Comstock Resources (CRK - Free Report) is a Zacks Rank #2 (Buy) that is an independent energy company, acquires, develops, explores, and produces oil and natural gas properties in the United States. Its oil and gas operations are primarily located in East Texas/North Louisiana and South Texas. The company owns interests in 1,575 producing oil and natural gas wells. Comstock has 125 employees and is based in Frisco, Texas.
The company has a market cap of $100 million so it’s on the smaller side. The stock sports Zacks Style Scores of “D” in both Growth and Value. With the price of oil headed higher, watch for these scores to improve.
Looking at the chart below, Comstock’s stock price has been devastated as the price of oil has gone lower. But with oil over $50 again the stock has come back to life, almost tripling off of its 2016 lows. Earnings are on November 2nd and a surprise to the upside on EPS could keep the recent run going. Analysts have been revising estimates higher over the last 90 days, with the current quarter being revised 27% higher.
Weatherford International (WFT - Free Report) is a Zacks Rank #2 (Buy) that operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates through three business groups: Formation Evaluation and Well Construction, Completion and Production, and Land Drilling Rigs. Weatherford has 39,500 employees and is based in Switzerland.
The company has a market cap of $5 billion and a beta of 2.34, so it is extremely volatile. The volatility is due to questions of the price of oil and the company’s ability to profit from lower oil prices. With the recent rise in price, expect the stocks Zacks Style Scores of “D” in both Growth and Value to improve.
Like Comstock, Weatherford has fallen hard with the price of oil. The company has beaten on EPS four out of the last five quarters. Earnings will be after the market close on October 25th, look for a big jump if we see another upside surprise.
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