Executive Summary
Comstock Resources, Inc., an independent energy company, engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota.
Snowflake Analysis
Reasonable growth potential and fair value.
Similar Companies
Share Price & News
How has Comstock Resources's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CX91's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
21.6%
CX91
6.4%
DE Oil and Gas
-0.6%
DE Market
1 Year Return
-15.2%
CX91
25.9%
DE Oil and Gas
-20.9%
DE Market
Return vs Industry: CX91 underperformed the German Oil and Gas industry which returned 26.2% over the past year.
Return vs Market: CX91 underperformed the German Market which returned -17.2% over the past year.
Shareholder returns
| CX91 | Industry | Market | |
|---|---|---|---|
| 7 Day | 21.6% | 6.4% | -0.6% |
| 30 Day | 19.4% | -13.2% | -18.6% |
| 90 Day | -26.2% | -25.2% | -26.2% |
| 1 Year | -15.2%-15.2% | 29.4%25.9% | -18.6%-20.9% |
| 3 Year | n/a | -12.8%-20.4% | -19.0%-25.8% |
| 5 Year | n/a | 195.0%150.8% | -21.2%-31.8% |
Price Volatility Vs. Market
How volatile is Comstock Resources's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Comstock Resources undervalued compared to its fair value and its price relative to the market?
12.4x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: CX91 (€4.58) is trading above our estimate of fair value (€3.9)
Significantly Below Fair Value: CX91 is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: CX91 is poor value based on its PE Ratio (10.4x) compared to the Oil and Gas industry average (5.9x).
PE vs Market: CX91 is good value based on its PE Ratio (10.4x) compared to the German market (16.8x).
Price to Earnings Growth Ratio
PEG Ratio: CX91 is good value based on its PEG Ratio (0.4x)
Price to Book Ratio
PB vs Industry: CX91 is good value based on its PB Ratio (0.9x) compared to the DE Oil and Gas industry average (1x).
Next Steps
Future Growth
How is Comstock Resources forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
26.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CX91's forecast earnings growth (26.8% per year) is above the savings rate (-0.4%).
Earnings vs Market: CX91's earnings (26.8% per year) are forecast to grow faster than the German market (14.5% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CX91's revenue (15.4% per year) is forecast to grow faster than the German market (4.1% per year).
High Growth Revenue: CX91's revenue (15.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if CX91's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Comstock Resources performed over the past 5 years?
30.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CX91 has a large one-off loss of $41.0M impacting its December 31 2019 financial results.
Growing Profit Margin: CX91 became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: CX91 has become profitable over the past 5 years, growing earnings by 30% per year.
Accelerating Growth: CX91 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: CX91 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-4.1%).
Return on Equity
High ROE: CX91's Return on Equity (6.4%) is considered low.
Next Steps
Financial Health
How is Comstock Resources's financial position?
Financial Position Analysis
Short Term Liabilities: CX91's short term assets ($289.7M) do not cover its short term liabilities ($392.4M).
Long Term Liabilities: CX91's short term assets ($289.7M) do not cover its long term liabilities ($2.7B).
Debt to Equity History and Analysis
Debt Level: CX91's debt to equity ratio (164.2%) is considered high.
Reducing Debt: Insufficient data to determine if CX91's debt to equity ratio has reduced over the past 5 years.
Balance Sheet
Inventory Level: CX91 has a high level of physical assets or inventory.
Debt Coverage by Assets: CX91's debt is not covered by short term assets (assets are 0.1x debt).
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: CX91 is profitable, therefore cash runway is not a concern.
Forecast Cash Runway: CX91 is profitable, therefore cash runway is not a concern.
Next Steps
Dividend
What is Comstock Resources's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate CX91's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate CX91's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if CX91's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if CX91's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of CX91's dividend in 3 years as they are not forecast to pay a notable one for the German market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.7yrs
Average management tenure
CEO
Miles Allison (63yo)
32.25s
Tenure
US$8,001,398
Compensation
Mr. Miles Jay Allison Co-founded Midwood Petroleum Inc. in 1983. Mr. Allison has been the Chief Executive Officer of Comstock Resources Inc. since 1988 and served as its President from 1988 to May 8, 2013. ...
CEO Compensation Analysis
Compensation vs Market: Miles's total compensation ($USD8.00M) is above average for companies of similar size in the German market ($USD1.38M).
Compensation vs Earnings: Miles's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 32.25yrs | US$8.00m | 0.68% $7.7m | |
| President | 21.25yrs | US$5.36m | 0.40% $4.5m | |
| Chief Operating Officer | 2.67yrs | US$2.02m | 0.11% $1.2m | |
| VP of Accounting | 23.25yrs | no data | 0.053% $599.1k | |
| Vice President of Finance & Investor Relations | 0.67yr | no data | 0.0088% $99.7k | |
| Senior Vice President of Corporate Development | 0.75yr | no data | 0.020% $230.2k | |
| Vice President of Marketing | 0.75yr | no data | 0.011% $119.2k | |
| Executive Officer | 0.75yr | no data | 0.032% $366.7k |
1.7yrs
Average Tenure
57yo
Average Age
Experienced Management: CX91's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 32.25yrs | US$8.00m | 0.68% $7.7m | |
| President | 21.25yrs | US$5.36m | 0.40% $4.5m | |
| Lead Director | 1.67yrs | US$229.42k | 0.047% $534.1k | |
| Director | 0.75yr | no data | 0.012% $135.4k | |
| Independent Director | 3.25yrs | US$212.64k | 0.039% $446.5k | |
| Director | 0.75yr | no data | 0.012% $135.4k | |
| Independent Director | 6.25yrs | US$219.69k | 0.037% $419.1k |
3.3yrs
Average Tenure
63yo
Average Age
Experienced Board: CX91's board of directors are considered experienced (3.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 186.3%.
Top Shareholders
Company Information
Comstock Resources, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Comstock Resources, Inc.
- Ticker: CX91
- Exchange: DB
- Founded: 1983
- Industry: Oil and Gas Exploration and Production
- Sector: Energy
- Market Cap: US$1.224b
- Listing Market Cap: US$1.134b
- Shares outstanding: 190.00m
- Website: https://www.crkfrisco.com
Number of Employees
Location
- Comstock Resources, Inc.
- Comstock Tower
- Suite 500
- Frisco
- Texas
- 75034
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CRK | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Aug 2018 |
| CX91 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Aug 2018 |
Biography
Comstock Resources, Inc., an independent energy company, engage in the acquisition, exploration for, development, and production of oil and natural gas properties, primarily in Texas, Louisiana, and North Dakota. As of December 31, 2019, the company had 5.3 trillion cubic feet of natural gas equivalent and 16.7 million barrels of oil equivalent of proved reserves. It also owns an interest in 2,800 producing oil and natural gas wells. The company was founded in 1983 and is headquartered in Frisco, Texas.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/06 01:19 |
| End of Day Share Price | 2020/04/03 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.