Comstock Rscs Stock Price, News & Analysis

Comstock Resources reported record financial results for Q3 2022, achieving an operating cash flow of $533 million and free cash flow of $286 million. The company retired $250 million in debt, reducing leverage to under 1x. Adjusted net income was $326 million, equating to $1.18 per diluted share, with revenues reaching $692 million—76% higher than Q3 2021. The Board reinstated a quarterly dividend of $0.125 per share, the first since 2014, payable on December 15, 2022. Comstock's drilling program in the Haynesville shale contributed significantly, with 17 wells turned to sales averaging 29 MMcf per day.

Comstock Resources, Inc. (NYSE: CRK) has reinstated a quarterly cash dividend for Q4 2022, setting it at an annual rate of $0.50 per share. Stockholders will receive $0.125 per share, with payment scheduled for December 15, 2022, to those on record as of December 1, 2022. This move reflects the company's confidence in its financial health and commitment to returning value to shareholders.

Comstock Resources, Inc. (NYSE:CRK) has announced a rescheduling of its third quarter 2022 earnings release and conference call. The earnings report will be released on November 1, 2022, after the market closes, and the conference call will take place at 9:00 a.m. CT on November 2, 2022. Interested parties can register for the call to receive dial-in details. A replay of the call will be available starting at 12:00 p.m. CT on the same day. The company focuses on natural gas production primarily in the Haynesville Shale region.

Comstock Resources (NYSE: CRK) will release its third quarter 2022 financial results on November 8, 2022, after market close. A conference call to discuss these results is scheduled for November 9, 2022, at 10:00 a.m. CT. Interested participants must register in advance to receive the call-in details. The call will also be available via live webcast. A replay of the call will be accessible for twelve months starting from the broadcast.

Comstock is recognized as a leading independent natural gas producer, primarily operating in the Haynesville Shale region.

Comstock Resources (CRK) reported strong second-quarter results for 2022, generating $190 million in free cash flow. The company retired $271 million in senior notes, reducing its annualized leverage ratio to 1.2x. Adjusted net income was $274 million or $1.00 per diluted share, a significant increase in EBITDAX by 105% to $515 million. Oil and gas sales surged 86% year-over-year to $604 million. The company also completed a strategic acquisition and achieved certification for natural gas production under MiQ standards.

Comstock Resources, Inc. (NYSE:CRK) is set to release its second quarter 2022 results on August 1, 2022 after market close. A conference call will follow on August 2, 2022 at 10:00 a.m. CT to discuss the results. Interested participants must register via the provided link to receive the dial-in number. The call will also be accessible in listen-only mode on the company's website. A replay will be available for twelve months post-call. Comstock Resources is recognized for its natural gas production, particularly in the Haynesville Shale region.

Comstock Resources reported strong financial results for Q1 2022, generating free cash flow of $68 million and reducing debt by $85 million.

Adjusted EBITDAX rose by 27% to $333 million, with revenues reaching $408 million, a 23% increase year-over-year. Operating cash flow surged 44%, amounting to $297 million or $1.07 per diluted share. Despite a reported net loss of $115.7 million due to hedging losses, adjusted net income was $136 million or $0.51 per diluted share. Comstock turned 33 new wells to sales with an average production of 29 MMcf per day.

Comstock Resources (CRK) has announced the early redemption of its 7.50% Senior Notes due 2025, with an outstanding amount of $244.4 million. The total redemption price will be approximately $249.0 million, payable on May 15, 2022, including accrued interest. The redemption will be funded using cash on hand and borrowings from its revolving credit facility. Notices of redemption are being sent to all registered holders of the notes.

Comstock Resources (NYSE:CRK) will release its first quarter 2022 results on May 3, 2022, after market close. A conference call is set for 10:00 a.m. CT on May 4, 2022. Interested parties can join by dialing 844-776-7840 or 661-378-9538 for international calls. The conference call will also be accessible via a live broadcast on the company’s website. A replay will be available from 1:00 p.m. CT on May 4 until 1:00 p.m. CT on May 11.