Investing in Comstock Resources Inc. (CRK): What You Must Know


Comstock Resources Inc.’s recent filing unveils that its Director TURNER JIM L acquired Company’s shares for reported $0.21 million on Dec 22. In the deal valued at $13.91 per share,15,000 shares were bought. As a result of this transaction, TURNER JIM L now holds 280,805 shares worth roughly $ 3.6 million.

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Then, FOSTER MORRIS E bought 14,025 shares, generating $200,978 in total proceeds. Upon buying the shares at $14.33, the Director now owns 176,109 shares.

Before that, FOSTER MORRIS E bought 10,000 shares. Comstock Resources Inc. shares valued at $160,600 were divested by the Director at a price of $16.06 per share. As a result of the transaction, FOSTER MORRIS E now holds 162,084 shares, worth roughly $2.08 million.

Mizuho downgraded its Comstock Resources Inc. [CRK] rating to a Neutral from a a Buy in a research note published on Friday, January 10, 2023; the price target was decreased to $17 from $21. PT values the company’s stock at a premium of 24.65 to its Friday closing price. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who decreased its forecast for the stock in early January from “an Overweight” to “a Sector weight”. Citigroup also remained covering CRK and has decreased its forecast on December 07, 2022 with a “Sell” recommendation from previously “Buy” rating. Tudor Pickering Holt & Co. started covering the stock on November 16, 2022. It rated CRK as “a Hold”.

Price Performance Review of CRK

On Friday, Comstock Resources Inc. [NYSE:CRK] saw its stock jump 6.84% to $12.81. On the same session, the stock had its day’s lowest price of $11.765, but rose to a high of $12.825. Over the last five days, the stock has lost -2.21%. Comstock Resources Inc. shares have fallen nearly -6.56% since the year began. Nevertheless, the stocks have risen 65.93% over the past one year. While a 52-week high of $22.11 was reached on 01/17/23, a 52-week low of $7.62 was recorded on 02/21/23. SMA at 50 days reached $12.92, while 200 days put it at $15.99. A total of 8.95 million shares were traded, compared to the trading of 4.79 million shares in the previous session.

Levels Of Support And Resistance For CRK Stock

The 24-hour chart illustrates a support level at 12.11, which if violated will result in even more drops to 11.41. On the upside, there is a resistance level at 13.17. A further resistance level may holdings at 13.53. The Relative Strength Index (RSI) on the 14-day chart is 53.44, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 30.34%. Stochastics %K at 41.65% indicates the stock is a holding.

How much short interest is there in Comstock Resources Inc.?

A steep rise in short interest was recorded in Comstock Resources Inc. stocks on Jan 30, 2023, dropping by -0.17 million shares to a total of 18.63 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 18.8 million shares. There was a decline of -0.91%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 20.30% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.78.

Comstock Resources Inc. [CRK] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 9,753,448 shares, or roughly 4.17% of the outstanding CRK shares. In other words, the investor’s shares have risen by 229,959 from its previous 13-F filing of 9523489.0. Additionally, SSgA Funds Management, Inc. increased 34.92% of its stake after which the total value it holdings stand at $104,720,984, while BlackRock Fund Advisors added 2.35% of its stake to hold $69.21 million in the firm. Over the last quarter, Dimensional Fund Advisors LP sold -904,807 shares of Comstock Resources Inc., while D. E. Shaw & Co. LP sold 51,891 shares. At present, KGH Ltd. is holding 4,619,854 shares valued at $56.13 million. Millennium Management LLC owned 2,864,944 shares of the company at the time of its most recent 13F filing, worth $34.81 million.

According to FactSet, Comstock Resources Inc.’s share price will average $15.29 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.76 percent from its previous closing price of $11.99. Analysts expect Comstock Resources Inc. stock to reach the higher price of $21.00, while the lowest price estimate is $10.00. However, 13 analysts have rated CRK stock as a Hold in their predictions for 2023. The most recent change occurred on September 20, 2022 when KeyBanc Capital Markets began covering the stock and recommended ‘”an Overweight”‘ rating along with a $26 price target.


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