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Comstock Resources (CRK) Gains As Market Dips: What You Should Know

Zacks Equity Research
·3 min read

Comstock Resources (CRK) closed the most recent trading day at $13.66, moving +0.37% from the previous trading session. The stock outpaced the S&P 500's daily loss of 2.01%. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.1%.

Coming into today, shares of the oil and gas company had lost 34.09% in the past month. In that same time, the Oils-Energy sector lost 13.54%, while the S&P 500 lost 6.08%.

Comstock Resources will be looking to display strength as it nears its next earnings release. In that report, analysts expect Comstock Resources to post earnings of $0.77 per share. This would mark year-over-year growth of 250%. Meanwhile, our latest consensus estimate is calling for revenue of $594.67 million, up 73.02% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.59 per share and revenue of $2.56 billion. These totals would mark changes of +209.48% and +38.31%, respectively, from last year.

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It is also important to note the recent changes to analyst estimates for Comstock Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 6.7% higher. Comstock Resources is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Comstock Resources's current valuation metrics, including its Forward P/E ratio of 3.8. For comparison, its industry has an average Forward P/E of 4.6, which means Comstock Resources is trading at a discount to the group.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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