Why These Energy Stocks are Losing This Week

4. Comstock Resources, Inc. (NYSE:CRK)

Share Price Decline Between Feb. 11 and Feb. 18: 8.86% 

Comstock Resources, Inc. (NYSE:CRK) is a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas.

Comstock Resources, Inc. (NYSE:CRK) continued its fall following the recent plunge in natural gas prices. US natural gas futures are currently hovering near a 4-month low of just under $3 per MMBtu, down 43% since January 22. The downturn has been driven by a combination of factors, including a milder shift in weather leading to a reduced demand for heating, a surge in production, and smaller-than-normal storage withdrawals.

The average natural gas output in the Lower 48 states has grown to 108.7 billion cubic feet per day (bcfd) so far in February, up from 106.3 bcfd last month. Meanwhile, the US Energy Information Administration reported a 144 bcf withdrawal for the week ended February 13, slightly below the 5-year average and the 182 bcf withdrawal from a year ago.