The trading price of Comstock Resources, Inc. (NYSE:CRK) floating lower at last check on current market day and closing at $10.27, -6.89% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $10.15 and $11.165. In examining the 52-week price action we see that the stock hit a 52-week high of $13.39 and a 52-week low of $7.07. Over the past month, the stock has gained 0.59% in value.
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Comstock Resources, Inc., whose market valuation is $3.00 billion at the time of this writing, is expected to release its quarterly earnings report in September. The dividend yield on the company stock is 2.43%, while its Forward Dividend ratio is 0.25. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.08 per share this quarter, however they have predicted annual earnings per share of -0.23 for current year and 0.52 for next year.
Analysts have forecast the company to bring in revenue of 351.96M for the current quarter, with the likely lows of 306M and highs of 437M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 1.36B.
On the technical side, indicators suggest CRK has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CRK a recommendation rating is 3. Out of them, 2 rate it a Hold, while 1 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Comstock Resources, Inc. (CRK) as Underweight, while 0 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that CRK’s price is currently 2.04% off the SMA20 and -0.73% off the SMA50. The RSI metric on the 14-day chart is currently showing 47.93, and weekly volatility stands at 3.64%. When measured over the past 30 days, the indicator reaches 4.61%. Comstock Resources, Inc. (NYSE:CRK)’s beta value is currently sitting at 0.48, while the Average True Range indicator is currently displaying 0.49. With analysts defining $5-$11 as the low and high price targets, we arrive at a consensus price target of $9 for the trailing 12-month period. The current price is about 51.31% off the estimated low and -7.11% off the forecast high, based on this estimate. Investors will be thrilled if CRK’s share price rises to $9, which is the median consensus price. At that level, CRK’s share price would be 12.37% above current price.
To see how Comstock Resources, Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: CRK stock’s performance was -6.89% at last check in today’s session, and -12.45% in the past year.
An evaluation of the daily trading volume of Comstock Resources, Inc. (NYSE:CRK) indicates that the 3-month average is 3.42 million. However, this figure has increased over the past 10 days to an average of 3.7.
Currently, records show that 278.43 million of the company’s shares remain outstanding. The insiders hold 72.74% of outstanding shares, whereas institutions hold 34.85%. The stats also highlight that short interest as of 2024-08-15, stood at 27.71 million shares, resulting in a short ratio of 6.78 at that time. From this, we can conclude that short interest is 3026.00 of the company’s total outstanding shares. It is noteworthy that short shares in August were up slightly from the previous month’s figure, which was 22.29 million. However, since the stock’s price has seen 16.04% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
