Comstock Resources Inc. (NYSE: CRK) stock fell -0.86% on Wednesday to $10.42 against a previous-day closing price of $10.51. With 3.53 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.24 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $10.57 whereas the lowest price it dropped to was $10.15. The 52-week range on CRK shows that it touched its highest point at $22.11 and its lowest point at $9.20 during that stretch. It currently has a 1-year price target of $13.45. With its current market cap of 2.95 billion, CRK has annualized dividend of $0.50 while the current yield stands at 4.80%. Beta for the stock currently stands at 1.16.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CRK was up-trending over the past week, with a rise of 7.31%, but this was down by -4.05% over a month. Three-month performance dropped to -13.09% while six-month performance fell -43.28%. The stock lost -38.49% in the past year, while it has lost -24.00% so far this year. A look at the trailing 12-month EPS for CRK yields 4.11 with Next year EPS estimates of 1.84. For the next quarter, that number is 0.09. This implies an EPS growth rate of 467.40% for this year and 103.31% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 19.70%.
Float and Shares Shorts:
At present, 276.55 million CRK shares are outstanding with a float of 124.85 million shares on hand for trading. On May 14, 2023, short shares totaled 21.16 million, which was 7.62% higher than short shares on Apr 13, 2023. In addition to Mr. Miles Jay Allison as the firm’s Chairman of Directors & CEO, Mr. Roland O. Burns serves as its Pres, CFO, Sec. & Director.
Institutional Ownership:
Through their ownership of 33.05% of CRK’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 40.59% of CRK, in contrast to 21.05% held by mutual funds. Shares owned by individuals account for 12.27%. As the largest shareholder in CRK with 4.79% of the stake, BlackRock Fund Advisors holds 13,282,916 shares worth 13,282,916. A second-largest stockholder of CRK, The Vanguard Group, Inc., holds 10,833,177 shares, controlling over 3.90% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in CRK, holding 10,279,079 shares or 3.70% stake. With a 2.67% stake in CRK, the SPDR S&P Oil & Gas Exploration & is the largest stakeholder. A total of 7,404,736 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 2.39% of CRK stock, is the second-largest Mutual Fund holder. It holds 6,627,955 shares valued at 76.22 million. Pacer Fds. Tr. – US Small Cap Cas holds 1.38% of the stake in CRK, owning 3,830,058 shares worth 44.05 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CRK reported revenue of $946.25M and operating income of $649.10M. The EBITDA in the recently reported quarter was $768.48M and diluted EPS was $1.36.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CRK since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CRK analysts setting a high price target of $22.00 and a low target of $9.00, the average target price over the next 12 months is $13.29. Based on these targets, CRK could surge 111.13% to reach the target high and fall by -13.63% to reach the target low. Reaching the average price target will result in a growth of 27.54% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CRK stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 45,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 1,140,508 while 142,697 shares were sold.
