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Comstock Resources (CRK)

Comstock Resources is a leading independent natural gas producer with operations focused on the development of the Haynesville Shale in North Louisiana and East Texas.

Company profile

Ticker
CRK
Exchange
CEO
M. Jay Allison
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Comstock Oil & Gas, LLC • Comstock Oil & Gas – Louisiana, LLC • Comstock Oil & Gas – Louisiana Holdings, LLC • Covey Park Employment Management Services, LLC • Covey Park Management Services Company • (1)100% owned by Comstock Oil & Gas, LLC ...
IRS number
941667468

CRK stock data

Analyst ratings and price targets

Last 3 months

Calendar

4 Aug 22
20 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Aug 22 McGough Patrick Common Stock Buy Acquire P No No 14.86 28,800 427.97K 92,190
16 Jun 22 Harrison Daniel S Common Stock Grant Acquire A No No 0 28,750 0 376,879
14 Jun 22 Allison M Jay Common Stock Grant Acquire A No No 0 78,571 0 1,395,212
14 Jun 22 Terry David John Common Stock Grant Acquire A No No 0 13,601 0 112,012
14 Jun 22 McGough Patrick Common Stock Grant Acquire A No No 0 7,619 0 63,390
13F holders Current Prev Q Change
Total holders 210 193 +8.8%
Opened positions 52 42 +23.8%
Closed positions 35 31 +12.9%
Increased positions 57 62 -8.1%
Reduced positions 70 60 +16.7%
13F shares Current Prev Q Change
Total value 2.14B 2.15B -0.5%
Total shares 270.74M 266.34M +1.7%
Total puts 681.5K 438K +55.6%
Total calls 1.88M 1.28M +46.7%
Total put/call ratio 0.4 0.3 +6.0%
Largest owners Shares Value Change
Jones Jerral W. 182.32M $1.13B 0.0%
Covey Park 10.01M $62.58M 0.0%
STT State Street 7.26M $87.64M -16.9%
Vanguard 7.17M $86.67M -0.7%
BLK Blackrock 6.27M $75.78M -11.4%
Dimensional Fund Advisors 5.61M $67.85M +7.6%
D. E. Shaw & Co. 4.13M $49.94M +3.3%
Key 3.58M $43.28M NEW
Two Sigma Investments 2.95M $35.61M +26.6%
BK Bank Of New York Mellon 2.54M $30.71M -44.3%
Largest transactions Shares Bought/sold Change
Key 3.58M +3.58M NEW
BK Bank Of New York Mellon 2.54M -2.02M -44.3%
Marshall Wace 1.79M +1.76M +7399.8%
STT State Street 7.26M -1.47M -16.9%
Two Sigma Advisers 1.47M +1.17M +384.0%
Cubist Systematic Strategies 1.07M +888.11K +485.5%
BMO Bank of Montreal 873.54K +858.28K +5625.1%
Citadel Advisors 998.53K +803.41K +411.7%
BLK Blackrock 6.27M -803.3K -11.4%
Amundi 754.25K +754.25K NEW

Financial report summary

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Risks
  • An extended period of depressed oil and natural gas prices would adversely affect our business, financial condition, cash flow, liquidity, results of operations and our ability to meet our capital expenditure obligations and financial commitments.
  • Our future production and revenues depend on our ability to replace our reserves.
  • Our hedging transactions could result in financial losses or could reduce our income. To the extent we have hedged a significant portion of our expected production and our actual production is lower than we expected or the costs of goods and services increase, our profitability would be adversely affected.
  • Our operations may incur substantial liabilities due to compliance with environmental laws and regulations.
  • We may be subject to physical and financial risks associated with climate change.
  • Increasing scrutiny and changing expectations from stakeholders with respect to our environmental, social and governance practices may impose additional costs on us or expose us to new or additional risks.
  • We pursue acquisitions as part of our growth strategy and there are risks associated with such acquisitions.
  • Market conditions or operational impediments may hinder our access to natural gas markets or delay our production.
  • Our debt service requirements could adversely affect our operations and limit our growth.
  • Prospects that we decide to drill may not yield natural gas in commercially viable quantities or quantities sufficient to meet our targeted rate of return and firm transportation commitments.
  • Our business involves many uncertainties and operating risks that can prevent us from realizing profits and can cause substantial losses.
  • Loss of our information and computer systems could adversely affect our business.
  • Our business could be negatively impacted by security threats, including cyber-security threats and other disruptions.
  • We are subject to extensive governmental laws and regulations that may adversely affect the cost, manner or feasibility of doing business.
  • The widespread outbreak of an illness, pandemic or any other public health crisis may have material adverse effects on our business, financial position, results of operations and/or cash flows.
Management Discussion
  • Oil and gas sales.  Oil and gas sales of $1.9 billion in 2021 increased $992.5 million or 116% over oil and gas sales in 2020 of $858.2 million. The increase is due to a 9% increase in our natural gas production along with a 99% increase in realized oil and natural gas prices in 2021. Our 2021 natural gas production was 489.3 billion cubic feet ("Bcf") (1.3 Bcf per day), which was sold at an average price of $3.63 per Mcf as compared to 450.8 Bcf (1.2 Bcf per day) sold at an average price of $1.80 in 2020. Our 2021 oil production was 1.2 MMBbls (3,315 Bbls per day), which was sold at an average price of $61.95 per Bbl as compared to 1.5 MMBbls (4,120 Bbls per day) sold at an average price of $32.36 per Bbl in 2020.

Content analysis

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H.S. sophomore Avg
New words: allocated, deep, developmental, East, extinguishment, fracturing, fulfilled, high, hydraulic, mile, note, pipeline, plant, resale, treating, unaffiliated, unamortized, undeveloped
Removed: accrue, evaluated, leasehold, mature, offering, payable, placement, September