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Comstock Resources has low production costs, but there are other factors to consider when investing in the company. Operating costs for the company are among the best in the industry. But drilling and completion costs more than offset that advantage. Competitors with higher production volume or higher value production may be more profitable in the long run.
Comstock is now projected to end up with a modest amount of positive cash flow in 2024 after dividends. CRK's value is estimated at $12.75 at long-term $3.75 NYMEX gas and $14.75 at long-term $4.00 NYMEX gas. Overall, natural gas supply growth has been relatively flat and may start declining.
FRISCO, TX, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) plans to release third quarter 2023 results on October 30, 2023 after the market closes and host its quarterly conference call at 10:00 a.m. CT on October 31, 2023 to discuss the third quarter results.
Comstock Resources is a natural gas exploration and production company focused on the Haynesville shale region. The company's breakeven costs are low, with all-in break-even prices at $2.17 per MMbtu in 1H 2023. Natural gas prices are expected to have a floor around $3 per MMbtu, providing potential for stronger margins in the future.
Although the revenue and EPS for Comstock (CRK) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Comstock Resources (CRK) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.05. This compares to earnings of $1 per share a year ago.
COMSTOCK RESOURCES, INC. ANNOUNCES SECOND QUARTER 2023 EARNINGS DATE AND CONFERENCE CALL INFORMATION
FRISCO, TX, July 05, 2023 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) plans to release second quarter 2023 results on July 31, 2023 after the market closes and host its quarterly conference call at 10:00 a.m. CT on August 1, 2023 to discuss the second quarter results.
Comstock Resources, Inc. has struggled over the past 8 months as gas prices have declined. We think that period is coming to an end and better gas prices will boost Comstock stock. Investors looking for growth and income may want to consider Comstock Resources stock.
Natural gas prices have plunged in 2023.
With natural gas prices depreciating significantly in 2023, we advise focusing on fundamentally sound companies like CHK and LNG.