Is Comstock Resources (CRK) Outperforming Other Oils-Energy Stocks This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Comstock Resources (CRK) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Comstock Resources is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Comstock Resources is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CRK's full-year earnings has moved 53.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CRK has returned 37.7% so far this year. At the same time, Oils-Energy stocks have gained an average of 12.6%. This means that Comstock Resources is outperforming the sector as a whole this year.
One other Oils-Energy stock that has outperformed the sector so far this year is Range Resources (RRC). The stock is up 34.8% year-to-date.
Over the past three months, Range Resources' consensus EPS estimate for the current year has increased 16.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Comstock Resources belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 40 individual stocks and currently sits at #11 in the Zacks Industry Rank. On average, stocks in this group have gained 18.4% this year, meaning that CRK is performing better in terms of year-to-date returns. Range Resources is also part of the same industry.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Comstock Resources and Range Resources as they could maintain their solid performance.
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