RRC - Comstock Resources: Attractive Valuation And Strengthening Balance Sheet

• Comstock Resources is a little-known E&P producing natural gas in the Haynesville Shale.
• The company's finances improved significantly in the first quarter due to high natural gas prices, helping it to begin reducing its debt.
• It still has a way to go to get its debt down to the level of its peers, but the current valuation reflects that.
• The fundamentals point to the likelihood of high natural gas prices over the long term.
• Comstock Resources' stock offers an attractive valuation relative to peers so it might be worth building a position in while the company gets its debt under control.

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