Comstock Resources, Inc.’s filing revealed that its 10% Owner Arkoma Drilling, L.P. acquired Company’s shares for reported $11.66 million on Aug 23 ’24. In the deal valued at $11.16 per share,1,044,200 shares were bought. As a result of this transaction, Arkoma Drilling, L.P. now holds 207,627,746 shares worth roughly $2.5 billion.
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Then, Arkoma Drilling, L.P. bought 592,246 shares, generating $6,836,473 in total proceeds. Upon buying the shares at $11.54, the 10% Owner now owns 208,219,992 shares.
Before that, Arkoma Drilling, L.P. bought 80,092 shares. Comstock Resources, Inc. shares valued at $901,035 were divested by the 10% Owner at a price of $11.25 per share. As a result of the transaction, Arkoma Drilling, L.P. now holds 208,300,084 shares, worth roughly $2.51 billion.
Piper Sandler downgraded its Comstock Resources, Inc. [CRK] rating to an Underweight from a a Neutral in a research note published on August 15, 2024; the price target was decreased to $5 from $8. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in mid July with a ‘”a Peer perform”‘ rating. CapitalOne also remained covering CRK and has decreased its forecast on May 15, 2024 with a “an Equal weight” recommendation from previously “an Overweight” rating. Pickering Energy Partners revised its rating on January 09, 2024. It rated CRK as “a Neutral” which previously was an “an Underperform”.
Price Performance Review of CRK
On Friday, Comstock Resources, Inc. [NYSE:CRK] saw its stock jump 0.84% to $12.05. Over the last five days, the stock has gained 8.56%. Comstock Resources, Inc. shares have risen nearly 36.16% since the year began. Nevertheless, the stocks have risen 16.76% over the past one year. While a 52-week high of $13.39 was reached on 06/12/24, a 52-week low of $7.07 was recorded on 02/14/24. SMA at 50 days reached $10.30, while 200 days put it at $9.68.
Levels Of Support And Resistance For CRK Stock
The 24-hour chart illustrates a support level at 11.91, which if violated will result in even more drops to 11.77. On the upside, there is a resistance level at 12.21. A further resistance level may holdings at 12.38. The Relative Strength Index (RSI) on the 14-day chart is 70.68, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.79, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 7.72%. Stochastics %K at 92.40% indicates the stock is a selling.
How much short interest is there in Comstock Resources, Inc.?
A steep rise in short interest was recorded in Comstock Resources, Inc. stocks on 2024-09-13, dropping by -0.52 million shares to a total of 27.18 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 27.71 million shares. There was a decline of -1.92%, which implies that there is a negative sentiment for the stock.
