Comstock Resources Q4 oil and gas sales rise

Comstock Resources

11/02/2026 21:23

Overview

Natural gas producer's Q4 oil and gas sales reached $364 mln

Adjusted net income for Q4 was $46 mln

Company completed sale of Shelby Trough assets for $417 mln

Outlook

Comstock plans to increase drilling rigs from eight to nine in 2026

Company expects to spend $1.4 bln to $1.5 bln on development and exploration

Comstock allocates $100 mln to $150 mln for Western Haynesville midstream system

Result Drivers

HIGHER GAS PRICES - Increased natural gas prices in Q4 drove improved financial results

SHELBY TROUGH SALE - Sale of Shelby Trough assets contributed to net income with a pre-tax gain of $292.3 mln

SUCCESSFUL DRILLING - Four successful wells in Western Haynesville with high initial production rates supported results

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Oil & Gas Sales
$364 mln
Q4 Adjusted Net Income
$46 mln
Q4 Adjusted EBITDAX
$277 mln
Q4 Operating Cash Flow
$222 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 10 "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 is $24.00, about 17.5% above its February 10 closing price of $20.42

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release: ID:nGNX4Mk346

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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.)