Comstock Resources Inc (CRK)
Comstock Resources, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in Texas, Louisiana, and North Dakota. The company is headquartered in Frisco, Texas.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 28.97% per annum.
- CRK price at the close of May 14, 2024 was $10.73 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 250.23% per annum.
- CRK price at the close of May 14, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of CRK price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: April 8, 2022
End date: May 3, 2024
a = 3.8272
b = -0.0009
s = 0.1459
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0009) – 1
= -28.97%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1459) – 1
= 79.21%
April 8, 2022 calculations
Top border of price channel:
Exp(Y732)
= Exp(a + b × X732 + 2 × s)
= Exp(a + b × 1,059 + 2 × s)
= Exp(3.8272 + -0.0009 × 1,059 + 2 × 0.1459)
= Exp(3.1265)
= $22.79
Bottom border of price channel:
Exp(Y732)
= Exp(a + b × X732 – 2 × s)
= Exp(a + b × 1,059 – 2 × s)
= Exp(3.8272 + -0.0009 × 1,059 – 2 × 0.1459)
= Exp(2.5431)
= $12.72
May 3, 2024 calculations
Top border of price channel:
Exp(Y1,251)
= Exp(a + b × X1,251 + 2 × s)
= Exp(a + b × 1,815 + 2 × s)
= Exp(3.8272 + -0.0009 × 1,815 + 2 × 0.1459)
= Exp(2.4180)
= $11.22
Bottom border of price channel:
Exp(Y1,251)
= Exp(a + b × X1,251 – 2 × s)
= Exp(a + b × 1,815 – 2 × s)
= Exp(3.8272 + -0.0009 × 1,815 – 2 × 0.1459)
= Exp(1.8346)
= $6.26
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 28.97% per annum.
- CRK price at the close of May 14, 2024 was $10.73 and was inside the primary price channel.
Secondary Trend
Start date: February 1, 2024
End date: May 14, 2024
a = -3.9204
b = 0.0034
s = 0.0348
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0034) – 1
= 250.23%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0348) – 1
= 14.93%
February 1, 2024 calculations
Top border of price channel:
Exp(Y1,187)
= Exp(a + b × X1,187 + 2 × s)
= Exp(a + b × 1,723 + 2 × s)
= Exp(-3.9204 + 0.0034 × 1,723 + 2 × 0.0348)
= Exp(2.0660)
= $7.89
Bottom border of price channel:
Exp(Y1,187)
= Exp(a + b × X1,187 – 2 × s)
= Exp(a + b × 1,723 – 2 × s)
= Exp(-3.9204 + 0.0034 × 1,723 – 2 × 0.0348)
= Exp(1.9269)
= $6.87
May 14, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(-3.9204 + 0.0034 × 1,826 + 2 × 0.0348)
= Exp(2.4197)
= $11.24
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(-3.9204 + 0.0034 × 1,826 – 2 × 0.0348)
= Exp(2.2806)
= $9.78
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 250.23% per annum.
- CRK price at the close of May 14, 2024 was inside the secondary price channel.