Comstock Resources Inc. (CRK): Not A Time To Panic Nor Freeze


    After grabbing 3.7 million shares, the institutional investor is now in possession of 3.7 million shares of the Energy Company. The new investment brought the stake of investor firm to 1.60% having worth around $19.83 million. Moreover, Stonehill Capital Management LLC increased its share by 3.3 million to have a control over 3.3 million shares. And Alyeska Investment Group LP raised its holdings to 3.15 million shares by acquiring 3.15 million shares or 1.36% of the stake.

    Comstock Resources Inc. (CRK) concluded trading on 08/26/20 at a closing price of $5.87, with 2.14 million shares of worth about $12.59 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -5.32% during that period and on Wednesday the price saw a loss of about -4.24%. Currently the company’s common shares owned by public are about 208.90M shares, out of which, 61.15M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 10 analysts are covering the CRK stock and their offered price forecasts bring an average price target of $8.42. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $13.00 and could fall to a lowest price of $6.00. Analysts also issued an outlook of 2.00 for the Comstock Resources Inc. stock for next 12 months. The stock’s current price level is 32.91% above of average price target set by the analysts, while a rise to estimated low would result in gain of 2.17 for the stock. However, touching the estimated high of $13.00 would mean a gain of 54.85% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 38 times over the past 12 months. They bought 511,492 shares in 16 of the transactions. In 22 selling transactions, insiders dumped 10,055,475 shares.

    Putnam Multi Cap Core Fund, Bridgeway Omni Small Cap Value Fu, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Comstock Resources Inc. Putnam Multi Cap Core Fund is currently holding 2.75 million shares of worth totaling $14.74 million. The company recently came buying 2.75 million shares which brought its stake up to 1.19% of the company’s outstanding shares. Bridgeway Omni Small Cap Value Fu bought 0.21 million shares, after which its hold over company’s outstanding shares expand to 0.37%, leaving 0.86 million shares with the mutual fund that have a worth of about $4.6 million. Vanguard Extended Market Index Fu, after selling 0.79 million shares, have now control over 0.34% of the stake in the company. It holds 22141.0 shares of worth $4.26 million.

    Comstock Resources Inc. (NYSE: CRK) started trading at $6.21, above $0.08 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $5.87, or with a loss of -4.24%. Stock saw a price change of -5.32% in past 5 days and over the past one month there was a price change of 12.24%. Year-to-date (YTD), CRK shares are showing a performance of -28.68% which increased to 13.98% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.05 but also hit the highest price of $10.70 during that period. While comparing its average daily trading volume of 1.91 million shares, we see that about 2.14 million changed hands on the day. The stock is currently trading -1.89% below its 20-day simple moving average (SMA20), while that difference is up 12.04% for SMA50 and it goes to -2.65% lower than SMA200.

    Adage Capital Management LP acquired 3.7 million shares of Comstock Resources Inc. having value of about $19.83 million. Comstock Resources Inc. (NYSE: CRK) currently have 208.90M outstanding shares and institutions hold larger chunk of about 17.40% of that. Holding of mutual funds in the company is about 3.42% while other institutional holders and individual stake holders have control over 48.04% and 13.99% of the stake respectively.

    The stock has a current market capitalization of $1.35B and its 3Y-monthly beta is at 2.16. It has posted earnings per share of -$0.04 in the same period. It has Quick Ratio of 0.60 while making debt-to-equity ratio of 1.68. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CRK, volatility over the week remained 6.23% while standing at 7.12% over the month.

    Analysts are in expectations that Comstock Resources Inc. (CRK) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter ESPS is $0.11 and it is $0.71 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.09 which is $0.08 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.17 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 239.10% while it is estimated to increase by 209.87% in next year. EPS is likely to grow at an annualized rate of 20.00% for next 5-years, compared to annual growth of 15.60% made by the stock over the past 5-years.

    Analysts at 10 brokerage firms have issued recommendations for the Comstock Resources Inc. (CRK)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 10 Wall Street analysts, 6 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on August 13, 2020 offering a Neutral rating for the stock and assigned a target price of $6 to it. Coverage by Citigroup stated Comstock Resources Inc. (CRK) stock as a Buy in their note to investors on July 21, 2020, suggesting a price target of $8 for the stock. On July 09, 2020, Piper Sandler Initiated their recommendations, while on June 17, 2020, BMO Capital Markets Initiated their ratings for the stock with a price target of $8. Stock get an Overweight rating from CapitalOne on May 18, 2020.


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