Comstock Resources Intrinsic Value Calculator – Comstock Resources’ Growth on Hold Until 2024

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Comstock Resources ($NYSE:CRK) is a publicly-traded oil and gas exploration and production company located in Frisco, Texas. The company has been steadily growing for the past several years, however, it has recently announced that its growth is being suspended until the end of 2024. This is due to unpredictable market conditions in the oil and gas industry, as well as financial constraints. The suspension of growth follows other cost-cutting measures that Comstock Resources has taken in order to stay afloat. It has reduced its workforce and consolidated its operations. Comstock Resources is focused on increasing profitability by optimizing drilling and production activities, reducing costs and increasing operational efficiency.

In addition, the company is looking for opportunities to diversify its portfolio, including investments in renewable energy and technology. Although growth is suspended until 2024, Comstock Resources still has a bright future ahead of it with an experienced management team, strong financial position and a commitment to long-term sustainability.

Market Price

Comstock Resources, Inc. (NYSE: CRK) announced on Tuesday that its growth will remain on hold until 2024. The news caused the company’s stock to open at $9.2 and close at the same price, up by 0.4% from the previous day’s closing price of 9.1. Since the announcement, investors have largely kept their distance from the energy producer’s stock, though some analysts are predicting it will eventually recover. The company’s growth plans have been stalled due to technical and operational issues which have caused a decrease in production. Comstock Resources has also seen a drop in oil and gas prices, thereby further hindering their ability to expand.

As a result, the company will remain focused on increasing efficiency throughout the remainder of the year in order to stay competitive in the industry. The future of Comstock Resources is still uncertain, but with the announcement of their plans to put growth on hold until 2024, investors appear to be taking a wait-and-see approach. It is yet to be seen how the company will fare in the coming years, but it is clear that recovery will take some time. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Comstock Resources. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Comstock Resources. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Comstock Resources. More…

Key Ratios Snapshot

Some of the financial key ratios for Comstock Resources are shown below. More…

Analysis – Comstock Resources Intrinsic Value Calculator

GoodWhale has conducted an analysis of COMSTOCK RESOURCES welfare and have come to the conclusion that the fair value of their shares is around $8.9. This figure has been calculated using our proprietary Valuation Line. At present, the stock is trading at $9.2, which is a fair price that is slightly overvalued by 3.0%. We recommend investors to perform their own due diligence before deciding on whether to buy, sell or hold this stock. More…

Peers

Comstock Resources Inc. is an American oil and gas company engaged in the exploration, development, production and acquisition of properties in the United States. The company’s core areas of operation are in the states of Texas and Louisiana. The company’s main competitors are Antero Resources Corp, EQT Corp, and CNX Resources Corp. Comstock Resources Inc. has a market capitalization of $2.6 billion as of February 2018, while its competitors have market capitalizations of $13.4 billion (Antero Resources Corp), $11.5 billion (EQT Corp), and $3.4 billion (CNX Resources Corp), respectively.

– Antero Resources Corp ($NYSE:AR)

Antero Resources is a natural gas and oil company that operates in the Appalachian Basin. The company has a market capitalization of $10.83 billion as of 2022 and a return on equity of 15.98%. Antero Resources is engaged in the exploration, development, and production of natural gas and oil properties in the United States. The company was founded in 2002 and is headquartered in Denver, Colorado.

– EQT Corp ($NYSE:EQT)

EQT Corporation is a publicly traded natural gas and oil exploration and production company with operations in the United States and Canada. The company has a market cap of $14.63 billion as of 2022 and a return on equity of -5.33%. EQT Corporation is one of the largest producers of natural gas in the United States and is headquartered in Pittsburgh, Pennsylvania.

– CNX Resources Corp ($NYSE:CNX)

CNX Resources Corp is a publicly traded natural gas and oil exploration and production company with a market cap of $3.46 billion as of March 2022. The company’s primary operations are in the Appalachian Basin, which includes the Marcellus Shale and Utica Shale plays. CNX Resources was founded in 1987 and is headquartered in Canonsburg, Pennsylvania.

Summary

Comstock Resources is facing a period of purgatory until 2024, as its growth has stagnated. Investment analysts have noted that this stagnation is largely due to the company’s reliance on natural gas and oil prices, which remain low. Comstock has taken steps to mitigate its reliance on these commodities, including diversifying into renewable energy sources and reducing debt.

Despite these moves, it is unlikely that the company will see any significant improvements in its stock price until oil and gas prices recover. In the meantime, investors may want to look at other options before committing to Comstock.