Carrizo Oil & Gas (CRZO) Earning Somewhat Positive News Coverage, Report Finds

Headlines about Carrizo Oil & Gas (NASDAQ:CRZO) have trended somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Carrizo Oil & Gas earned a media sentiment score of 0.09 on Accern’s scale. Accern also assigned news articles about the oil and gas producer an impact score of 47.3041247059451 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

These are some of the media stories that may have impacted Accern’s scoring:

Several analysts have recently issued reports on CRZO shares. Zacks Investment Research lowered shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. SunTrust Banks, Inc. set a $20.00 target price on shares of Carrizo Oil & Gas and gave the company a “buy” rating in a research report on Monday, October 16th. BidaskClub upgraded shares of Carrizo Oil & Gas from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Mizuho lowered shares of Carrizo Oil & Gas from a “buy” rating to a “neutral” rating and dropped their target price for the company from $32.00 to $17.00 in a research report on Thursday, September 7th. Finally, Piper Jaffray Companies dropped their target price on shares of Carrizo Oil & Gas from $43.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.68.

Carrizo Oil & Gas (NASDAQ CRZO) traded up 4.58% during midday trading on Friday, hitting $16.00. 3,542,261 shares of the stock were exchanged. The stock’s market cap is $1.30 billion. Carrizo Oil & Gas has a 12-month low of $11.10 and a 12-month high of $43.96. The firm has a 50 day moving average of $15.46 and a 200-day moving average of $18.11.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $166.50 million for the quarter, compared to analysts’ expectations of $163.22 million. During the same period last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 55.2% compared to the same quarter last year. On average, equities analysts expect that Carrizo Oil & Gas will post $1.09 earnings per share for the current year.

In related news, Director Steven A. Webster bought 75,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average cost of $11.70 per share, with a total value of $877,500.00. Following the completion of the transaction, the director now owns 2,786,310 shares of the company’s stock, valued at $32,599,827. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven A. Webster bought 29,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average cost of $13.36 per share, for a total transaction of $396,792.00. Following the completion of the transaction, the director now directly owns 2,724,410 shares of the company’s stock, valued at approximately $36,398,117.60. The disclosure for this purchase can be found here. Insiders purchased 431,600 shares of company stock worth $5,602,306 over the last three months. Corporate insiders own 6.00% of the company’s stock.

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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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