Comstock Resources Inc. (NYSE:CRK) shares dropped 4.1% during trading on Wednesday . The stock traded as low as $3.80 and last traded at $3.95, with a volume of 195,367 shares traded. The stock had previously closed at $4.12.

A number of analysts have recently issued reports on CRK shares. Robert W. Baird reissued a “neutral” rating on shares of Comstock Resources in a research report on Wednesday, April 20th. Zacks Investment Research lowered shares of Comstock Resources from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Comstock Resources currently has a consensus rating of “Hold” and an average price target of $9.00.

The firm’s 50-day moving average is $4.08 and its 200 day moving average is $4.36. The firm’s market cap is $49.27 million.

Comstock Resources (NYSE:CRK) last announced its quarterly earnings data on Monday, August 1st. The company reported ($4.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by $3.39. The business earned $40.72 million during the quarter, compared to analysts’ expectations of $39.16 million. The company’s revenue was down 47.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.11) earnings per share. On average, equities research analysts expect that Comstock Resources Inc. will post ($13.13) EPS for the current year.

An institutional investor recently raised its position in Comstock Resources stock. California Public Employees Retirement System increased its stake in Comstock Resources Inc. (NYSE:CRK) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,051,656 shares of the company’s stock after buying an additional 145,700 shares during the period. California Public Employees Retirement System owned about 2.20% of Comstock Resources worth $1,967,000 as of its most recent filing with the SEC.

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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