Comstock Resources (CRK) Update - Jan 17

[dan_s]

I have updated my forecast model for CRK and I am sticking with my valuation of $20/share.

No reason that I can see for this stock to be trading for less than $10 that I can see. Comstock is generating a lot of free cash flow and proceeds from the Bakken sale that closed in November will make the year-end balance sheet even stronger.

Most of the "Bad Hedges" expired in December 2021, so operating cash flow should increase from $950 million in 2021 to over $1.2 billion in 2022.

Haynesville gas is selling at good prices today.

[charlie1]

Crk Will always trade at a discount because of Jerry Jones. He is a jerk. Wonder where it would trade if Rick Montgreif (MGY) was running it.

[dan_s]

Jerry Jones is not running Comstock. Yes, he is the largest shareholder, but Comstock has a strong management team. I'm sure Jerry is more concerned with the Cowboys these days.