Comstock Resources Inc (CRK) Releases Earnings Results, Misses Expectations By $-0.14 EPS

Comstock Resources Inc (CRK) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $-1.14 earnings per share for the quarter, missing the analyst consensus estimate by $-0.14. Analysts had a consensus of $-1.00. The company posted revenue of $37.20 million in the period, compared to analysts expectations of $39.03 million. The company’s revenue was down -44.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.06 EPS.

Many Wall Street Analysts have commented on Comstock Resources Inc. Shares were Downgraded by Imperial Capital on Mar 3, 2016 to ” In-line” and Lowered the Price Target to $ 0.75 from a previous price target of $1.50 .Shares were Reiterated by Imperial Capital on Feb 26, 2016 to “Outperform” and Lowered the Price Target to $ 1.50 from a previous price target of $2.25 .Comstock Resources Inc was Downgraded by Ladenburg Thalmann to ” Neutral” on Feb 12, 2016.

Comstock Resources Inc closed down -0.054 points or -6.63% at $0.7601 with 6,81,139 shares getting traded on Monday. Post opening the session at $0.82, the shares hit an intraday low of $0.7453 and an intraday high of $0.8289 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Dec 23, 2015, Russell W Romoser (VP of Reservoir Engineering) sold 1,000 shares at $1.86 per share price. According to the SEC, on Dec 23, 2015, Daniel K Presley (VP of Accounting) sold 4,000 shares at $1.84 per share price. On Sep 2, 2015, Frederic D Sewell (director) purchased 10,000 shares at $2.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Comstock Resources Inc. is an energy company engaged in the acquisition exploration development and production of oil and natural gas in the United States. The Company’s oil and gas operations are concentrated in Texas and Louisiana. Its operations are focused in two operating areas: East Texas/North Louisiana and South Texas. The Company’s properties in the East Texas/North Louisiana region include approximately 81294 acres in the Haynesville or Bossier shale formations. The Company’s Eagleville field includes approximately 31459 acres located in the oil window of the Eagle Ford shale in South Texas. The Company also has approximately 35322 acres in the oil window of the Eagle Ford shale in or near Burleson County Texas. It has approximately 91208 acres in Mississippi and Louisiana. The Company owns interests in around 1596 producing oil and natural gas wells and operates 962 of these wells.

Comstock Resources Inc

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