On Thursday, in the course of current trade, Shares of NorthStar Realty Finance Corp. (NYSE:NRF), showing no change to $18.32.
NorthStar Realty Finance, declared that it will be added to the MSCI U.S. REIT Index (RMZ), effective as of the close of the market on May 29, 2015.
David T. Hamamoto, chairman and chief executive officer, commented, “Our inclusion in the MSCI U.S. REIT Index is an important step in the evolution of our business and serves as further acknowledgment of our transition to an equity REIT focused on direct real estate ownership. We expect that our inclusion will expand NorthStar Realty’s visibility in the investment community and open NorthStar Realty to a broader institutional shareholder base.”
NorthStar Realty Finance Corp., a real estate investment trust (REIT), operates as a commercial real estate (CRE) investment and asset administration company in the United States. It focuses on originating, structuring, acquiring, and managing senior and subordinate debt investments secured primarily by commercial, multifamily, and healthcare properties, which comprise first mortgage loans, subordinate mortgage interests, mezzanine loans, credit tenant loans, and other loans, such as preferred equity interests in borrowers who own such properties.
During an Afternoon trade, Shares of Comstock Resources Inc. (NYSE:CRK), dipped -2.81%, and is now trading at $4.15.
Comstock Resources, stated financial and operating results for the three months ended March 31, 2015.
Financial Results for the Three Months Ended March 31, 2015
Comstock stated a net loss of $78.5 million or $1.71 per share for the first quarter of 2015 as contrast to net income of $1.2 million or 2¢ per diluted share for the first quarter of 2014. The first quarter 2015 results comprise impairments on unevaluated acreage and oil and gas properties of $40.8 million ($26.5 million after tax or 58¢ per share), drilling rig termination fees of $1.8 million ($1.2 million after tax or 3¢ per share) and a net loss on extinguishment of debt of $2.7 million ($1.8 million after tax or 4¢ per share). Financial results for the first quarter of 2014 comprised of an unrealized loss from derivative financial instruments of $3.6 million ($2.4 million after tax or 6¢ per share). Not taking into account these items from each year`s results, the net loss for the first quarter of 2015 would have been $49.0 million or $1.06 per share as contrast to net income of $3.6 million or 8¢ per diluted share in the first quarter of 2014.
Comstock produced 1,036,300 barrels of oil and 8.2 billion cubic feet of natural gas or 14.4 billion cubic feet of natural gas equivalent (“Bcfe”) in the first quarter of 2015. Oil production in the first quarter of 2015, which averaged 11,500 barrels of oil per day, grew 11% from the 10,400 barrels per day produced in the first quarter of 2014. Natural gas production in the first quarter of 2015 declined by 25% from natural gas production of 11.0 billion cubic feet in the first quarter of 2014. Production in the first quarter of 2015 was adversely influenced by delays in timing of completions in the Company`s East Texas Eagle Ford shale wells and the first Haynesville shale well in the 2015 program. In addition, the Company practiced greater than predictable shut-in time for offset frac activity and artificial lift installation in the quarter.
Comstock Resources, Inc., an independent energy company, acquires, develops, explores, and produces oil and natural gas properties in the United States. Its oil and gas operations are primarily located in East Texas/North Louisiana and South Texas.
Shares of NiSource Inc. (NYSE:NI), during its Thursday’s current trading session gained 0.50%, and is now trading at $44.16.
Today, NiSource and Columbia Pipeline Group (CPG) executives outlined their respective post-separation business strategies and growth outlooks while confirming additional details of the planned separation.
- NiSource outlined 2016 financial guidance and confirmed a projected average annual 4-6 percent earnings per share and dividend growth rate
- CPG outlined 2015 financial guidance and defined a projected average annual growth rate through 2020 of ~20 percent EBITDA growth and ~15 percent dividend growth
- CPG investment grade credit ratings secured
- Debt recapitalization and refinancing in progress; separation on track for July 1, 2015.
NiSource Inc., an energy holding company, provides natural gas, electricity, and other products and services in the United States. It operates through three segments: Gas Distribution Operations, Columbia Pipeline Group Operations, and Electric Operations. The Gas Distribution Operations segment offers natural gas service and transportation to residential, commercial, and industrial customers.
Finally, Tesoro Corporation (NYSE:TSO), gained 3.56% Thursday.
Tesoro Corporation, stated first quarter 2015 net earnings of $145 million, or $1.15 per diluted share contrast to net earnings of $78 million, or $0.58 per diluted share for the first quarter of 2014. Adjusted Earnings for the first quarter, not taking into account a net benefit from special items of $21 million after tax, were $124 million or $0.98 per diluted share. Adjusted EBITDA for the first quarter, not taking into account special items, was $489 million contrast to $362 million last year.
For the first quarter 2015, the Company recorded segment operating income of $424 million contrast to segment operating income of $264 million in the first quarter of 2014. The enhance was primarily driven by continued growth in the logistics business and strong retail margins.
Tesoro Corporation, through its auxiliaries, engages in petroleum refining and marketing activities in the United States. It operates in three segments: Refining, Tesoro Logistics LP (TLLP), and Retail. The Refining segment refines crude oil and other feed stocks into transportation fuels, such as gasoline, gasoline blend stocks, jet fuel, and diesel fuel, in addition to other products, counting heavy fuel oils, liquefied petroleum gas, petroleum coke, calcined coke, and asphalt.
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