Hotchkis & Wiley sold its 4,669,830-share stake in Comstock Resources Inc. (CRK, Financial) on March 31.
Comstock Resources is based in Frisco, Texas, and is engaged in the acquisition, development, production and exploration of oil and natural gas with operations concentrated in Texas, Louisiana and Mississippi. The company's proven oil and natural gas reserve base is 91% natural gas and 9% oil and was 59% developed as of Dec. 31, 2015.
Comstock Resources has a market cap of $45.21 million, an enterprise value of $1.16 billion, a P/S ratio of 0.16 and a quick ratio of 1.62.
Comstock Resources is also traded in Germany.
Below is a Peter Lynch Chart for Comstock Resources.
It is likely that the Hotchkis & Wiley team of research analysts thoroughly analyzed Comstock Resources and concluded the company has too many warning signs that may cause bankruptcy for the company in the future. According to GuruFocus, Comstock Resources has multiple severe warning signs.
The company has a Sloan Ratio of -76.55%; higher than 25% or lower than -25%, earnings are more likely to be made up of accruals. The company’s per share revenue has been in decline for the last five years. Comstock Resources' gross margin has also been in long-term decline over the previous nine years at an average of -1.3% annually. The company is also issuing new debt. Over the previous three years Comstock Resources has accumulated $23.10 million of new debt.
Hotchkis & Wiley is an investment firm that was founded in 1980. The firm specializes in long-only value investing and has 59 employees, 21 of whom are specifically dedicated to the firm's research team. The firm believes its research team has given it its biggest differentiation advantage over the course of its 36-year existence. Hotchkis & Wiley's research team has built and developed profiles for more than 1,000 companies of all sizes.
Cheers to your investment success.
