Thu, Aug. 27, 5:39 PM
Mon, Aug. 17, 5:37 PM
Fri, Aug. 14, 12:45 PM
Thu, Aug. 13, 12:45 PM
Wed, Aug. 12, 12:44 PM
Mon, Jul. 27, 12:48 PM
Fri, Jul. 24, 5:31 PM
- Signet Jewlers (NYSE:SIG) is replacing DirecTV (just acquired by AT&T) in the S&P 500 after Tuesday's close. Parexel (NASDAQ:PRXL) is taking Signet's spot in the S&P MidCap 400, and Enanta Pharma (NASDAQ:ENTA) is taking Parexel's spot in the S&P SmallCap 600.
- Also: Catalent (NYSE:CTLT) is replacing JDS Uniphase (JDSU - about to carry out a spinoff) in the S&P 400 after the July 31 close. What's left of JDSU (to be known as Viavi) will replace Susquehanna Bancshares (about to be acquired) in the S&P 600, while its Lumentum Holdings spinoff will replace Comstock Resources (NYSE:CRK) in the 600.
- SIG +2.5% AH. PRXL +0.7%. ENTA +4%. CTLT +3%.
Tue, Jul. 7, 12:46 PM
Wed, Jul. 1, 3:47 PM
- Comstock Resources (CRK -12.6%) has dropped sharply following news it agreed to sell its oil and gas properties in the Eagle Ford Shale in east Texas for ~$115M.
- CRK says it expects to realize a $100M-$110M pre-tax loss on the sale, and revises its 2015 oil production guidance to 9K-9.5K bbl/day and its natural gas production guidance to 125MM-150MM cf/day.
- CRK says the sale will help fund its drilling program in the Hayneville shale and elsewhere.
Wed, Jul. 1, 9:18 AM
Mon, Mar. 23, 10:55 AM
- Comstock Resources (CRK +8.2%) says it will cut its 2015 capital spending plan by ~22% to $248M from its previously announced budget in December 2014.
- Based on the new capital budget, CRK now estimates its 2015 natural gas production will average 130M-155M cf/day, with 2015 oil production still seen at 9.5K-10.5K bbl/day.
- Also, CRK says the success of its first Haynesville shale refrac will allow it to release one of its operated rigs drilling in the play at the end of March, and now plans to spend $95M and drill nine long lateral new wells there during 2015; it is also increasing capital allocated toward the refrac program, now planning to spend $23M on 14 Haynesville refracs.
Mon, Feb. 23, 5:37 PM
Fri, Feb. 13, 4:30 PM
- Comstock Resources (NYSE:CRK) -4.7% AH after announcing the suspension of its common stock dividend, citing declines in oil and natural gas prices and the uncertainty around future prices.
- CRK says it will consider reinstating dividends in later quarters based on general economic conditions, the company's financial position, capital requirements and other factors.
Wed, Feb. 11, 10:43 AM
- Comstock Resources (CRK -2.5%) is reiterated with an Outperform rating and $10.50 price target at Imperial Capital, saying unhedged CRK has several levers to pull should pricing remain weak.
- Imperial says that in its earnings conference call, CRK detailed its commitment to preserving capital should gas pricing erode further and laid out the possibility of cutting to a single rig program or reducing the dividend if needed.
- The firm also liked CRK management's "confident tone" on the restart of the Haynesville program based upon the first long-lateral well drilling without a hitch and the company's familiarity with Encana's long lateral program.
Mon, Feb. 2, 12:49 PM
Thu, Jan. 8, 9:15 AM
CRK vs. ETF Alternatives
Comstock Resources Inc along with its subsidiaries is engaged in oil and natural gas exploration, development and production. It is also engaged in the acquisition of producing oil and natural gas properties.
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