The stock of Comstock Resources Inc. (NYSE:CRK) last traded at $10.78, up 4.05% from the previous session.
Data from the available sources indicates that Comstock Resources Inc. (NYSE:CRK) is covered by 13 analysts. 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 $10.36, this indicates a potential upside of 25.48 percent. CRK stock price is now -9.27% away from the 50-day moving average and -7.20% away from the 200-day moving average. The market capitalization of the company currently stands at $3.00B.
In total, 8 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $13.58 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 $10.35 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 $10.25 million. Insiders disposed of 175,084 shares of company stock worth roughly $1.89 million over the past 1 year. A total of 67.31% 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 $28,291,000. BALYASNY ASSET MANAGEMENT L.P. invested $16,723,000 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 $6,542,000. GOEHRING & ROZENCWAJG ASSOCIATES, LLC acquired a new stake in CRK for approximately $5,019,000. AVENTAIL CAPITAL GROUP, LP purchased a new stake in CRK valued at around $2,330,000 in the second quarter. In total, there are 316 active investors with 33.32% ownership of the company’s stock.
With an opening price of $10.56 on Wednesday morning, Comstock Resources Inc. (NYSE: CRK) set off the trading day. During the past 12 months, Comstock Resources Inc. has had a low of $9.07 and a high of $21.17. As of last week, the company has a debt-to-equity ratio of 1.03, a current ratio of 0.37, and a quick ratio of 0.31. According to the stock market information, the enterprise value for the company is $5.25B, which is based on a 3.10 price-to-earnings ratio, a 0.16 price-to-earnings-growth ratio, and a beta of 1.27. The fifty day moving average price for CRK is $11.86 and a two-hundred day moving average price translates $11.60 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 32.98% and return on equity was 53.79% 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 $355.14M 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 $0.25 dividend and a 2.32% 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 3.04%.
Comstock Resources Inc.(CRK) Company Profile
Comstock Resources, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. The company was incorporated in 1919 and is based in Frisco, Texas.
