|Bid||9.36 x 3000|
|Ask||11.50 x 2200|
|Day's Range||9.20 - 10.08|
|52 Week Range||4.17 - 10.70|
|Beta (3Y Monthly)||3.05|
|PE Ratio (TTM)||10.83|
|Earnings Date||Nov 6, 2019 - Nov 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||9.02|
Sep.04 -- Jerry Jones, Dallas Cowboys owner and Comstock Resources majority investor, discusses why he's investing in the natural-gas industry with Bloomberg's Vonnie Quinn on "Bloomberg Markets."
(Bloomberg) -- Comstock Resources Inc. has something other Texas drillers don’t -- access to Jerry Jones’ bank account.The billionaire owner of the National Football League’s Dallas Cowboys also controls 75% of Comstock, whose shares have surged 85% this year. Lately, investors heard “that Jones still has plenty of dry powder earmarked” for the company, New York-based investment bank Seaport Global Securities LLC said in a note to clients.At a recent “non-deal road show,” Comstock management said Jones isn’t “afraid to inject another $1.1 billion into the company when the opportunity presents itself,” Seaport analyst Mike Kelly wrote. That would match the $1.1 billion that Jones has already put into Comstock over the past 1.5 years, Seaport said, and his continued presence is a major positive for the driller at a time when many oil and gas companies’ find it tough to access the capital markets.One answer to that dearth of capital in the oil patch has been the joint venture announced earlier this week between billionaire Sam Zell and Tom Barrack Jr.’s Colony Capital Inc., which will let investors skirt management teams and directly own crude and natural gas assets.So-called DrillCos, which use third-party capital to help exploration and production companies fund their capital spending programs, could emerge in the current environment, but that structure is more of a “vehicle of last resort,” according to Bloomberg Intelligence analyst Vincent Piazza.Comstock told Seaport that Jones is committed to helping it reduce its borrowings, while also establishing a positive reputation among minority shareholders. Jones defended his bet on shale gas earlier this month, despite the 14% slide in domestic gas prices this year in the midst of glutted supplies.Seaport reiterated a buy recommendation on Comstock and boosted its price target to $11 from $8, saying the driller has “a long runway of some of the highest rate of return inventory in the space, an advantaged geographical footprint that capitalizes on strong Gulf Coast gas prices, and near unrestricted access to the Bank of Jerry Jones.”To contact the reporter on this story: Michael Bellusci in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Scott Schnipper, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Cowboys owner Jerry defended his approach to the Ezekiel Elliott contract negotiation, and said he’s happy with the result.
(Bloomberg) -- Jerry Jones, the billionaire owner of the Dallas Cowboys, said his bet on shale gas in the southern U.S. is well placed even after prices slumped.Domestic natural gas is down 19% this year amid a supply glut. Despite that, Jones’s Comstock Resources Inc. bought Covey Park Energy LLC in July to add operations in the Haynesville shale basin. The area is close to the coast and convenient for the export of natural gas liquids, Jones said Wednesday in an interview with Bloomberg Television.The Haynesville is “the most efficient place in the world to have natural gas and our market is right there,” said Jones, 76. “Comstock fits and checks all the boxes. I’m excited. Consequently, I put over $1.5 billion of my personal money into this area.”Comstock shares rose as much as 20%, their biggest intraday gain since April last year. Jones controls 75% of the company, and his fortune rose by about $100 million Wednesday to $6 billion, according to the Bloomberg Billionaires Index. He’s the 103rd-richest American.Comstock is competitive despite the challenges in the gas sector, Jones added. “The industry does not in any way dictate the promise of the individual or company in the industry,” he said.\--With assistance from Pierre Paulden.To contact the reporters on this story: Simon Casey in New York at firstname.lastname@example.org;Vonnie Quinn in New York at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Comstock Resources, Inc. (CRK) ("Comstock" or the "Company") today announced that it has appointed Ronald Mills as Vice President of Finance and Investor Relations. Mr. Mills is joining the Comstock's new management team put in place with the Company's recent $2.2 billion acquisition of Covey Park Energy LLC and will assist the Company with the corporate planning, capital markets transactions and investor relations. Mr. Mills brings almost 25 years of financial experience in the energy industry. Prior to joining Comstock, he spent his career at Johnson Rice & Company LLC covering small to mid-cap independent exploration companies. For the past 15 years, he served as senior exploration and production research analyst.
Comstock Resources' (CRK) second-quarter natural gas production, accounting for 91% of the total output, climbs 88% from the same period last year.
Frisco, TX, Aug. 07, 2019 -- COMSTOCK RESOURCES, INC. REPORTSSECOND QUARTER 2019 FINANCIAL AND OPERATING RESULTS FRISCO, TEXAS, August 7, 2019 – Comstock Resources, Inc..
Frisco, TX, July 23, 2019 -- COMSTOCK RESOURCES, INC. ANNOUNCESSECOND QUARTER 2019 EARNINGS DATE AND CONFERENCE CALL INFORMATION FRISCO, TEXAS, July 23, 2019 --.
Moody's Investors Service ("Moody's") upgraded Comstock Resources, Inc.'s (Comstock) Corporate Family Rating (CFR) to B2 from B3 and its Probability of Default Rating (PDR) to B2-PD from B3-PD. Concurrently, Moody's upgraded the senior unsecured notes rating to B3 from Caa1 at Comstock Escrow Corporation (the original issuer of the notes which were subsequently assumed by Comstock pursuant to a merger of the two).
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
In view of Callon Petroleum's (CPE) already weak financials, the company's decision to pay a premium with shares to assume Carrizo's debt load and scattered assets gets tepid response from investors.
Frisco, TX, July 16, 2019 -- COMSTOCK RESOURCES ANNOUNCES CLOSING OF COVEY PARK ENERGY MERGER FRISCO, TX, July 16, 2019 - Comstock Resources, Inc..
Marathon Oil's (MRO) strategic portfolio in key resource-shale plays like Bakken, Eagle Ford, Permian and STACK/SCOOP signals visible production growth in the upcoming years.
This seems weird, because stock price alone tells you nothing about the merits of an investment. If you turn to the stock market for thrills, you should put all your money in CDs. As market expert Martin Pring once pointed out, the stock market is designed to exploit your character flaws to take your money.
Comstock Resources (CRK) agreed to buy Cover Park Energy for $2.2 billion. Meanwhile, Royal Dutch Shell (RDS.A) pledged to return at least $125 billion to its shareholders between 2021 and 2025.
Natural gas producer Comstock Resources Inc. announced it agreed to purchase Covey Park for $2.2 billion, making it the leader in the Haynesville Shale —and three Texas law firms played a part.