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Comstock Resources (CRK) Plunges More Than Broader Markets: What You Need To Know

VSOmstock Resources (CRK) closed at $21.20 in the last trading session, marking a -1.3% move from the previous day. That move lagged the S&P 500’s 1.08% daily loss. Meanwhile, the Dow lost 0.81% and the Nasdaq, a technology-heavy index, added 0.22%.

Prior to today’s session, shares of the oil and gas company had gained 45.33% in the past month. This outpaced the Oil & Energy sector’s gain of 10.73% and the S&P 500’s gain of 1.03% during this period.

Investors are hoping for strength from Comstock Resources ahead of its next earnings release. In that report, analysts expect Comstock Resources to post earnings of $0.77 per share. This would mark an annual growth of 250%. Meanwhile, Zacks consensus estimate for revenue calls for net sales of $594.67 million, up 73.02% from the prior year period.

Zacks consensus estimates for the full year for CRK call for earnings of $3.59 per share and revenue of $2.56 billion. These results would represent year-over-year variations of +209.48% and +38.31%, respectively.

Investors might also notice recent changes in analyst estimates for Comstock Resources. These revisions help show the ever-changing nature of short-term trading trends. Thus, positive revisions to estimates reflect analysts’ optimism about the company’s business and profitability.

Based on our research, we believe that these estimate revisions are directly related to the team’s close stock movements. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven track record of outperformance, with #1 stocks returning an average of +25% per year since 1988. In the past 30 days, our consensus EPS projection has increased by 12.38%. Comstock Resources currently has a Zacks ranking of #1 (Strong Buy).

Investors should also note Comstock Resources’ current valuation metrics, including its forward P/E ratio of 5.99. This represents a discount to the average PER of its sector of 6.15.

The Oil and Gas – Exploration and Production – United States industry is part of the Oil & Energy sector. This industry currently has a Zacks industry ranking of 16, which places it in the top 7% of over 250 industries.

The Zacks Industry Rankings are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to track all of these stock movement metrics, and more, in future trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.