BlackRock Fund Advisors recently announced the acquisition of new stake in Comstock Resources, Inc. (NYSE:CRK). The institutional investor has increased its shareholding in the Energy company by 2.39% to 13.89 million shares with purchase of 0.32 million shares. This fresh investment now brings its stake to 4.99% valued currently at $137.1 million. In addition, KGH Ltd. raised its holdings by 4.67 million to 8.59 million shares. And Dimensional Fund Advisors LP has lifted its position by 33.41% or 1.58 million shares – to 6.31 million shares.
With over 6.59 million Comstock Resources, Inc. (CRK) shares trading Tuesday and a closing price of $9.25 on the day, the dollar volume was approximately $61.0 million. The shares have shown a negative half year performance of -22.27% and its price on 01/09/24 gained nearly 3.82%. Currently, there are 277.52M common shares owned by the public and among those 90.98M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for CRK have a consensus price objective of $11.37. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $8.00. The average price target is 18.65% above its recent price level and a downside to the estimated low will see the stock lose -15.62% over that period. But an upside of 38.33% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 52 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 911,266 shares. Insider sales of the common stock occurred on 26 occasions, with total insider shares sold totaling 168,484 shares.
The top 3 mutual fund holders in Comstock Resources, Inc. are iShares Core S&P Small Cap ETF, SPDR S&P Oil & Gas Exploration &, and Vanguard Total Stock Market ETF. iShares Core S&P Small Cap ETF owns 6.16 million shares of the company’s stock, all valued at over $60.8 million. The company bought an additional 3414.0 shares recently to bring their total holdings to about 2.21% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 1.13% of the shares outstanding.
Shares of Comstock Resources, Inc. (NYSE: CRK) opened at $9.07, up $0.16 from a prior closing price of $8.91. However, the script later moved the day high at 9.39, up 3.82%. The company’s stock has a 5-day price change of 3.47% and -24.74% over the past three months. CRK shares are trading 4.52% year to date (YTD), with the 12-month market performance down to -27.05% lower. It has a 12-month low price of $8.29 and touched a high of $13.67 over the same period. CRK has an average intraday trading volume of 3.79 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.09%, -9.28%, and -15.39% respectively.
Institutional ownership of Comstock Resources, Inc. (NYSE: CRK) shares accounts for 34.19% of the company’s 277.52M shares outstanding. Mutual fund holders own 19.88%, while other institutional holders and individual stakeholders account for 40.75% and 14.89% respectively.
It has a market capitalization of $2.58B and a beta (3y monthly) value of 0.71. The stock’s trailing 12-month PE ratio is 4.11, while the earnings-per-share (ttm) stands at $2.25. The company has a PEG of 0.21 and a Quick Ratio of 0.42 with the debt-to-equity ratio at 1.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.71% over the week and 3.95% over the month.
Analysts forecast that Comstock Resources, Inc. (CRK) will achieve an EPS of $0.2 for the current quarter, $0.26 for the next quarter and $1.07 for 2024. The lowest estimate earnings-per-share for the quarter is $0.09 while analysts give the company a high EPS estimate of $0.3. Comparatively, EPS for the current quarter was $1.05 a year ago. Earnings per share for the fiscal year are expected to decrease by -85.07%, and 91.11% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Comstock Resources, Inc. (CRK) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 9 of the 15 advise that investors “hold,” and 1 rated it as a “Sell.”
