 0.42. Given the Stochastic reading of 2.02% for the 14-day period, the RSI (14) reading has been calculated as 30.21%. As of today, the MACD Oscillator reading stands at -0.83, while the 14-day reading stands at -1.13.
Analyst Ratings
Citigroup upgraded its rating on Comstock Resources Inc. (NYSE: CRK) to a Neutral in a note to investors on April 20, 2023. The analysts firm previously had a Sell rating on the stock.Comstock Resources Inc. (CRK) has been rated Hold by analysts. According to 2 brokerage firms, CRK is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Comstock Resources Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $13.00, the current consensus forecast for the stock is $9.00 – $20.00. Based on these forecasts, analysts predict Comstock Resources Inc. (CRK) will achieve an average price target of $13.58.
