Carrizo Oil & Gas (NASDAQ:CRZO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, exploitation and production of oil and natural gas primarily in proven trends in the Barnett Shale area in North Texas and along the Texas and Louisiana onshore Gulf Coast regions. Carrizo controls significant prospective acreage blocks and utilizes advanced three-D seismic techniques to identify potential oil and gas reserves and drilling opportunities. “
Several other brokerages have also recently commented on CRZO. SunTrust Banks reissued a “buy” rating and set a $24.00 target price on shares of Carrizo Oil & Gas in a report on Friday, November 10th. Mizuho set a $21.00 target price on Carrizo Oil & Gas and gave the stock a “hold” rating in a report on Friday, November 24th. Williams Capital set a $29.00 target price on Carrizo Oil & Gas and gave the stock a “buy” rating in a report on Monday, November 27th. Scotiabank reissued a “buy” rating and set a $33.00 target price on shares of Carrizo Oil & Gas in a report on Wednesday, November 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $23.00 target price (up previously from $20.00) on shares of Carrizo Oil & Gas in a report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $28.76.
Carrizo Oil & Gas (NASDAQ:CRZO) last announced its earnings results on Tuesday, November 7th. The oil and gas producer reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.09. Carrizo Oil & Gas had a return on equity of 58.37% and a net margin of 16.08%. The firm had revenue of $181.28 million for the quarter, compared to analysts’ expectations of $177.97 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The firm’s quarterly revenue was up 63.1% compared to the same quarter last year. equities analysts predict that Carrizo Oil & Gas will post 1.32 earnings per share for the current fiscal year.
In other Carrizo Oil & Gas news, Director Steven A. Webster purchased 75,000 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $11.70 per share, for a total transaction of $877,500.00. Following the completion of the transaction, the director now owns 2,786,310 shares in the company, valued at approximately $32,599,827. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider S P. Iv Johnson sold 8,000 shares of Carrizo Oil & Gas stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $18.69, for a total transaction of $149,520.00. Following the completion of the transaction, the insider now owns 231,194 shares in the company, valued at approximately $4,321,015.86. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Kings Point Capital Management grew its position in Carrizo Oil & Gas by 220.0% during the 2nd quarter. Kings Point Capital Management now owns 8,000 shares of the oil and gas producer’s stock worth $139,000 after purchasing an additional 5,500 shares in the last quarter. Advisor Group Inc. grew its position in Carrizo Oil & Gas by 47.4% during the 2nd quarter. Advisor Group Inc. now owns 8,121 shares of the oil and gas producer’s stock worth $141,000 after purchasing an additional 2,611 shares in the last quarter. Van ECK Associates Corp grew its position in Carrizo Oil & Gas by 15.0% during the 2nd quarter. Van ECK Associates Corp now owns 9,028 shares of the oil and gas producer’s stock worth $157,000 after purchasing an additional 1,177 shares in the last quarter. Amalgamated Bank purchased a new position in Carrizo Oil & Gas during the 3rd quarter worth approximately $182,000. Finally, First Interstate Bank grew its position in Carrizo Oil & Gas by 40.6% during the 2nd quarter. First Interstate Bank now owns 11,740 shares of the oil and gas producer’s stock worth $205,000 after purchasing an additional 3,390 shares in the last quarter.
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.
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