Comstock Resources Inc Stock Research

Market Summary

USD12.35+0.03

Market Closed

0.24%

CRK Alerts

1 major insider buys recently.

CRK Stock Price

CRK RSI Chart

CRK Valuation

Market Cap

2.9B

Price/Earnings (Trailing)

2.94

Price/Sales (Trailing)

0.87

EV/EBITDA

1.51

Price/Free Cashflow

CRK Price/Sales (Trailing)

CRK Profitability

EBT Margin

37.59%

Return on Equity

60.61%

Return on Assets

17.58%

Free Cashflow Yield

50.05%

CRK Fundamentals

CRK Revenue

Revenue (TTM)

3.3B

Revenue Y/Y

132.8%

Revenue Q/Q

25.76%

CRK Earnings

Earnings (TTM)

981.5M

Earnings Y/Y

223.34%

Earnings Q/Q

-5.65%

Price Action

52 Week Range

7.1622.11

(Low)(High)

Last 7 days

-2.5%

Last 30 days

-8.0%

Last 90 days

-30.8%

Trailing 12 Months

68.3%

CRK Financial Health

Current Ratio

0.65

CRK Investor Care

Dividend Yield

16.91%

Shares Dilution (1Y)

0.87%

Diluted EPS (TTM)

3.68

Peers (Alternatives to Comstock Resources)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
EOG	78.5B	25.0B	5.70%	29.51%	10.51	3.14	60.81%	147.54%
OXY	60.4B	36.8B	7.18%	80.08%	4.68	1.64	69.86%	4049.24%
PXD	56.0B	24.8B	4.46%	14.49%	7.86	2.26	81.23%	409.80%
DVN	49.8B	19.7B	7.19%	30.39%	9.45	2.71	81.04%	424.48%
FANG	26.5B	9.6B	12.26%	25.20%	5.96	2.75	73.79%	865.29%
APA	14.4B	12.1B	1.22%	40.52%	4.67	1.31	76.89%	430.32%
OVV	12.8B	14.1B	3.55%	36.78%	3.47	0.91	56.06%	733.33%
MID-CAP
MTDR	7.9B	3.1B	21.66%	52.85%	6.56	2.6	96.12%	296.97%
RRC	6.1B	5.4B	2.60%	37.67%	4.81	1.12	90.74%	385.71%
OAS	4.4B	3.2B	-33.88%	7.97%	4.99	1.94	192.30%	81.27%
KOS	3.7B	2.3B	35.56%	87.53%	8.42	1.6	105.29%	360.71%
CRK	2.9B	3.3B	-8.04%	68.26%	2.94	0.87	125.59%	288.67%
CPE	2.7B	2.6B	25.24%	-11.71%	2.18	1.01	60.18%	387.51%
SMALL-CAP
PARR	1.6B	6.8B	23.68%	101.62%	5.68	0.24	64.72%	229.94%
LPI	812.8M	2.0B	-8.19%	-35.44%	1.11	0.4	82.29%	407.57%

Financials for Comstock Resources

Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	25.7%	3,316	2,638	2,035	1,851	1,470
Operating Expenses	19.2%	1,261	1,057	957	950	765
S&GA Expenses	5.8%	38	36	35	35	30
EBITDA	60.7%	1,892	1,177	459	458	-
EBITDA Margin	27.8%	0.57*	0.45*	0.23*	0.25*	-
Earnings Before Taxes	138.0%	1,247	524	-209.28	-230.32	-557.40
EBT Margin	89.2%	0.38*	0.20*	-0.10*	-0.12*	-
Interest Expenses	-4.5%	180	189	201	218	237
Net Income	190.8%	981	338	-219.02	-241.72	-520.20
Net Income Margin	131.2%	0.30*	0.13*	-0.11*	-0.13*	-
Free Cahsflow	392.4%	1,445	293	213	170	-

* denotes actual numbers (not divided by Millions)

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	5.6%	5,584	5,288	4,750	4,668	4,887
Current Assets	33.5%	709	531	268	319	310
Cash Equivalents	19.8%	39	32	12	31	28
Net PPE	2.9%	4,440	4,313	4,129	4,007	4,234
Goodwill	0%	336	336	336	336	336
Liabilities	-1.4%	3,790	3,842	3,676	3,480	4,057
Current Liabilities	13.2%	1,092	965	938	634	1,063
LT Debt, Non Current	-9.9%	2,262	2,510	2,534	2,615	2,801
Shareholder's Equity	27.4%	1,619	1,271	899	1,013	655
Retained Earnings	665.8%	404	53	-319.78	-204.04	-560.03
Additional Paid-In Capital	-0.3%	1,099	1,102	1,102	1,100	1,099
Accumulated Depreciation	10.0%	1,412	1,283	1,164	1,058	1,261
Shares Outstanding	0.3%	234	233	233	233	232

* denotes actual numbers (not divided by Millions)

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	24.6%	1,445	1,159	950	859	804
Share Based Compensation	0.6%	6	6	7	7	7
Cashflow From Investing	-11.5%	-811.26	-727.61	-598.50	-550.82	-686.64
Cashflow From Financing	-48.6%	-622.87	-419.20	-416.57	-307.80	-118.08

Risks for CRK

What is the probability of a big loss on CRK?

100%

Probability that Comstock Resources stock will be more than 20% underwater in next one year

82.7%

Probability that Comstock Resources stock will be more than 30% underwater in next one year.

72.7%

Probability that Comstock Resources stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CRK drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Comstock Resources was unfortunately bought at previous high price.

Drawdowns

Returns for CRK

Cumulative Returns on CRK

-15.9%

10-Year Cumulative Returns

5.1%

7-Year Cumulative Returns

3.3%

5-Year Cumulative Returns

28.3%

3-Year Cumulative Returns

What are the long-term rolling returns for CRK?

FIve years rolling returns for Comstock Resources.

Annualized Returns

Which funds bought or sold CRK recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-01-26	OUTFITTER FINANCIAL LLC	unchanged	-	-182,000	699,000	0.63%
2023-01-26	STRS OHIO	unchanged	-	-150,000	574,000	-%
2023-01-26	CALAMOS ADVISORS LLC	sold off	-100	-884,000	-	-%
2023-01-26	Empowered Funds, LLC	added	47.02	577,000	4,061,000	0.26%
2023-01-26	DUPONT CAPITAL MANAGEMENT CORP	reduced	-9.68	-77,713	197,287	0.01%
2023-01-26	Symphony Financial, Ltd. Co.	reduced	-0.11	-93,041	335,959	0.09%
2023-01-25	Lindbrook Capital, LLC	sold off	-100	-1,000	-	-%
2023-01-25	FIFTH THIRD BANCORP	unchanged	-	-258	2,742	-%
2023-01-25	SFMG, LLC	unchanged	-	-89,800	274,200	0.03%
2023-01-24	Fractal Investments LLC	unchanged	-	-93,169	357,831	0.09%

Latest Funds Activity

Are funds buying CRK calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CRK

No. of Funds

CRK Alerts

1 major insider buys recently.

Comstock Resources News

Schedule 13G FIlings of Comstock Resources

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Jun 08, 2021	covey park holdings llc	4.3%	10,013,186	SC 13D/A
Aug 28, 2020	covey park holdings llc	8.2%	19,013,186	SC 13D/A
Aug 27, 2020	jones jerral w.	49.8%	137,521,827	SC 13D/A
May 22, 2020	covey park holdings llc	72.2%	167,404,429	SC 13D/A
Feb 13, 2020	oaktree capital management lp	0.0%	0	SC 13G/A

CRK Fair Value

Comstock Resources fair value in different scenarios

The table shows the Fair Value estimates for Comstock Resources for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	10.71 -13.28%	31.10 151.82%	74.05 499.60%	154.51 1151.09%	241.20 1853.04%
Current Inflation	9.98 -19.19%	28.00 126.72%	64.90 425.51%	133.87 983.97%	207.51 1580.24%
Very High Inflation	9.06 -26.64%	24.24 96.28%	54.14 338.38%	109.82 789.23%	168.52 1264.53%

Fair Value

Very Pessimistic

Pessimistic

Base Case

Optimistic

Very Optimistic

Very Low Inflation

10.71

-13.28%

31.10

151.82%

74.05

499.60%

154.51

1151.09%

241.20

1853.04%

Current Inflation

9.98

-19.19%

28.00

126.72%

64.90

425.51%

133.87

983.97%

207.51

1580.24%

Very High Inflation

9.06

-26.64%

24.24

96.28%

54.14

338.38%

109.82

789.23%

168.52

1264.53%

Historical Comstock Resources Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Comstock Resources

View All Filings

Date Filed	Form Type	Document
Jan 17, 2023	4	Insider Trading
Jan 03, 2023	4	Insider Trading
Dec 29, 2022	4	Insider Trading
Dec 23, 2022	4	Insider Trading
Dec 12, 2022	3/A	Insider Trading
Dec 12, 2022	4	Insider Trading
Dec 05, 2022	3	Insider Trading
Nov 30, 2022	8-K	Current Report
Nov 28, 2022	8-K	Current Report
Nov 16, 2022	8-K	Current Report

Latest Insider Trading transactions for CRK

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-16	Kanaman Lori Ann Arendt	back to issuer	-	-	-6,922	vp of marketing
2022-12-27	BURNS ROLAND O	gifted	-96,129	14.565	-6,600	president & cfo
2022-12-22	TURNER JIM L	bought	208,690	13.9127	15,000	-
2022-12-09	FOSTER MORRIS E	bought	200,978	14.33	14,025	-
2022-09-23	FOSTER MORRIS E	bought	160,600	16.06	10,000	-
2022-09-22	FOSTER MORRIS E	bought	145,440	18.18	8,000	-
2022-09-16	FOSTER MORRIS E	bought	254,240	18.16	14,000	-
2022-09-16	ALLISON M JAY	bought	975,000	19.5	50,000	chairman & ceo
2022-09-09	Kanaman Lori Ann Arendt	acquired	-	-	6,922	vp of marketing
2022-09-09	BURNS ROLAND O	acquired	-	-	147,786	president & cfo

About Comstock Resources

M. Jay Allison

www.comstockresources.com

200

Comstock Resources, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas primarily in North Louisiana and East Texas, the United States. As of December 31, 2021, the company had 6.1 trillion cubic feet of the natural gas equivalent of proved reserves. It also owns interests in 2,557 producing oil and natural gas wells. The company was incorporated in 1919 and is headquartered in Frisco, Texas.

CRK Income Statement

2022-09-30

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Total oil and gas sales	$ 1,190,005	$ 511,176	$ 2,705,673	$ 1,195,354
Operating expenses:
Production and ad valorem taxes	24,531	16,675	60,080	36,468
Gathering and transportation	44,740	35,402	113,797	96,596
Lease operating	28,608	26,576	79,873	77,150
Exploration	0	0	3,363	0
Depreciation, depletion and amortization	129,065	128,739	354,994	359,313
Gas services	181,818	0	305,271	0
General and administrative	10,165	8,052	27,451	23,952
Gain on sale of assets	0	(14)	(21)	(93)
Total operating expenses	418,927	215,430	944,808	593,386
Operating income	771,078	295,746	1,760,865	601,968
Other income (expenses):
Loss from derivative financial instruments	(271,335)	(510,319)	(781,654)	(756,026)
Other income	56	197	506	1,008
Interest expense	(41,393)	(49,954)	(132,204)	(170,645)
Loss on early retirement of debt	0	0	(46,840)	(352,599)
Total other expenses	(312,672)	(560,076)	(960,192)	(1,278,262)
Income (loss) before income taxes	458,406	(264,330)	800,673	(676,294)
(Provision for) benefit from income taxes	(102,810)	(23,976)	(179,610)	74,168
Net income (loss)	355,596	(288,306)	621,063	(602,126)
Preferred stock dividends	(4,411)	(4,411)	(13,089)	(13,089)
Net income (loss) available to common stockholders	$ 351,185	$ (292,717)	$ 607,974	$ (615,215)
Net income (loss) per share:
Basic (in dollars per share)	$ 1.50	$ (1.26)	$ 2.61	$ (2.66)
Diluted (in dollars per share)	$ 1.28	$ (1.26)	$ 2.24	$ (2.66)
Weighted average shares outstanding:
Basic (in shares)	232,482	231,747	232,170	231,519
Diluted (in shares)	277,715	231,747	277,605	231,519
Total oil and gas sales
Revenues:
Total oil and gas sales	$ 996,915	$ 511,176	$ 2,383,098	$ 1,195,354
Natural gas sales
Revenues:
Total oil and gas sales	994,979	488,303	2,376,774	1,133,783
Oil sales
Revenues:
Total oil and gas sales	1,936	22,873	6,324	61,571
Gas services
Revenues:
Total oil and gas sales	$ 193,090	$ 0	$ 322,575	$ 0

CRK Balance Sheet

2022-09-30

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 38,648	$ 30,663
Accounts receivable:
Oil and gas sales	548,979	217,149
Joint interest operations	57,601	29,755
From affiliates	20,758	20,834
Derivative financial instruments	2,368	5,258
Other current assets	40,470	15,077
Total current assets	708,824	318,736
Oil and natural gas properties, successful efforts method:
Proved	5,520,425	4,756,394
Unproved	306,095	302,129
Other	25,295	6,690
Accumulated depreciation, depletion and amortization	(1,411,793)	(1,058,067)
Net property and equipment	4,440,022	4,007,146
Goodwill	335,897	335,897
Operating lease right-of-use assets	99,622	6,450
Total assets	5,584,365	4,668,229
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	617,463	314,569
Accrued costs	150,327	135,026
Operating leases	38,024	2,444
Derivative financial instruments	285,713	181,945
Total current liabilities	1,091,527	633,984
Long-term debt	2,261,697	2,615,235
Deferred income taxes	345,806	197,417
Derivative financial instruments	0	4,042
Long-term operating leases	61,676	4,075
Reserve for future abandonment costs	29,235	25,673
Other non-current liabilities	8	24
Total liabilities	3,789,949	3,480,450
Commitments and contingencies
Mezzanine equity:
Series B Convertible Preferred stock — 5,000,000 shares authorized, 175,000 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	175,000	175,000
Stockholders' equity:
Common stock—$0.50 par, 400,000,000 shares authorized, 233,757,678 and 232,924,646 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	116,879	116,462
Additional paid-in capital	1,098,605	1,100,359
Accumulated earnings (deficit)	403,932	(204,042)
Total stockholders' equity	1,619,416	1,012,779
Total liabilities and stockholders' equity	$ 5,584,365	$ 4,668,229