What just happened? Comstock Resources, Inc. (NYSE:CRK) stock value has plummeted by nearly -3.6% or (-0.27 points) to $7.24 from its previous close of $7.51. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 165080 contracts so far this session. CRK shares had a relatively better volume day versus average trading capacity of 485.31 thousand shares, but with a 18.79 million float and a -6.36% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CRK stock indicates that the average analyst price target is $8.13 per share. This means the stock has a potential increase of 12.29% from where the CRK share price has been trading recently.
During the recent trading session for Comstock Resources, Inc. (NYSE:CRK), the company witnessed their stock drop by $-0.64 over a week and surge $0.52 from the price 20 days ago. When compared to their established 52-week high of $10.7, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 09/16/19. The recent low of $4.17 stood for a -32.33% since 06/06/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.2 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Comstock Resources, Inc., the two-week RSI stands at 45.82. This figure suggests that CRK stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CRK readings is similarly very revealing as it has a stochastic reading of 11.74% at this stage. This figure means that CRK share price today is being overbought.
Technical chart claims that Comstock Resources, Inc. (CRK) would settle between $7.61/share to $7.72/share level. However, if the stock price goes below the $7.4 mark, then the market for Comstock Resources, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $7.3 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.34. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at MKM Partners, assumed coverage of CRK assigning Neutral rating, according to their opinion released on December 19. SunTrust, analysts launched coverage of Comstock Resources, Inc. (NYSE:CRK) stock with a Buy recommendation, according to their flash note issued to investors on December 18. Analysts at Seaport Global Securities lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to October 10.
CRK equity has an average rating of 2.31, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Comstock Resources, Inc. (NYSE:CRK) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CRK stock price is currently trading at 9.1X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 15.8. Comstock Resources, Inc. current P/B ratio of 1.3 means it is trading at a premium against its industry’s 1.3.
Comstock Resources, Inc. (CRK)’s current-quarter revenues are projected to climb by nearly 100.6% to hit $307850, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 106.3% from $390250 to a noteworthy $805260. At the other end of the current quarter income statement, Comstock Resources, Inc. is expected to see its adjusted earnings surge by roughly -31.4% to hit $0.24 per share. For the fiscal year, CRK’s earnings are projected to climb by roughly 174.3% to hit $0.75 per share.