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Comstock Resources, Inc. (CRK)

NYSE - Nasdaq Real Time Price. Currency in USD
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5.71-0.10 (-1.72%)
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Commodity Channel Index

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Previous Close5.81
Open5.81
Bid5.71 x 3200
Ask5.72 x 3100
Day's Range5.52 - 5.85
52 Week Range4.05 - 8.48
Volume2,349,734
Avg. Volume3,293,777
Market Cap1.327B
Beta (5Y Monthly)1.83
PE Ratio (TTM)N/A
EPS (TTM)-0.39
Earnings DateMay 04, 2021 - May 10, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateDec 03, 2014
1y Target Est7.41
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  • COMSTOCK RESOURCES, INC. ANNOUNCES PRICING OF $1.0 BILLION OFFERING OF NEW SENIOR NOTES DUE 2029
    GlobeNewswire

    COMSTOCK RESOURCES, INC. ANNOUNCES PRICING OF $1.0 BILLION OFFERING OF NEW SENIOR NOTES DUE 2029

    FRISCO, TX, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) ("Comstock" or the "Company") announced today the pricing of its private placement of new 6.75% senior notes due 2029 in the aggregate principal amount of $1.0 billion, which was increased from the originally proposed $750.0 million offering (the "Notes"). The Notes were sold at par. The offering is expected to close on March 4, 2021, subject to customary closing conditions. The aggregate net proceeds from the sale of the Notes are expected to be approximately $984.0 million, after deducting the initial purchasers’ discounts and other offering expenses, and the Company intends to use such proceeds, together with, if necessary, borrowings under its bank credit facility or cash on hand, to fund the concurrent tender offers for a portion of the Company's 7.5% senior notes due 2025 and 9.75% senior notes due 2026 (the "Tender Offers"), including the payment of all premiums, accrued interest, and related fees and expenses incurred in connection therewith, and the excess, if any, for repayment of borrowings under the Company's bank credit facility. The Notes offered have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The senior unsecured notes are expected to be eligible for trading by qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. This press release is being issued pursuant to Rule 135c under the Securities Act ‎ and is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful. About Comstock Resources Comstock Resources is a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas. The Company's stock is traded on the New York Stock Exchange under the symbol CRK. This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct. The Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings discuss important risk factors that could affect the Company’s business, results of operations and financial condition. The forward-looking statements in this news release speak only as of this date. Comstock does not undertake any obligation to revise or update publicly any forward-looking statement. CONTACT: Ron Mills VP of Finance and Investor Relations Comstock Resources 972-668-8834 rmills@comstockresources.com

  • COMSTOCK RESOURCES, INC. ANNOUNCES UPSIZING OF CASH TENDER OFFERS
    GlobeNewswire

    COMSTOCK RESOURCES, INC. ANNOUNCES UPSIZING OF CASH TENDER OFFERS

    FRISCO, TX, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) announced today that it has amended its previously announced cash tender offers (the "Tender Offers") to purchase up to $750.0 million aggregate purchase price (the "Aggregate Maximum Tender Amount") of its outstanding 7.5% senior notes due 2025 (the "2025 Notes") and 9.75% senior notes due 2026 (the "2026 Notes", and together with the 2025 Notes, the "Notes"). The Company has amended the Aggregate Maximum Tender Amount to increase the aggregate purchase price of Notes subject to the Tender Offers from $750.0 million to $1.0 billion, as well as to increase the aggregate maximum principal amount of 2026 Notes to be accepted (the “2026 Combined Cap”) from $325.0 million to $550.0 million. Except as set forth herein with the respect to the increases in the Aggregate Maximum Tender Amount and the 2026 Combined Cap, no other terms of the Tender Offers set forth in the Offer to Purchase dated February 18, 2021 (“Offer to Purchase”) have changed. The Tender Offers are subject to the satisfaction of the conditions described in the Offer to Purchase. Such conditions may be waived by the Company in its sole discretion, subject to applicable law. Any waiver of a condition by the Company will not constitute a waiver of any other condition. The dealer managers for the Tender Offers are BofA Securities and Wells Fargo Securities. Any questions regarding the terms of the Tender Offers should be directed to BofA Securities at ‎(980) 388-3646‎‎ (all call) or debt_advisory@bofa.com or Wells Fargo Securities at (866) 309-6316 (toll-free) or (704) 410-4756 (collect)‎. The information agent and tender agent is D.F. King & Co., Inc. Any questions regarding procedures for tendering Notes or requests for copies of the Offer to Purchase or other documents relating to the Tender Offers should be directed to the information agent for the Tender Offers, D.F. King & Co., Inc. at (800) 284-7175 (toll-free), (212) 269-5550 (all others) or crk@dfking.com. This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The offer is being made solely pursuant to the terms and conditions set forth in the Offer to Purchase. None of Comstock, its board of directors, the trustee for the Notes, the information agent, the dealer managers or any of their respective affiliates makes any recommendation as to whether holders should tender, or refrain from tendering, all or any portion of the principal amount of their Notes pursuant to the Tender Offer. About Comstock Resources Comstock Resources is a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas. The Company's stock is traded on the New York Stock Exchange under the symbol CRK. This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct. The Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings discuss important risk factors that could affect the Company’s business, results of operations and financial condition. The forward-looking statements in this news release speak only as of this date. Comstock does not undertake any obligation to revise or update publicly any forward-looking statement. CONTACT: Ron Mills VP of Finance and Investor Relations Comstock Resources 972-668-8834 rmills@comstockresources.com

  • Moody's

    Comstock Resources, Inc. -- Moody's assigns Caa1 to Comstock's new senior notes; B3 CFR unchanged

    Rating Action: Moody's assigns Caa1 to Comstock's new senior notes; B3 CFR unchangedGlobal Credit Research - 18 Feb 2021New York, February 18, 2021 -- Moody's Investors Service, ("Moody's") assigned a Caa1 rating to Comstock Resources, Inc.'s (Comstock) proposed $750 million of senior unsecured notes due 2029. Comstock's other ratings, including the B3 Corporate Family Rating (CFR), B3-PD Probability of Default Rating (PDR) and Caa1 ratings of the existing senior unsecured notes due 2025 and 2026, as well as the stable outlook remain unchanged. Comstock will use the net proceeds from the new notes to fund a partial tender offer for its existing senior notes.Assignments:..Issuer: Comstock Resources, Inc.....Senior Unsecured Notes, Assigned Caa1 (LGD4)RATINGS RATIONALEComstock's senior unsecured notes are rated Caa1, one notch below the CFR, reflecting their effective subordination to the secured revolver due 2024 (unrated).Comstock's interest expense comprises a substantial portion of the company's overall cost structure so lower rates would improve future cash flow partially offset by upfront premiums to redeem the bonds early.