Carrizo Oil & Gas, Inc. (CRZO) Shares Gap Down to $16.67

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $17.03, but opened at $16.67. Carrizo Oil & Gas shares last traded at $16.28, with a volume of 4,568,941 shares changing hands.

A number of equities research analysts recently weighed in on CRZO shares. Mizuho restated a “buy” rating and issued a $32.00 target price on shares of Carrizo Oil & Gas in a report on Friday, June 30th. BMO Capital Markets set a $20.00 target price on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a report on Monday, June 26th. Williams Capital set a $35.00 target price on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a report on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating and issued a $25.00 target price (down previously from $64.00) on shares of Carrizo Oil & Gas in a report on Tuesday, August 29th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $23.00 target price on shares of Carrizo Oil & Gas in a report on Friday, September 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Carrizo Oil & Gas has a consensus rating of “Hold” and an average price target of $33.74.

The firm’s 50-day moving average price is $14.68 and its 200-day moving average price is $19.11. The company’s market capitalization is $1.33 billion.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. Carrizo Oil & Gas had a negative net margin of 0.98% and a positive return on equity of 1,494.45%. The firm had revenue of $166.50 million during the quarter, compared to analysts’ expectations of $163.22 million. During the same period in the previous year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was up 55.2% on a year-over-year basis. On average, analysts anticipate that Carrizo Oil & Gas, Inc. will post $1.06 earnings per share for the current fiscal year.

In other Carrizo Oil & Gas news, Director Steven A. Webster bought 75,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $13.89 per share, for a total transaction of $1,041,750.00. Following the completion of the transaction, the director now owns 2,724,410 shares of the company’s stock, valued at approximately $37,842,054.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven A. Webster bought 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average price of $12.67 per share, with a total value of $316,750.00. Following the completion of the transaction, the director now directly owns 2,826,310 shares of the company’s stock, valued at approximately $35,809,347.70. The disclosure for this purchase can be found here. Insiders have bought 431,600 shares of company stock valued at $5,602,306 over the last three months. 6.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Carrizo Oil & Gas by 11.4% during the second quarter. BlackRock Inc. now owns 9,534,149 shares of the oil and gas producer’s stock valued at $166,088,000 after buying an additional 978,942 shares during the period. Vanguard Group Inc. grew its position in Carrizo Oil & Gas by 6.7% during the second quarter. Vanguard Group Inc. now owns 6,427,895 shares of the oil and gas producer’s stock valued at $111,975,000 after buying an additional 405,188 shares during the period. Frontier Capital Management Co. LLC grew its position in Carrizo Oil & Gas by 17.0% during the second quarter. Frontier Capital Management Co. LLC now owns 4,905,089 shares of the oil and gas producer’s stock valued at $85,447,000 after buying an additional 714,257 shares during the period. State Street Corp grew its position in Carrizo Oil & Gas by 28.7% during the second quarter. State Street Corp now owns 3,815,021 shares of the oil and gas producer’s stock valued at $66,454,000 after buying an additional 850,815 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in Carrizo Oil & Gas by 89.5% during the second quarter. Lord Abbett & CO. LLC now owns 2,659,107 shares of the oil and gas producer’s stock valued at $46,322,000 after buying an additional 1,256,160 shares during the period.

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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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