Baird Maintains Comstock Resources Inc to Neutral with Price Target $10.00

Brokerage firm Baird Maintains its rating on Comstock Resources Inc(NYSE:CRK). In a research note issued to the investors, the brokerage major Raises the price-target to $10.00 per share. The shares have been rated Neutral. The rating by Baird was issued on Sep 15, 2016.

Comstock Resources Inc (CRK) shares turned negative on Tuesdays trading session with the shares closing down -0.11 points or -1.54% at a volume of 6,12,304. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.28. The peak price level was also seen at $7.28 while the days lowest was $6.5. Finally the shares closed at $7.05. The 52-week high of the shares is $16.9 while the 52-week low is $2.64. According to the latest information available, the market cap of the company is $88 M.

Comstock Resources Inc(CRK) last announced its earnings results on Aug 1, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $40.72M. Analysts had an estimated revenue of $38.99M. Earnings per share were $-0.81. Analysts had estimated an EPS of $-0.69.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Carl H Westcott (10% owner) sold 28,500 shares at $0.72 per share price.Also, On Dec 23, 2015, Russell W Romoser (VP of Reservoir Engineering) sold 1,000 shares at $1.86 per share price.On Dec 23, 2015, Daniel K Presley (VP of Accounting) sold 4,000 shares at $1.84 per share price, according to the Form-4 filing with the securities and exchange commission.

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’s oil and gas operations are concentrated in Texas and Louisiana. Its operations are focused in two operating areas: East Texas/North Louisiana and South Texas. The Company’s properties in the East Texas/North Louisiana region include approximately 81294 acres in the Haynesville or Bossier shale formations. The Company’s Eagleville field includes approximately 31459 acres located in the oil window of the Eagle Ford shale in South Texas. The Company also has approximately 35322 acres in the oil window of the Eagle Ford shale in or near Burleson County Texas. It has approximately 91208 acres in Mississippi and Louisiana. The Company owns interests in around 1596 producing oil and natural gas wells and operates 962 of these wells.

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