The share price of Comstock Resources, Inc. (NYSE:CRK) fell by 13.67% between December 3 and December 10, 2025, putting it among the Energy Stocks that Lost the Most This Week. Comstock Resources (CRK) Falls Following Pullback in Natural Gas Prices Comstock Resources, Inc. (NYSE:CRK) is a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas. Comstock Resources, Inc. (NYSE:CRK) was among the natural gas stocks that ...

A month has gone by since the last earnings report for Comstock Resources (CRK) . Shares have added about 26.5% in that time frame, outperforming the S&P 500.But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Comstock due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Comstock Resources, Inc. before we dive into how investors and analysts ...

Group 1: Natural Gas Market Outlook - The world is increasingly favoring natural gas over oil due to its lower carbon emissions and fewer environmental risks, making it an attractive option for energy investors [1] - The U.S. Energy Information Administration (EIA) projects natural gas spot prices to rise to $3.50 per million BTU by 2025, up from $2.20 last year, with expectations of $4.00 per million BTU next year driven by increasing LNG export volumes [2] - The EIA's outlook indicates a positive future for natural gas explorers and producers, while upstream oil players may face challenges due to declining crude prices [4] Group 2: Company-Specific Insights - Williams (WMB) is well-positioned to benefit from the demand for clean energy, with a pipeline network of 33,000 miles facilitating significant natural gas transportation, generating stable cash flows [6] - Antero Resources (AR) is a key natural gas explorer with a strong presence in the Appalachian region, possessing premium drilling inventories that can sustain operations for over two decades [7] - Comstock Resources (CRK) operates in the Haynesville Shale and reported an adjusted net income of $28 million in Q3 2025, recovering from a loss of $48.5 million in the previous year [8]

Core Insights - Comstock Resources, Inc. (NYSE:CRK) experienced a share price increase of 9.9% from November 7 to November 14, 2025, making it one of the top-performing energy stocks during that week [1] - The company is a prominent independent natural gas producer, primarily focused on the Haynesville shale region in North Louisiana and East Texas [2] - Comstock Resources reported strong third-quarter results on November 4, exceeding expectations due to rising natural gas prices and robust drilling outcomes in the Haynesville and Bossier shales [3] - The company announced the sale of its Shelby Trough assets for $430 million in cash, which will enhance its balance sheet and help reduce debt [3] - Following the solid Q3 performance, UBS raised its price target for Comstock Resources from $14 to $16, while maintaining a 'Sell' rating on the shares [4] - The recent surge in Comstock's stock price was also influenced by natural gas prices reaching their highest levels since December 2022, driven by strong LNG export demand and forecasts of colder weather [4]

Group 1 - The article discusses the importance of the Equity Yield Curve as a strategy for investment analysis [1] - Leo Nelissen is identified as an analyst focusing on economic developments related to supply chains, infrastructure, and commodities [1] - The aim of the iREIT®+HOYA Capital team is to provide insightful analysis and actionable investment ideas, particularly in dividend growth opportunities [1]

Core Insights - Comstock Resources reported a revenue of $449.85 million for the quarter ended September 2025, marking a 47.8% increase year-over-year and exceeding the Zacks Consensus Estimate by 12.14% [1] - The company achieved an EPS of $0.09, a significant improvement from -$0.17 in the same quarter last year, resulting in a 125% EPS surprise compared to the consensus estimate of $0.04 [1] Financial Performance Metrics - Average natural gas price was $2.75, slightly below the estimated $2.78, while the average natural gas price including hedging was $2.99, also below the estimated $3.01 [4] - Total daily production of natural gas was 1,118 million cubic feet per day, lower than the estimated 1,233.76 million cubic feet per day [4] - Total production was reported at 111,837.00 MMcfe, which was below the estimated 113,776.90 MMcfe [4] - Oil production totaled 11.00 MBBL, exceeding the estimated 10.31 MBBL, with an average oil price of $61.91, higher than the estimated $57.70 [4] - Revenues from oil sales were $0.68 million, below the estimated $0.82 million, reflecting a year-over-year decline of 30.2%, while revenues from natural gas sales were $307.91 million, above the estimated $328.55 million, showing a year-over-year increase of 21.9% [4] Stock Performance - Comstock shares have returned +41.2% over the past month, significantly outperforming the Zacks S&P 500 composite, which saw a +1.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Insights - Comstock Resources, Inc. (CRK) reported third-quarter 2025 adjusted earnings of 9 cents per share, exceeding the Zacks Consensus Estimate of 4 cents, and improved from a loss of 17 cents in the prior year [1][9] - Total quarterly revenues reached $450 million, surpassing the Zacks Consensus Estimate of $401 million, and increased from $304.5 million in the previous year [1][9] - The strong performance was driven by higher average natural gas price realizations [1][9] Operational Performance - Total production averaged 111,837 million cubic feet equivalent (MMcfe), down from 133,198 MMcfe in the same quarter last year [2] - Natural gas production decreased to 111,770 million cubic feet (MMcf) from 133,116 MMcf a year ago [2] Price Realization - Average natural gas price realization (before hedging) was $2.75 per thousand cubic feet (Mcf), up from $1.90 per Mcf in the prior-year quarter [3] - Total price realization (before hedging) averaged $2.76 per thousand cubic feet equivalent (Mcfe), compared to $1.90 per Mcfe in the third quarter of 2024 [3] Costs & Expenses - Total production costs were $0.77 per Mcfe, unchanged year over year [4] - Lease operating expenses rose to 26 cents per Mcfe from 22 cents in the previous year [4] - Gathering and transportation expenses decreased to 36 cents from 41 cents per Mcfe [4] - Total operating expenses for the quarter were $399.6 million, up from $365.8 million a year ago [4] - Gas services expenses increased significantly to $141.7 million from $52.6 million in the third quarter of 2024 [4] Financials - Total exploration and development capital expenditures in the third quarter amounted to $267.1 million [6] - Operating cash flow for the third quarter was $190.3 million [6] Balance Sheet - As of September 30, 2025, Comstock Resources reported long-term debt of $3.13 billion and cash and cash equivalents of $19.2 million [5] Outlook - Comstock Resources anticipates total production in the fourth quarter to be between 1,200-1,300 million cubic feet equivalent per day (MMcfe/d) [7] - Lease operating expenses are expected to range from $0.25 to $0.29 per Mcfe, while gathering and transportation expenses are projected to be between $0.34 and $0.40 per Mcfe for the fourth quarter [7]

Core Insights - The AI boom has significantly increased energy demand, with natural gas being the quickest solution to meet this demand, particularly in Texas [1] - Comstock Resources is positioned as a leader in the natural gas sector due to its strategic land acquisitions and aggressive drilling approach [3][5] Company Overview - Comstock Resources, with Jerry Jones as its largest shareholder, has a valuable portfolio of land in the Haynesville Shale Basin, acquired in 2019, making it a key player in the natural gas market [2][6] - The acquisition of Covey Park Energy for $2.2 billion in 2019 expanded Comstock's land holdings and enhanced its operational capacity [6][7] Market Position - The Western Haynesville region is recognized as a promising area for exploration and production, attracting companies willing to take risks on new drilling ventures [2][3] - Comstock's location, approximately 100 miles from major cities and close to the LNG corridor, positions it favorably for servicing the growing demand from AI and data center developers [4] Technical Aspects - The natural gas reserves are located at depths of 14,000 to 19,000 feet, presenting unique challenges due to extreme pressure conditions [9]

Core Insights - Comstock Resources (CRK) has enhanced its liquidity through divestitures amounting to $445 million, indicating a strategic move to strengthen its financial position [2] - The company continues to invest significantly in the Western Haynesville region, suggesting a commitment to growth in this area despite the need for improved capital management [2] Company Overview - Comstock Resources is actively engaged in divesting assets to improve liquidity, which is crucial for its operational flexibility [2] - The company is focusing on the energy sector, particularly in the Western Haynesville, which may present both opportunities and challenges in capital allocation [2]

Group 1 - Comstock Resources (CRK) has enhanced its liquidity through $445 million in recent divestitures [2] - The company continues to invest heavily in the Western Haynesville region [2] - There is a belief that Comstock Resources needs to significantly improve its capital management [2]