Comstock Resources (CRK) Sees 3.76% Increase in Stock Price Ahead of Earnings Release
August 2, 2023
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Comstock Resources ($NYSE:CRK) (CRK) has seen a 3.76% increase in stock price ahead of its upcoming earnings release. This information was revealed by popular stock tracking sites such as Stock Alerts, which is sending out free alerts to its users. Comstock Resources is a midstream energy company based in Frisco, Texas. The firm is engaged in the exploration, development, and production of oil and natural gas. Its operations are located primarily in the Haynesville/Bossier Shale region of East Texas and North Louisiana and the Permian Basin region of West Texas.
The company has seen a steady increase in its stock price in recent weeks, shortly before its upcoming earnings report. Investors are eagerly awaiting the report, which will provide detailed insight into Comstock’s financial performance over the past quarter. With the stock already on the rise, investors are hoping that any positive news from the earnings report can help push the stock price to even greater heights.
Earnings
This came despite the company’s total revenue having decreased 63.7% from 343.69M USD to 179.7M USD, and its net income having dropped 147.7%. Over the past three years, COMSTOCK RESOURCES has seen a decrease in total revenue from 343.69M USD to 288.21M USD. The company’s upcoming earnings report will give insight into how the company has been performing since these drops, and whether it is on track to meet investors’ expectations.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Comstock Resources. More…
| Total Revenues | Net Income | Net Margin |
| 2.89k | 952.6 | 35.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Comstock Resources. More…
| Operations | Investing | Financing |
| 1.73k | -1.1k | -576.72 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Comstock Resources. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.84k | 3.54k | 8.29 |
Key Ratios Snapshot
Some of the financial key ratios for Comstock Resources are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 46.5% | 84.5% | 46.1% |
| FCF Margin | ROE | ROA |
| 40.8% | 35.6% | 14.3% |
Analysis
At GoodWhale, we have conducted a financial analysis of COMSTOCK RESOURCES. Our star chart shows that the company is strong in growth, and medium in asset, dividend, and profitability. It has an intermediate health score of 6/10 considering its cashflows and debt, indicating that it is likely to sustain future operations in times of crisis. We have classified COMSTOCK RESOURCES as a ‘gorilla’ company, which means that it has achieved stable and high revenue or earning growth due to its strong competitive advantage. Investors that may find this company attractive are those looking to capitalize on the long term growth potential of the company, given its favourable financials and competitive position. More…
Peers
Comstock Resources Inc. is an American oil and gas company engaged in the exploration, development, production and acquisition of properties in the United States. The company’s core areas of operation are in the states of Texas and Louisiana. The company’s main competitors are Antero Resources Corp, EQT Corp, and CNX Resources Corp. Comstock Resources Inc. has a market capitalization of $2.6 billion as of February 2018, while its competitors have market capitalizations of $13.4 billion (Antero Resources Corp), $11.5 billion (EQT Corp), and $3.4 billion (CNX Resources Corp), respectively.
– Antero Resources Corp ($NYSE:AR)
Antero Resources is a natural gas and oil company that operates in the Appalachian Basin. The company has a market capitalization of $10.83 billion as of 2022 and a return on equity of 15.98%. Antero Resources is engaged in the exploration, development, and production of natural gas and oil properties in the United States. The company was founded in 2002 and is headquartered in Denver, Colorado.
– EQT Corp ($NYSE:EQT)
EQT Corporation is a publicly traded natural gas and oil exploration and production company with operations in the United States and Canada. The company has a market cap of $14.63 billion as of 2022 and a return on equity of -5.33%. EQT Corporation is one of the largest producers of natural gas in the United States and is headquartered in Pittsburgh, Pennsylvania.
– CNX Resources Corp ($NYSE:CNX)
CNX Resources Corp is a publicly traded natural gas and oil exploration and production company with a market cap of $3.46 billion as of March 2022. The company’s primary operations are in the Appalachian Basin, which includes the Marcellus Shale and Utica Shale plays. CNX Resources was founded in 1987 and is headquartered in Canonsburg, Pennsylvania.
Summary
Comstock Resources (CRK) is a publicly-traded oil and gas company based in Frisco, Texas. This could be attributed to its overall performance over the past quarter, with increased revenue and improved net income. This suggests that the company is on track and well-positioned to perform better in 2021 as it continues to focus on organic growth and increased operational efficiency. Overall, investors have been pleased with Comstock’s progress and confidence in the company’s future growth prospects.
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