The price of Comstock Resources Inc. (NYSE:CRK) shares last traded on Wall Street rose 3.39% to $12.19.
Based on available information, 13 analysts follow Comstock Resources Inc. (NYSE:CRK). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $9.00, we find $13.00. Given the previous closing price of $11.79, this indicates a potential upside of 10.26 percent. CRK stock price is now 1.89% away from the 50-day moving average and 1.97% away from the 200-day moving average. The market capitalization of the company currently stands at $3.33B.
Among analysts, 8 rate the stock a hold while 2 rate it a buy. Brokers who have rated the stock have averaged $13.67 as their price target over the next twelve months.
With the price target enhanced from $10 to $12, Citigroup Upgraded its rating from Sell to Neutral for Comstock Resources Inc. (NYSE: CRK).
In other news, BURNS ROLAND O, President & CFO bought 10,000 shares of the company’s stock on Mar 24. The stock was bought for $98,988 at an average price of $9.90. Upon completion of the transaction, the President & CFO now directly owns 960,430 shares in the company, valued at $11.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 23, President & CFO BURNS ROLAND O bought 10,000 shares of the business’s stock. A total of $100,000 was incurred on buying the stock at an average price of $10.00. This leaves the insider owning 950,430 shares of the company worth $11.59 million. Insiders disposed of 175,084 shares of company stock worth roughly $2.13 million over the past 1 year. A total of 1.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CRK stock. A new stake in Comstock Resources Inc. shares was purchased by WOODLINE PARTNERS LP during the first quarter worth $31,991,000. BALYASNY ASSET MANAGEMENT L.P. invested $18,910,000 in shares of CRK during the first quarter. In the first quarter, HITE HEDGE ASSET MANAGEMENT LLC acquired a new stake in Comstock Resources Inc. valued at approximately $7,397,000. GOEHRING & ROZENCWAJG ASSOCIATES, LLC acquired a new stake in CRK for approximately $5,676,000. AVENTAIL CAPITAL GROUP, LP purchased a new stake in CRK valued at around $2,635,000 in the second quarter. In total, there are 316 active investors with 30.70% ownership of the company’s stock.
A candlestick chart of Comstock Resources Inc. (NYSE: CRK) showed a price of $12.04 on Tuesday morning. During the past 12 months, Comstock Resources Inc. has had a low of $9.07 and a high of $21.85. As of last week, the company has a debt-to-equity ratio of 0.95, a current ratio of 0.40, and a quick ratio of 0.40. According to the stock market information, the enterprise value for the company is $5.65B, which is based on a 3.51 price-to-earnings ratio, a 0.18 price-to-earnings-growth ratio, and a beta of 1.24. The fifty day moving average price for CRK is $11.98 and a two-hundred day moving average price translates $11.92 for the stock.
The latest earnings results from Comstock Resources Inc. (NYSE: CRK) was released for Jun, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0, missing analysts’ expectations of $0.05 by -0.05. This compares to $1.36 EPS in the same period last year. The net profit margin was 33.00% and return on equity was 44.50% for CRK. The company reported revenue of $288.21 million for the quarter, compared to $946.25 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -69.54 percent. For the current quarter, analysts expect CRK to generate $363.14M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/15/2023. Investors who held shares on 09/01/2023 were paid a $0.125 dividend. On an annualized basis, this represents a $0.50 dividend and a 4.10% percent yield. There was an ex-dividend date of 08/31/2023 for this dividend. In terms of dividend payout ratio, CRK is presently at 9.60%.
