Latest news with #CRK
Yahoo
30-05-2025
- Business
- Yahoo
Ride the Clean Energy Demand With These 2 Natural Gas Stocks: ET, CRK
There has been a mounting clean energy demand that drives investors' interest in natural gas stocks. This is because natural gas produces lower emissions than crude oil and coal, while generating an equivalent amount of energy. The rising clean energy demand is also aiding the pricing environment of natural gas, bolstering the outlook of energy players that are engaged in producing, transporting and storing the commodity. Given the backdrop, is this the ideal time to invest in upstream players like Comstock Resources, Inc. CRK and Energy Transfer LP ET? In its latest short-term energy outlook, the U.S. Energy Information Administration ('EIA') forecasted this year's natural gas spot price at $4.10 per million BTU, significantly higher than $2.20 in the past year. Rising exports of LNG from the United States primarily contributed to the commodity prices. The electric power sector also requires more natural gas, aiding the pricing environment. In its first-quarter 2025 earnings transcript, upstream company EQT Corporation (EQT) highlighted the resilience of natural gas demand. EQT noted that during the coronavirus pandemic, industrial usage of natural gas slipped by less than 1 billion cubic feet per day, representing a dip of under 1% of the nation's total natural gas consumption. Natural gas's resilience, which EQT mentioned, was possibly due to the commodity's wide usage starting from heating homes, cooking and producing electricity. With the commodity's pricing environment remaining favorable and natural gas demand staying resilient, upstream energy companies will have incentives to ramp up exploration and production of natural gas to capitalize on the increasing demand for cleaner fossil fuels. With higher production, there will be greater demand for transportation and storage assets of midstream players. Hence, it would be ideal for investors to bet on prospective natural gas producers and midstream players involved in transporting and storing the commodity. Here are two such stocks – CRK and ET – carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. CRK's Growth Potential Backed by Deep Drilling Inventory Being a leading producer of natural gas, Comstock Resources is well-positioned to capitalize on the favorable pricing scenario of the commodity. Importantly, CRK has plenty of places left to drill for natural gas, spreading evenly across two prolific underground zones – Haynesville and Bossier. At the speed they're drilling now, they've got enough future wells lined up to keep them busy for more than three decades. Energy Transfer to Gain on Energy-Hungry Data Centers Energy Transfer stands to benefit significantly from the rapid expansion of energy-hungry data centers across Texas, driven by explosive demand for artificial intelligence (AI), cloud computing and digital services. ET in its first-quarter 2025 earnings transcript mentioned that it is in active discussions with roughly 150 data centers and has already secured a natural gas supply agreement with CloudBurst, a flagship AI-focused data center project. This early traction highlights the partnership's strong competitive position in meeting the next wave of electricity demand. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Comstock Resources, Inc. (CRK) : Free Stock Analysis Report Energy Transfer LP (ET) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
17-05-2025
- Business
- Yahoo
Why Comstock (CRK) Might be Well Poised for a Surge
Comstock Resources (CRK) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company. The upward trend in estimate revisions for this oil and gas company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. For Comstock, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year. The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate: The company is expected to earn $0.16 per share for the current quarter, which represents a year-over-year change of +180%. Over the last 30 days, the Zacks Consensus Estimate for Comstock has increased 49.54% because two estimates have moved higher while two have gone lower. For the full year, the company is expected to earn $0.76 per share, representing a year-over-year change of +416.67%. The revisions trend for the current year also appears quite promising for Comstock, with two estimates moving higher over the past month compared to three negative revisions. The consensus estimate has also received a boost over this time frame, increasing 11.3%. The promising estimate revisions have helped Comstock earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500. Comstock shares have added 23.4% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Comstock Resources, Inc. (CRK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
02-05-2025
- Business
- Yahoo
Here's What Key Metrics Tell Us About Comstock (CRK) Q1 Earnings
For the quarter ended March 2025, Comstock Resources (CRK) reported revenue of $512.85 million, up 52.7% over the same period last year. EPS came in at $0.18, compared to -$0.03 in the year-ago quarter. The reported revenue represents a surprise of +18.98% over the Zacks Consensus Estimate of $431.03 million. With the consensus EPS estimate being $0.16, the EPS surprise was +12.50%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Comstock performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Average natural gas price: $3.58 versus the three-analyst average estimate of $3.49. Total Daily Production - Natural gas: 1300 millions of cubic feet versus 1287.82 millions of cubic feet estimated by three analysts on average. Average natural gas price including hedging: $3.52 versus the three-analyst average estimate of $3.40. Production - Oil-Total: 10 MBBL compared to the 9.15 MBBL average estimate based on two analysts. Average oil price: $70.20 versus the two-analyst average estimate of $63.27. Production - Natural gas-Total: 115,029 MMcf compared to the 116,478.8 MMcf average estimate based on two analysts. Total Production: 115,091 MMcfe versus the two-analyst average estimate of 116,533.6 MMcfe. Revenues- Oil sales: $0.70 million compared to the $0.84 million average estimate based on three analysts. The reported number represents a change of -19.9% year over year. Revenues- Natural gas sales: $412.29 million versus $408.31 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +43.6% change. View all Key Company Metrics for Comstock here>>>Shares of Comstock have returned -14.9% over the past month versus the Zacks S&P 500 composite's -0.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Comstock Resources, Inc. (CRK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
San Francisco Chronicle
30-04-2025
- Business
- San Francisco Chronicle
Comstock: Q1 Earnings Snapshot
FRISCO, Texas (AP) — FRISCO, Texas (AP) — Comstock Resources Inc. (CRK) on Wednesday reported a loss of $121.3 million in its first quarter. The Frisco, Texas-based company said it had a loss of 40 cents per share. Earnings, adjusted for one-time gains and costs, were 18 cents per share. The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share. The oil and gas company posted revenue of $512.9 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $431 million.
Yahoo
24-04-2025
- Business
- Yahoo
Is Comstock Resources (CRK) the Top Oil & Gas E&P Stock Outperforming Despite Sinking Oil Prices?
We recently published a list of . In this article, we are going to take a look at where Comstock Resources, Inc. (NYSE:CRK) stands against other top oil & gas E&P stocks outperforming despite sinking oil prices. Oil prices have crashed by as much as 8.5% since the start of this month as Donald Trump reignites the tariff war. At one point, it was down as much as 18%! The broader market, as well as investors, have come to terms with a harsh reality: the tariffs are here to stay! Inflation resulting from these tariffs threatens to send the country's economy into recession, and global oil demand is reacting accordingly. The oil prices continue to tumble, threatening the future of some of the major oil producers of the world. Amid this uncertain environment, some oil and gas stocks are outperforming the market. We decided to take a look at these stocks to find gems that can help retail investors outperform the market in these tough times. To come up with our list of the top 10 oil & gas stocks outperforming despite sinking oil prices, we looked at the oil & gas exploration and production industry, considering only the stocks with a market cap between $2 billion and $10 billion. A drilling rig surrounded by reserves of oil and natural gas. Comstock Resources, Inc. (NYSE:CRK) operates as an independent energy company. The company explores, acquires, develops, and produces oil and natural gas properties. Its assets cover approximately 1,099,090 acres. Comstock Resources (NYSE:CRK) recently announced its Q4 2024 earnings, indicating a 12% YoY decline in production. This decline was due to the reduced drilling activity at the start of the year. For the full year, it reported an adjusted net loss of $0.24 per share. CRK has now shifted its focus to organic growth in a move that should help it avoid another lackluster year. As per the company's 2025 outlook, it plans to drill 20 wells and bring 17 wells online in the Western Haynesville, backed by four operated rigs. Midstream costs for the area, which will be fully funded by its partner Quantum Capital Solutions, are anticipated to be in the range of $130 million and $150 million. Moreover, the company projects to drill 26 wells and bring 29 wells online in the Legacy Haynesville. Comstock Resources (NYSE:CRK) plans to use operating cash flows to fund its drilling program. With any excess cash flow, the company will prioritize paying off debt. As a result, investors should not expect any sizable dividends. Overall, CRK ranks 10th on our list of top oil & gas E&P stocks outperforming despite sinking oil prices. While we acknowledge the potential of CRK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that has gone up since the beginning of 2025, while popular AI stocks have lost around 25%. If you are looking for an AI stock that is more promising than CRK but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
