Comstock Resources Inc. (NYSE:CRK) price on Thursday, August 26, fall -1.49% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $5.29.
A look at the stock’s price movement, the level at last check in today’s session was $5.37, moving within a range at $5.27 and $5.425. The beta value (5-Year monthly) was 1.80. Turning to its 52-week performance, $6.95 and $4.24 were the 52-week high and 52-week low respectively. Overall, CRK moved -12.25% over the past month.
Comstock Resources Inc.’s market cap currently stands at around $1.23 billion, with investors looking forward to this quarter’s earnings report slated for Nov 02, 2021 – Nov 08, 2021. Analysts project the company’s earnings per share (EPS) to be $0.17, which has seen fiscal year 2021 EPS growth forecast to increase to $1.02 and about $1.32 for fiscal year 2022. Per the data, EPS growth is expected to be 343.50% for 2021 and 29.40% for the next financial year.
Analysts have a consensus estimate of $317.03 million for the company’s revenue for the quarter, with a low and high estimate of $293.2 million and $344 million respectively. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $1.4 billion, representing a 62.70% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that CRK is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
12 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 4 recommend CRK as a Buy and 2 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CRK’s current price about -6.94% and -12.44% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 37.84, while 7-day volatility ratio is 3.61% and 4.19% in the 30-day chart. Further, Comstock Resources Inc. (CRK) has a beta value of 1.75, and an average true range (ATR) of 0.24. Analysts have given the company’s stock an average 52-week price target of $8.44, forecast between a low of $6.00 and high of $12.00. Looking at the price targets, the low is -13.42% off recent price level in today’s trading while to achieve the yearly target high, it has to move -126.84%. Nonetheless, investors will most likely welcome a -53.12% jump to $8.10 which is the analysts’ median price.
In the market, a comparison of Comstock Resources Inc. (CRK) and its peers suggest the former has performed considerably weaker. Data shows CRK’s intraday price has changed -1.49% today and -12.40% over the past year. Comparatively, Marathon Oil Corporation (MRO) has moved -1.95% so far today and only 114.94% in the past 12 months. Looking at another peer, we see that Cimarex Energy Co. (XEC) price has dipped -1.30% on the day. However, the stock is 115.20% off its price today a year ago. Moreover, Pioneer Natural Resources Company (PXD) is also down -1.21% in today’s trading while keeping a an uptrend of 39.50% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.34% and -0.16% respectively on the day as seen in early trades.
If we refocus on Comstock Resources Inc. (NYSE:CRK), historical trading data shows that trading volumes averaged 2.32 million over the past 10 days and 2.85 million over the past 3 months. The company’s latest data on shares outstanding shows there are 231.43 million shares.
The 0.60% of Comstock Resources Inc.’s shares are in the hands of company insiders while institutional holders own 29.50% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 7.98 million on Jun 14, 2021, giving us a short ratio of 2.54. The data shows that as of Jun 14, 2021 short interest in Comstock Resources Inc. (CRK) stood at 3.44% of shares outstanding, with shares short rising to 6.43 million registered in May 13, 2021. Current price change has pushed the stock 22.88% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CRK stock continues to rise going into the next quarter.