For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Comstock Resources (CRK) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Comstock Resources is one of 245 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #16 in 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 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 #2 (Buy).
The Zacks Consensus Estimate for CRK's full-year earnings has moved 28.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CRK has gained about 30.4% so far this year. At the same time, Oils-Energy stocks have lost an average of 4.1%. 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, Standard Lithium Ltd. (SLI), has outperformed the sector so far this year. The stock's year-to-date return is 19.9%.
Over the past three months, Standard Lithium Ltd.'s consensus EPS estimate for the current year has increased 11.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Comstock Resources belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 36 individual stocks and currently sits at #210 in the Zacks Industry Rank. This group has lost an average of 24.6% so far this year, so CRK is performing better in this area.
Standard Lithium Ltd. however, belongs to the Alternative Energy - Other industry. Currently, this 44-stock industry is ranked #157. The industry has moved +16% so far this year.
Investors interested in the Oils-Energy sector may want to keep a close eye on Comstock Resources and Standard Lithium Ltd. as they attempt to continue their solid performance.
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Comstock Resources, Inc. (CRK): Free Stock Analysis Report Standard Lithium Ltd. (SLI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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