Monday, April 30, 2018

Analyst: Comstock Resources’ Deal With Jerry Jones ‘Bold’

The deal by Comstock Resources Inc. (NYSE: CRK) to swap out 88.6 million shares for Jerry Jones’ Bakken oil production is being viewed positively by analysts and investors as shares rose after the announcement. Analysts from Seaport Global and Coker Palmer said the deal, which calls for Jerry Jones, owner of the Dallas Cowboys Football Club Ltd. to own 84% is a step in the right direction for Comstock Resources and brings about significant upside as shares of the stock nearly doubled the day after the deal was announced. “We’re convinced that getting married to the owner of the Dallas Cowboys (Jones now has 84% of the equity) was actually an excellent path to go down,” said Seaport Global in a research note.

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