At the time of writing, Comstock Resources, Inc. [CRK] stock is trading at $9.28, up 0.22%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The CRK shares have gain 11.00% over the last week, with a monthly amount glided 12.21%, and seem to be holding up well over a long-time horizon.
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On 20, March 2024, COMSTOCK RESOURCES, INC. ANNOUNCES $100.5 MILLION INVESTMENT BY MAJORITY SHAREHOLDER. In a post published today on Yahoo Finance, Comstock Resources, Inc. (“Comstock” or the “Company”) (NYSE: CRK) announces that its majority shareholder, Jerry Jones, has agreed to make an additional $100,450,000 equity investment in the Company through two entities he controls. The Jones entities will acquire 12,500,000 shares of common stock in the private placement at a price of $8.036 per share, which represents the average of the closing prices for the five trading days ended March 20, 2024. Closing of the transaction is subject to customary closing conditions. Following the equity investment, Jerry Jones will own approximately 67% of the Company’s common shares outstanding, up from 65% before this equity investment.
From an analyst’s perspective:
Comstock Resources, Inc. [NYSE: CRK] stock has seen the most recent analyst activity on January 09, 2024, when Pickering Energy Partners upgraded its rating to a Neutral. Previously, Mizuho downgraded its rating to Underperform on January 03, 2024. On December 19, 2023, Siebert Williams Shank initiated with a Hold rating and assigned a price target of $10 on the stock. Johnson Rice downgraded its rating to a Hold. Citigroup upgraded its rating to a Neutral and raised its price target to $12 on April 20, 2023. Mizuho downgraded its rating to Neutral for this stock on January 10, 2023, and downed its price target to $17. In a note dated January 09, 2023, KeyBanc Capital Markets downgraded an Sector Weight rating on this stock.
For the past year, the stock price of Comstock Resources, Inc. fluctuated between $7.07 and $13.39. Currently, Wall Street analysts expect the stock to reach $19 within the next 12 months. Comstock Resources, Inc. [NYSE: CRK] shares were valued at $9.28 at the most recent close of the market. An investor can expect a potential return of 104.74% based on the average CRK price forecast.
Analyzing the CRK fundamentals
According to Comstock Resources, Inc. [NYSE:CRK], the company’s sales were 1.56B for trailing twelve months, which represents an -55.93% plunge. Gross Profit Margin for this corporation currently stands at 0.17% with Operating Profit Margin at 0.14%, Pretax Profit Margin comes in at 0.16%, and Net Profit Margin reading is 0.14%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.09 and Total Capital is 0.04. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.13.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 9.15 points at the first support level, and at 9.01 for the second support level. However, for the 1st resistance point, the stock is sitting at 9.41, and for the 2nd resistance point, it is at 9.53.
Comstock Resources, Inc. [CRK] reported earnings per share of $0.1 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.13/share, meaning a difference of -$0.03 and a surprise factor of -23.10%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.04 per share as compared to estimates of $0.05 per share, a difference of -$0.01 representing a surprise of -20.00%.
Ratios To Look Out For
It is important to note that Comstock Resources, Inc. [NYSE:CRK] has a current ratio of 0.68. Also, the Quick Ratio is 0.68, while the Cash Ratio stands at 0.02. Considering the valuation of this stock, the price to sales ratio is 1.66, the price to book ratio is 1.10 and price to earnings (TTM) ratio is 12.16.
Transactions by insiders
Recent insider trading involved Blue Star Exploration Corp, 10% Owner, that happened on Mar 25 ’24 when 12.5 million shares were purchased.
