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Comstock Resources (CRK) Outpaces Stock Market Gains: What You Should Know

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Comstock Resources (CRK - Free Report) closed the most recent trading day at $10.70, moving +0.56% from the previous trading session. This change outpaced the S&P 500's 0.18% gain on the day.

Coming into today, shares of the oil and gas company had gained 2.9% in the past month. In that same time, the Oils-Energy sector gained 12.26%, while the S&P 500 gained 2.96%.

CRK will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2021. In that report, analysts expect CRK to post earnings of $0.34 per share. This would mark year-over-year growth of 666.67%. Meanwhile, our latest consensus estimate is calling for revenue of $413.58 million, up 132.33% from the prior-year quarter.

CRK's full-year Zacks Consensus Estimates are calling for earnings of $1.28 per share and revenue of $1.49 billion. These results would represent year-over-year changes of +456.52% and +74.03%, respectively.

Investors might also notice recent changes to analyst estimates for CRK. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 16.67% higher within the past month. CRK is currently a Zacks Rank #1 (Strong Buy).

In terms of valuation, CRK is currently trading at a Forward P/E ratio of 8.29. This represents a discount compared to its industry's average Forward P/E of 10.76.

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 4, which puts it in the top 2% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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