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Why Comstock Resources (CRK) Could Be Positioned for a Surge

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Comstock Resources, Inc. (CRK - Free Report) is a is a growing independent energy company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CRK’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Comstock Resources could be a solid choice for investors.
Current Quarter Estimates for CRK

In the past 30 days, two estimates have gone higher for Comstock Resources while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 21 cents a share 30 days ago, to 25 cents today, a move of 19%.

Current Year Estimates for CRK

Meanwhile, Comstock Resources’ current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 67 cents per share 30 days ago to 79 cents today, an increase of 17.9%. 

Comstock Resources, Inc. Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 50.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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