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Comstock Resources (CRK) Dips More Than Broader Markets: What You Should Know

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Comstock Resources (CRK) closed at $21.20 in the latest trading session, marking a -1.3% move from the prior day. This move lagged the S&P 500's daily loss of 1.08%. Meanwhile, the Dow lost 0.81%, and the Nasdaq, a tech-heavy index, added 0.22%.

Prior to today's trading, shares of the oil and gas company had gained 45.33% over the past month. This has outpaced the Oils-Energy sector's gain of 10.73% and the S&P 500's gain of 1.03% 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 $0.77 per share. This would mark year-over-year growth of 250%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $594.67 million, up 73.02% from the year-ago period.

CRK's full-year Zacks Consensus Estimates are calling for earnings of $3.59 per share and revenue of $2.56 billion. These results would represent year-over-year changes of +209.48% and +38.31%, respectively.

Investors might also notice recent changes to analyst estimates for Comstock Resources. These revisions help to show the ever-changing nature of near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 12.38% higher. Comstock Resources currently has a Zacks Rank of #1 (Strong Buy).

Investors should also note Comstock Resources's current valuation metrics, including its Forward P/E ratio of 5.99. This represents a discount compared to its industry's average Forward P/E of 6.15.

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 16, which puts it in the top 7% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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