Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) Short Interest Update

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) saw a significant growth in short interest in July. As of July 14th, there was short interest totalling 11,059,676 shares, a growth of 12.7% from the June 30th total of 9,815,468 shares. Currently, 17.9% of the company’s shares are sold short. Based on an average daily trading volume, of 4,673,463 shares, the days-to-cover ratio is currently 2.4 days.

In other news, Director Steven A. Webster acquired 29,700 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average price of $13.36 per share, for a total transaction of $396,792.00. Following the completion of the acquisition, the director now owns 2,724,410 shares of the company’s stock, valued at approximately $36,398,117.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven A. Webster acquired 75,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average price of $13.89 per share, for a total transaction of $1,041,750.00. Following the acquisition, the director now directly owns 2,724,410 shares of the company’s stock, valued at approximately $37,842,054.90. The disclosure for this purchase can be found here. Insiders bought 256,600 shares of company stock valued at $3,498,306 over the last three months. 6.00% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in CRZO. Dynamic Technology Lab Private Ltd boosted its stake in shares of Carrizo Oil & Gas by 260.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 102,641 shares of the oil and gas producer’s stock valued at $1,787,000 after buying an additional 74,193 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Carrizo Oil & Gas during the second quarter valued at approximately $467,000. Piedmont Investment Advisors LLC bought a new position in shares of Carrizo Oil & Gas during the second quarter valued at approximately $288,000. The Manufacturers Life Insurance Company raised its position in shares of Carrizo Oil & Gas by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 49,233 shares of the oil and gas producer’s stock valued at $858,000 after buying an additional 1,432 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Carrizo Oil & Gas by 1,207.0% in the second quarter. Cubist Systematic Strategies LLC now owns 47,731 shares of the oil and gas producer’s stock worth $831,000 after buying an additional 44,079 shares during the period. 91.93% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on CRZO shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $43.00 target price on shares of Carrizo Oil & Gas in a research report on Tuesday, April 25th. Williams Capital reissued a “buy” rating and set a $42.00 price objective on shares of Carrizo Oil & Gas in a report on Tuesday, May 9th. Jefferies Group LLC set a $36.00 price objective on Carrizo Oil & Gas and gave the company a “buy” rating in a report on Wednesday, May 17th. Robert W. Baird cut their price objective on Carrizo Oil & Gas from $50.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, May 24th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $38.00 price objective on shares of Carrizo Oil & Gas in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $40.00.

Shares of Carrizo Oil & Gas (NASDAQ CRZO) opened at 13.72 on Friday. The company’s market capitalization is $1.12 billion. Carrizo Oil & Gas has a 52-week low of $12.73 and a 52-week high of $43.96. The stock’s 50 day moving average price is $15.27 and its 200-day moving average price is $23.69.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The company had revenue of $166.50 million during the quarter, compared to the consensus estimate of $163.22 million. Carrizo Oil & Gas had a negative net margin of 0.98% and a positive return on equity of 1,494.45%. The firm’s quarterly revenue was up 55.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. On average, equities analysts expect that Carrizo Oil & Gas will post $1.03 earnings per share for the current year.

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About Carrizo Oil & Gas

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.

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