BlackRock Fund Advisors has recently announced that it has increased stake in Comstock Resources, Inc. (NYSE:CRK) by 2.39%. After grabbing 13.89 million shares, the institutional investor is now in possession of 0.32 million shares of the Energy Company. The new investment brought the stake of investor firm to 4.99% having worth around $137.1 million. Moreover, KGH Ltd. increased its share by 4.67 million to have a control over 8.59 million shares. And Dimensional Fund Advisors LP raised its holdings to 1.58 million shares by acquiring 6.31 million shares or 2.27% of the stake.
Comstock Resources, Inc. (CRK) concluded trading on 12/28/23 at a closing price of $8.93, with 2.98 million shares of worth about $26.63 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -23.28% during that period and on Thursday the price saw a loss of about -1.65%. Currently the company’s common shares owned by public are about 277.52M shares, out of which, 90.97M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the CRK stock and their offered price forecasts bring an average price target of $11.98. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $15.00 and could fall to a lowest price of $8.00. The stock’s current price level is 25.46% above of average price target set by the analysts, while a rise to estimated low would result in loss of -11.62% for the stock. However, touching the estimated high of $15.00 would mean a gain of 40.47% 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 52 times over the past 12 months. They bought 911,266 shares in 26 of the transactions. In 26 selling transactions, insiders dumped 168,484 shares.
iShares Core S&P Small Cap ETF, SPDR S&P Oil & Gas Exploration &, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Comstock Resources, Inc. iShares Core S&P Small Cap ETF is currently holding 6.16 million shares of worth totaling $60.8 million. The company recently came buying 3414.0 shares which brought its stake up to 2.21% of the company’s outstanding shares. Vanguard Total Stock Market ETF, after buying 3.14 million shares, have now control over 1.13% of the stake in the company. It holds 0.0 shares of worth $30.96 million.
Comstock Resources, Inc. (NYSE: CRK) started trading at $9.09, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 9.19, or with a loss of -1.65%. Stock saw a price change of 2.76% in past 5 days and over the past one month there was a price change of -12.79%. Year-to-date (YTD), CRK shares are showing a performance of -34.87% which decreased to -38.71% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $8.29 but also hit the highest price of $14.27 during that period. The average intraday trading volume for Comstock Resources, Inc. shares is 3.81 million. The stock is currently trading -2.46% below its 20-day simple moving average (SMA20), while that difference is down -16.49% for SMA50 and it goes to -18.74% lower than SMA200.
BlackRock Fund Advisors acquired 13.89 million shares of Comstock Resources, Inc. having value of about $137.1 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.32 million shares in the company valued at close to $2890810.67, or have control over 2.39% stake in the company. Comstock Resources, Inc. (NYSE: CRK) currently have 277.52M outstanding shares and institutions hold larger chunk of about 34.49% of that. Holding of mutual funds in the company is about 19.84% while other institutional holders and individual stake holders have control over 40.75% and 14.90% of the stake respectively.
The stock has a current market capitalization of $2.49B and its 3Y-monthly beta is at 0.81. PE ratio of stock for trailing 12 months is 3.97, while it has posted earnings per share of $2.25 in the same period. Its PEG reads 0.20 and has Quick Ratio of 0.42 while making debt-to-equity ratio of 1.16. 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 3.18% while standing at 4.08% over the month.
Analysts are in expectations that Comstock Resources, Inc. (CRK) stock would likely to be making an EPS of $0.22 in the current quarter, while forecast for next quarter EPS is $0.31 and it is $1.19 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.12 which is $0.3 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 $1.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -84.43% while it is estimated to increase by 100.57% in next year.
Analysts at 15 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 2.87. Out of those 15 Wall Street analysts, 2 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 2 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 Siebert Williams Shank on December 19, 2023 offering a Hold rating for the stock and assigned a target price of $10 to it.
