Massive Sell-Off: 10 Stocks in a Bloodbath

6. Comstock Resources, Inc. (NYSE:CRK)

Comstock Resources fell by 14.05 percent on Thursday to end at $17.87 apiece as investors took path from a pessimistic outlook and a lower price target from an investment firm.

In a market note, UBS further downgraded Comstock Resources, Inc. (NYSE:CRK) to a “sell” recommendation after lowering it to “neutral” on July 10. It also reduced its price target to $18 from $20 previously.

According to UBS, Comstock Resources, Inc. (NYSE:CRK) currently faces potential downside risks, including lower natural gas prices, underscoring an approximately 0.5 Bcfpd oversupplied balance that could cause risks due to its leverage position and low free cash flow generation.

In other news, Comstock Resources, Inc. (NYSE:CRK) swung to an attributable net income of $125 million from a $126 million net loss in the same period last year.

Total revenues surged by 90 percent to $270 million from $246.8 million year-on-year.