Comstock Resources to Convert Outstanding Series B Convertible Preferred Stock Into 43.75 Million Shares of Common Stock

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Comstock Resources Stock Intrinsic Value – Comstock Resources ($NYSE:CRK), Inc. is an oil and gas company engaged in the exploration, development, acquisition and production of properties in the United States. Comstock is headquartered in Frisco, Texas and its common stock is traded on the New York Stock Exchange under the symbol “CRK”. Comstock announced today that it is converting all of its outstanding series B convertible preferred stock into 43.75 million shares of common stock, effective November 30.

However, Comstock has been seeking to divest its Eagle Ford assets in order to focus on its core properties in Louisiana and East Texas.

Share Price

On Wednesday, Comstock Resources stock opened at $18.5 and closed at $18.4, down by 0.3% from previous closing price of 18.4. Live Quote…

About the Company

VI Analysis – Comstock Resources Stock Intrinsic Value

Comstock Resources Inc. is an American oil and gas exploration and production company headquartered in Frisco, Texas. The company’s operations are primarily focused in the Haynesville Shale and Bossier Shale in east Texas and north Louisiana. Comstock’s fundamentals reflect its long term potential. The fair value of its shares is around $18.0, calculated by VI Line. Now Comstock’s stock is traded at $18.4, a fair price overvalued by 2%. More…

VI 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, Inc. is an American oil and gas company headquartered in Frisco, Texas. The company is engaged in the exploration, development, acquisition, and production of natural gas and crude oil in the United States. Comstock Resources is one of the largest independent oil and gas companies in the United States. Comstock Resources has a strong balance sheet with no debt and $1 billion in cash. The company is well-positioned to weather the current downturn in the oil and gas industry and emerge as a stronger competitor.

Comstock Resources is an attractive investment for those who are bullish on the oil and gas industry. The company’s strong balance sheet and impressive asset base make it a low-risk investment. Comstock Resources also offers investors exposure to the high-growth U.S. shale plays.