Critical Comparison: ATP Oil & Gas (OTCMKTS:ATPAQ) and Comstock Resources (NYSE:CRK)

ATP Oil & Gas (OTCMKTS:ATPAQ) and Comstock Resources (NYSE:CRK) are both mining companies, but which is the superior business? We will contrast the two companies based on the strength of their analyst recommendations, risk, earnings, dividends, institutional ownership, valuation and profitability.

Earnings and Valuation

This table compares ATP Oil & Gas and Comstock Resources”s top-line revenue, earnings per share and valuation.

	Gross Revenue	Price/Sales Ratio	Net Income	Earnings Per Share	Price/Earnings Ratio
ATP Oil & Gas	N/A	N/A	N/A	N/A	N/A
Comstock Resources	$1.57 billion	2.83	$211.12 million	($0.18)	-84.22

Comstock Resources has higher revenue and earnings than ATP Oil & Gas.

Profitability

This table compares ATP Oil & Gas and Comstock Resources’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
ATP Oil & Gas	N/A	N/A	N/A
Comstock Resources	-4.93%	-3.88%	-1.48%

Insider and Institutional Ownership

36.1% of Comstock Resources shares are held by institutional investors. 2.0% of Comstock Resources shares are held by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a company will outperform the market over the long term.

Analyst Ratings

This is a summary of recent recommendations for ATP Oil & Gas and Comstock Resources, as provided by MarketBeat.com.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
ATP Oil & Gas	0	0	0	0	0.00
Comstock Resources	4	7	2	0	1.85

Comstock Resources has a consensus target price of $10.31, suggesting a potential downside of 31.98%. Given ATP Oil & Gas’ higher possible upside, equities analysts clearly believe ATP Oil & Gas is more favorable than Comstock Resources.

Summary

Comstock Resources beats ATP Oil & Gas on 5 of the 9 factors compared between the two stocks.

About ATP Oil & Gas

ATP Oil & Gas Corporation is engaged in the acquisition, development and production of oil and natural gas properties. As of December 31, 2011, the Company had estimated net proved reserves of 118.9 Million barrels of crude oil equivalent (MMBoe), of which approximately 75.9 MMboe (64%) were in the Gulf of Mexico and 42.9 MMBoe (36%) were in the North Sea. The reserves consisted of 78.6 Million barrels (MMBbls) of oil (66%) and 241.5 billion cubic feet (Bcf) of natural gas (34%). Its proved reserves in the deepwater area of the Gulf of Mexico account for 62% of the Company’s total proved reserves and its proved reserves on the Gulf of Mexico Outer Continental Shelf account for 2% of its total proved reserves. During the year ended December 31, 2011, it acquired three licenses in the Mediterranean Sea covering potential natural gas resources in the deepwater off the coast of Israel (East Mediterranean). On August 17, 2012, ATP Oil And Gas Corp filed for Chapter 11 bankruptcy protection.

About Comstock Resources

Comstock Resources, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas. Comstock Resources, Inc. is a subsidiary of Arkoma Drilling, L.P.