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 $3.15 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 $3.16 billion.
BofA Securities initiated its Comstock Resources, Inc [CRK] rating to a Buy in a research note published on October 28, 2024; the price target was $14. A number of analysts have revised their coverage, including Siebert Williams Shank’s analysts, who decreased its forecast for the stock in mid October from “a Hold” to “a Sell”. Piper Sandler also remained covering CRK and has decreased its forecast on August 15, 2024 with a “an Underweight” recommendation from previously “Neutral” rating. Wolfe Research started covering the stock on July 18, 2024. It rated CRK as “a Peer perform”.
Price Performance Review of CRK
On Friday, Comstock Resources, Inc [NYSE:CRK] saw its stock fall -0.46% to $15.16. Over the last five days, the stock has gained 13.39%. Comstock Resources, Inc shares have risen nearly 71.30% since the year began. Nevertheless, the stocks have risen 43.42% over the past one year. While a 52-week high of $15.84 was reached on 11/21/24, a 52-week low of $7.07 was recorded on 02/14/24. SMA at 50 days reached $12.07, while 200 days put it at $10.41.
Levels Of Support And Resistance For CRK Stock
The 24-hour chart illustrates a support level at 14.91, which if violated will result in even more drops to 14.67. On the upside, there is a resistance level at 15.38. A further resistance level may holdings at 15.60. The Relative Strength Index (RSI) on the 14-day chart is 73.26, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.35, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.37%. Stochastics %K at 89.97% 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 2024-10-31, growing by 0.3 million shares to a total of 25.47 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 25.17 million shares. There was a rise of 1.19%, which implies that there is a positive sentiment for the stock.
