Investors looking for stocks in the Oil and Gas - Exploration and Production - United States sector might want to consider either CNX Resources Corporation. (CNX) or Comstock Resources (CRK). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Right now, CNX Resources Corporation. is sporting a Zacks Rank of #2 (Buy), while Comstock Resources has a Zacks Rank of #3 (Hold). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that CNX is likely seeing its earnings outlook improve to a greater extent. However, value investors will care about much more than just this.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

CNX currently has a forward P/E ratio of 14.90, while CRK has a forward P/E of 47.88. We also note that CNX has a PEG ratio of 0.50. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. CRK currently has a PEG ratio of 2.59.

Another notable valuation metric for CNX is its P/B ratio of 1.06. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, CRK has a P/B of 2.58.

These are just a few of the metrics contributing to CNX's Value grade of A and CRK's Value grade of D.

CNX sticks out from CRK in both our Zacks Rank and Style Scores models, so value investors will likely feel that CNX is the better option right now.

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