Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05, Bloomberg Earnings reports. Carrizo Oil & Gas had a negative net margin of 0.98% and a positive return on equity of 1,494.45%. The company had revenue of $166.50 million during the quarter, compared to the consensus estimate of $163.22 million. During the same quarter in the prior year, the company posted $0.29 EPS. The company’s quarterly revenue was up 55.2% compared to the same quarter last year.

Shares of Carrizo Oil & Gas (CRZO) opened at 13.72 on Friday. Carrizo Oil & Gas has a 12 month low of $12.73 and a 12 month high of $43.96. The firm’s market capitalization is $1.12 billion. The firm’s 50-day moving average price is $15.27 and its 200-day moving average price is $23.69.

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In other Carrizo Oil & Gas news, Director Steven A. Webster acquired 29,700 shares of the stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of $13.36 per share, with a total value of $396,792.00. Following the transaction, the director now owns 2,724,410 shares in the company, valued at approximately $36,398,117.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven A. Webster acquired 75,000 shares of the stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $13.89 per share, with a total value of $1,041,750.00. Following the completion of the transaction, the director now owns 2,724,410 shares in the company, valued at approximately $37,842,054.90. The disclosure for this purchase can be found here. Over the last three months, insiders bought 256,600 shares of company stock valued at $3,498,306. Corporate insiders own 6.00% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its stake in shares of Carrizo Oil & Gas by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 6,760 shares of the oil and gas producer’s stock worth $193,000 after buying an additional 120 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Carrizo Oil & Gas by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,990 shares of the oil and gas producer’s stock worth $401,000 after buying an additional 140 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Carrizo Oil & Gas by 2.2% in the first quarter. Blair William & Co. IL now owns 8,390 shares of the oil and gas producer’s stock worth $242,000 after buying an additional 181 shares during the last quarter. Chicago Equity Partners LLC raised its stake in shares of Carrizo Oil & Gas by 1.5% in the first quarter. Chicago Equity Partners LLC now owns 16,705 shares of the oil and gas producer’s stock worth $479,000 after buying an additional 250 shares during the last quarter. Finally, First Midwest Bank Trust Division raised its stake in shares of Carrizo Oil & Gas by 3.3% in the first quarter. First Midwest Bank Trust Division now owns 8,681 shares of the oil and gas producer’s stock worth $249,000 after buying an additional 280 shares during the last quarter. 91.93% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on CRZO shares. J P Morgan Chase & Co cut Carrizo Oil & Gas from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $30.00 to $21.00 in a research note on Thursday, July 20th. BMO Capital Markets set a $20.00 target price on Carrizo Oil & Gas and gave the company a “buy” rating in a research note on Monday, June 26th. BidaskClub upgraded Carrizo Oil & Gas from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada set a $40.00 target price on Carrizo Oil & Gas and gave the company a “buy” rating in a research note on Thursday, May 11th. Finally, Mizuho restated a “buy” rating and set a $32.00 price objective on shares of Carrizo Oil & Gas in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $40.00.

Carrizo Oil & Gas Company Profile

Carrizo Oil & Gas, Inc is an energy company. The Company is engaged in the exploration, development and production of oil and gas from resource plays located in the United States. Its operations are focused in proven, producing oil and gas plays in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania.

Earnings History for Carrizo Oil & Gas (NASDAQ:CRZO)

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