Comstock reported a loss of 5 cents a share for the third quarter, missing the Capital IQ Consensus Estimate of a profit of 8 cents a share by 13 cents. Revenue grew 29.9% year over year to $145 million, below analysts' estimates of $154.66 million.
Oil production grew 78% year over year to an average of 12,228 barrels of oil a day in the quarter, up from 6,870 barrels of oil in the year-ago quarter. The company produced 1.1 million barrels of oil in the quarter. Natural gas production fell 29% to 10 billion cubic feet of natural gas from 13.6 billion cubic feet in the third quarter of 2013.
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TheStreet Ratings team rates COMSTOCK RESOURCES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate COMSTOCK RESOURCES INC (CRK) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and a generally disappointing performance in the stock itself."
You can view the full analysis from the report here: CRK Ratings Report