Revenue Update on Comstock Resources Inc(NYSE:CRK)

Comstock Resources Inc(NYSE:CRK) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 1, 2016. Company reported revenue of $40.72M. Analysts estimated a revenue of $38.99M. Earnings per share were $-0.81. Analysts had estimated an EPS of $-0.69.

Comstock Resources Inc (CRK) shares turned negative on Mondays trading session with the shares closing down -0.07 points or -1.67% at a volume of 1,88,805. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.36. The peak price level was also seen at $4.36 while the days lowest was $4.11. Finally the shares closed at $4.12. The 52-week high of the shares is $20.35 while the 52-week low is $2.64. According to the latest information available, the market cap of the company is $50 M.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Carl H Westcott (10% owner) sold 28,500 shares at $0.72 per share price.Also, On Dec 23, 2015, Russell W Romoser (VP of Reservoir Engineering) sold 1,000 shares at $1.86 per share price.On Dec 23, 2015, Daniel K Presley (VP of Accounting) sold 4,000 shares at $1.84 per share price, according to the Form-4 filing with the securities and exchange commission.

Comstock Resources Inc. is an energy company engaged in the acquisition exploration development and production of oil and natural gas in the United States. The Company’s oil and gas operations are concentrated in Texas and Louisiana. Its operations are focused in two operating areas: East Texas/North Louisiana and South Texas. The Company’s properties in the East Texas/North Louisiana region include approximately 81294 acres in the Haynesville or Bossier shale formations. The Company’s Eagleville field includes approximately 31459 acres located in the oil window of the Eagle Ford shale in South Texas. The Company also has approximately 35322 acres in the oil window of the Eagle Ford shale in or near Burleson County Texas. It has approximately 91208 acres in Mississippi and Louisiana. The Company owns interests in around 1596 producing oil and natural gas wells and operates 962 of these wells.

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