Overview

* Comstock Q3 natural gas and oil sales totaled $335 mln, driven by higher natural gas prices

* Adjusted EPS for Q3 missed analyst expectations

* Company to sell Shelby Trough assets for $430 mln in cash

Outlook

* Company did not provide specific guidance for future quarters or full year in its press release

Result Drivers

* HIGHER NATURAL GAS PRICES - Increased natural gas prices drove improved financial results in Q3

* HAYNESVILLE WELL COMPLETIONS - Successful well completions in Haynesville area contributed to production

* STRATEGIC DIVESTITURES - Divestiture of non-strategic assets to streamline operations and reduce debt

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $0.09 $0.10

Adjusted (13

EPS Analysts

)

Q3 EPS $0.40

Q3 $28 mln

Adjusted

Net

Income

Q3 $249 mln

Adjusted

EBITDAX

Q3 $190 mln

Operatin

g Cash

Flow

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 9 "hold" and 4 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

* Wall Street's median 12-month price target for Comstock Resources Inc ( CRK ) is $19.00, about 1.3% above its October 31 closing price of $18.75

* The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)