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Comstock Resources (CRK) Gains But Lags Market: What You Should Know

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Comstock Resources (CRK - Free Report) closed the most recent trading day at $19.05, moving +0.53% from the previous trading session. This change lagged the S&P 500's 0.69% gain on the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.2%.

Heading into today, shares of the oil and gas company had gained 2.54% over the past month, outpacing the Oils-Energy sector's loss of 0.21% and the S&P 500's loss of 9.94% in that time.

Investors will be hoping for strength from Comstock Resources as it approaches its next earnings release. In that report, analysts expect Comstock Resources to post earnings of $1 per share. This would mark year-over-year growth of 194.12%. Meanwhile, our latest consensus estimate is calling for revenue of $756.67 million, up 48.02% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.71 per share and revenue of $2.89 billion. These totals would mark changes of +219.83% and +56.35%, respectively, from last year.

Any recent changes to analyst estimates for Comstock Resources should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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. The Zacks Consensus EPS estimate has moved 13.74% higher within the past month. Comstock Resources is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Comstock Resources's current valuation metrics, including its Forward P/E ratio of 5.11. For comparison, its industry has an average Forward P/E of 5.11, which means Comstock Resources is trading at a no noticeable deviation to the group.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% 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.

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