Several other brokerages have also commented on CRZO. Zacks Investment Research lowered Carrizo Oil & Gas from a buy rating to a hold rating in a report on Tuesday. BidaskClub raised Carrizo Oil & Gas from a strong sell rating to a sell rating in a report on Wednesday, July 5th. Mizuho lowered Carrizo Oil & Gas from a buy rating to a neutral rating and cut their price objective for the stock from $32.00 to $17.00 in a report on Thursday, September 7th. Piper Jaffray Companies cut their price objective on Carrizo Oil & Gas from $43.00 to $24.00 and set a neutral rating for the company in a report on Monday, September 18th. Finally, Citigroup Inc. initiated coverage on Carrizo Oil & Gas in a report on Monday, September 18th. They issued a neutral rating and a $16.00 price objective for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $33.74.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Carrizo Oil & Gas had a positive return on equity of 1,494.45% and a negative net margin of 0.98%. The company had revenue of $166.50 million during the quarter, compared to analyst estimates of $163.22 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. Carrizo Oil & Gas’s revenue was up 55.2% compared to the same quarter last year.
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In other Carrizo Oil & Gas news, Director Steven A. Webster acquired 75,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $13.89 per share, with a total value of $1,041,750.00. Following the completion of the purchase, the director now directly owns 2,724,410 shares in the company, valued at approximately $37,842,054.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven A. Webster acquired 151,900 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $13.56 per share, with a total value of $2,059,764.00. Following the purchase, the director now owns 2,724,410 shares of the company’s stock, valued at $36,942,999.60. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 431,600 shares of company stock valued at $5,602,306. Corporate insiders own 6.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan boosted 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 acquiring an additional 140 shares during the period. Blair William & Co. IL boosted 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 acquiring an additional 181 shares during the period. Arizona State Retirement System boosted its stake in shares of Carrizo Oil & Gas by 1.0% in the first quarter. Arizona State Retirement System now owns 31,849 shares of the oil and gas producer’s stock worth $913,000 after acquiring an additional 300 shares during the period. Texas Permanent School Fund boosted its stake in shares of Carrizo Oil & Gas by 1.9% in the second quarter. Texas Permanent School Fund now owns 45,163 shares of the oil and gas producer’s stock worth $787,000 after acquiring an additional 838 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in shares of Carrizo Oil & Gas by 7.0% in the first quarter. Mason Street Advisors LLC now owns 14,316 shares of the oil and gas producer’s stock worth $410,000 after acquiring an additional 938 shares during the period.
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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