Has Comstock Resources (CRK) Outpaced Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Comstock Resources (CRK) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Comstock Resources is one of 255 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CRK is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CRK's full-year earnings has moved 35.34% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CRK has returned about 121.51% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 38.61% on average. As we can see, Comstock Resources is performing better than its sector in the calendar year.
Looking more specifically, CRK belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 43 individual stocks and currently sits at #7 in the Zacks Industry Rank. Stocks in this group have gained about 117.65% so far this year, so CRK is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to CRK as it looks to continue its solid performance.
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