Is Comstock Resources (CRK) Outperforming Other Oils-Energy Stocks This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group 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 a member of the Oils-Energy sector. This group includes 257 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Comstock Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CRK's full-year earnings has moved 31.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CRK has moved about 108.2% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 28.5%. This means that Comstock Resources is performing better than its sector in terms of year-to-date returns.
Another stock in the Oils-Energy sector, Vaalco Energy (EGY), has outperformed the sector so far this year. The stock's year-to-date return is 123.1%.
The consensus estimate for Vaalco Energy's current year EPS has increased 7.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Comstock Resources is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 41 individual companies and currently sits at #6 in the Zacks Industry Rank. On average, stocks in this group have gained 41.7% this year, meaning that CRK is performing better in terms of year-to-date returns.
In contrast, Vaalco Energy falls under the Oil and Gas - Exploration and Production - International industry. Currently, this industry has 9 stocks and is ranked #13. Since the beginning of the year, the industry has moved +83.9%.
Comstock Resources and Vaalco Energy could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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