Company profile

Ticker
CRK
Exchange
CEO
M. Jay Allison
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
941667468

CRK stock data

(
)

Calendar

7 May 20
8 Aug 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 225.88M 289.25M 224.44M 128.12M
Net income 42.03M 55.12M 6.79M 21.41M
Diluted EPS 0.15 0.19 -0.01 0.2
Net profit margin 18.61% 19.05% 3.03% 16.71%
Operating income 44.02M 101.68M 76.36M 43.62M
Net change in cash -3.01M -34.71M 6.5M 17.42M
Cash on hand 15.53M 18.53M 53.24M 46.75M
Annual (USD) Dec 19 Dec 17 Dec 16 Dec 15
Revenue 768.69M 255.33M 175.71M
Net income 96.89M -111.41M -135.13M -1.05B
Diluted EPS 0.52 -7.61 -11.52 -113.53
Net profit margin 12.60% -43.63% -76.91%
Operating income 274.89M -183K -183.79M -1.17B
Net change in cash -42.72M -4.65M -68.1M 131.94M
Cash on hand 18.53M 61.26M 65.9M 134.01M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
3 Jun 20 Davis Elizabeth B Common Stock Grant Aquire A No 0 23,234 0 93,432
3 Jun 20 Foster Morris E Common Stock Grant Aquire A No 0 23,234 0 87,983
3 Jun 20 Jacobi John David Common Stock Grant Aquire A No 0 23,234 0 45,920
3 Jun 20 Turner Jim L Common Stock Grant Aquire A No 0 23,234 0 187,704
3 Jun 20 Harrison Daniel S Common Stock Grant Aquire A No 0 85,502 0 291,885
2.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 74 77 -3.9%
Opened positions 18 20 -10.0%
Closed positions 21 22 -4.5%
Increased positions 24 22 +9.1%
Reduced positions 19 20 -5.0%
13F shares
Current Prev Q Change
Total value 58.39M 83.58M -30.1%
Total shares 5.99M 5.56M +7.7%
Total puts 177.5K 210.5K -15.7%
Total calls 272.7K 153.2K +78.0%
Total put/call ratio 0.7 1.4 -52.6%
Largest owners
Shares Value Change
BLK BlackRock 1.13M $6.11M -2.3%
Bridgeway Capital Management 933.3K $5.03M +84.2%
ACR Alpine Capital Research 433.05K $2.33M +6.8%
Arosa Capital Management 344.7K $1.86M +130.9%
Vanguard 335.5K $1.81M +4.2%
Mariner 299.59K $1.62M +0.0%
NTRS Northern Trust 281.81K $1.52M -1.2%
STT State Street 254.02K $1.37M +12.5%
BK Bank of New York Mellon 227.06K $1.22M -9.7%
Geode Capital Management 217.24K $1.17M +0.3%
Largest transactions
Shares Bought/sold Change
Bridgeway Capital Management 933.3K +426.5K +84.2%
Arosa Capital Management 344.7K +195.43K +130.9%
Arrowstreet Capital, Limited Partnership 0 -136.99K EXIT
Advisor 0 -126.72K EXIT
Advisor 126.55K +126.55K NEW
California Public Employees Retirement System 32K -76.1K -70.4%
JS Capital Management 0 -55.5K EXIT
Millennium Management 136.55K +54.23K +65.9%
Hodges Capital Management 0 -50K EXIT
HITE Hedge Asset Management 48.13K +48.13K NEW

Financial report summary

?
Risks
  • An extended period of depressed oil and natural gas prices will 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 debt service requirements could adversely affect our operations and limit our growth.
  • Our future production and revenues depend on our ability to replace our reserves.
  • Prospects that we decide to drill may not yield oil or 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.
  • We operate in a highly competitive industry, and our failure to remain competitive with our competitors, many of which have greater resources than we do, could adversely affect our results of operations.
  • If oil and natural gas prices decline further or continue to remain low for an extended period of time, we may be required to further write-down the carrying values and/or the estimates of total reserves of our oil and natural gas properties, which would constitute a non-cash charge to earnings and adversely affect our results of operations.
  • Our reserve estimates depend on many assumptions that may turn out to be inaccurate. Any material inaccuracies in our reserve estimates or underlying assumptions will materially affect the quantities and present value of our reserves.
  • Some of our undeveloped leasehold acreage is subject to leases that will expire unless production is established on units containing the acreage.
  • We pursue acquisitions as part of our growth strategy and there are risks associated with such acquisitions.
  • If we are unsuccessful at marketing our oil and natural gas at commercially acceptable prices, our profitability may decline.
  • We are subject to extensive governmental laws and regulations that may adversely affect the cost, manner or feasibility of doing business.
  • Federal and state legislation and regulatory initiatives relating to hydraulic fracturing could result in increased costs and additional operating restrictions or delays as well as restrict our access to our oil and gas reserves.
  • Issuance of our common stock in connection with the conversion of our outstanding convertible preferred stock would cause substantial dilution, which could materially affect the trading price of our common stock and earnings per share.
  • Our access to capital markets may be limited in the future.
  • Changes in taxation as well as the inherent difficulty in quantifying potential tax effects of business decisions could have a material adverse effect on our results of operations, financial condition, or cash flows.
  • 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 exposed to the credit risk of our customers and counterparties, and our credit risk management may not be adequate to protect against such risk.
  • Substantial exploration and development activities could require significant outside capital, which could dilute the value of our common shares and restrict our activities. Also, we may not be able to obtain needed capital or financing on satisfactory terms, which could lead to a limitation of our future business opportunities and a decline in our oil and natural gas reserves.
  • We depend on our key personnel and the loss of any of these individuals could have a material adverse effect on our operations.
  • Our insurance coverage may not be sufficient or may not be available to cover some liabilities or losses that we may incur.
Management Discussion
  • Oil and natural gas sales of $225.9 million increased 78% in the first quarter of 2020 as compared to the first quarter of 2019.  Our natural gas production for the first three months of 2020 was 122.8 Bcf (1.3 Bcf per day) was sold at an average price of $1.69 per Mcf as compared to 33.1 Bcf (0.4 Bcf per day) sold at an average price of $2.72 per Mcf, in the first quarter of 2019.  Oil production of 454 Mbbls (4,994 barrels per day) was sold at an average price of $41.01 per barrel as compared to 810 Mbbls (9,005 barrels per day) sold at an average price of $45.34 per barrel.  
  • Our production taxes decreased $0.3 million (6%) to $5.6 million for the first quarter of 2020 from $5.9 million in the first quarter of 2019 mainly due to the lower oil and natural gas prices and the lower oil production which has a higher rate than our natural gas production.
  • Gathering and transportation costs for the first quarter of 2020 increased $21.0 million (282%) to $28.4 million as compared to $7.4 million in the first quarter of 2019. The increase primarily related to the increase in our natural gas production resulting from the Covey Park acquisition and our drilling activities.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: accreted, announced, approach, began, broker, CECL, China, contractual, created, critical, decline, disrupt, disrupted, disruption, earlier, economy, experience, Exploratory, found, fourth, frame, governmental, growth, health, immaterial, implement, improved, Intermediate, joint, low, lower, matter, Organization, outbreak, pandemic, personnel, Petroleum, posted, predetermined, pronounced, quickly, reconciliation, Redetermination, resume, service, sharply, shut, spread, storage, strain, surfaced, swaption, travel, unearned, unevaluated, West, widespread, World
Removed: acre, allocation, annually, applicable, applied, applying, area, Arkoma, Atascosa, Bakken, basin, black, businessman, Caddo, carryback, children, comparability, composition, consummated, contingently, controlled, controlling, criteria, Dakota, deduction, derived, direct, division, Eagle, elimination, enactment, exercisable, exercised, exist, existence, expand, expedient, expired, exploit, finalized, Ford, Frio, Group, guidance, Jerry, key, lack, LaSalle, leasing, lifting, line, mature, maturity, McMullen, meet, met, methodology, MMcf, modified, Montana, opening, opportunity, Parish, payable, practical, preliminary, presenting, producing, pushdown, pushed, reference, refinancing, retained, retire, retrospective, revised, short, South, twelve, undeveloped, unsecured, voting, wholly, Williston, Wilson