Comstock Resources Inc (CRK) Releases Earnings Results, Beats Expectations By $3.70 EPS

Comstock Resources Inc (CRK) reported quarterly earnings results on Monday, Aug-1-2016. The company said it had a profit of $0.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $3.70. Analysts had a consensus of $-3.29. The company posted revenue of $40.72 million in the period, compared to analysts expectations of $39.95 million. The company’s revenue was down -47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.11 EPS.

Comstock Resources Inc opened for trading at $0.7249 and hit $0.838 on the upside on Friday, eventually ending the session at $0.8234, with a gain of 14.38% or 0.1035 points. The heightened volatility saw the trading volume jump to 11,76,919 shares. Company has a market cap of $10 M.

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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