Shares of Comstock Resources Inc. (NYSE:CRK) dropped 9.1% on Wednesday . The stock traded as low as $5.50 and last traded at $5.57, with a volume of 1,115,285 shares changing hands. The stock had previously closed at $6.13.

Separately, Zacks Investment Research raised Comstock Resources from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a report on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Comstock Resources presently has a consensus rating of “Hold” and an average price target of $9.00.

The firm’s 50-day moving average price is $4.22 and its 200 day moving average price is $4.28. The stock’s market cap is $81.53 million.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings data on Monday, August 1st. The company reported ($4.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by $3.39. During the same period in the prior year, the firm earned ($1.11) earnings per share. The company earned $40.72 million during the quarter, compared to the consensus estimate of $39.16 million. Comstock Resources’s revenue for the quarter was down 47.3% compared to the same quarter last year. Equities analysts anticipate that Comstock Resources Inc. will post ($14.26) earnings per share for the current year.

Comstock Resources, Inc is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana.

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