Carrizo Oil & Gas’ (CRZO) “Buy” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their buy rating on shares of Carrizo Oil & Gas (NASDAQ:CRZO) in a research note issued to investors on Wednesday morning. Royal Bank of Canada currently has a $24.00 target price on the oil and gas producer’s stock.

Other analysts have also issued research reports about the company. Jefferies Group set a $21.00 price objective on Carrizo Oil & Gas and gave the stock a hold rating in a report on Wednesday. Zacks Investment Research raised Carrizo Oil & Gas from a hold rating to a buy rating and set a $22.00 price objective on the stock in a report on Tuesday. Seaport Global Securities raised Carrizo Oil & Gas from a sell rating to a buy rating in a report on Tuesday. KeyCorp reissued a buy rating on shares of Carrizo Oil & Gas in a report on Friday, December 15th. Finally, Piper Jaffray Companies reissued a hold rating on shares of Carrizo Oil & Gas in a report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Carrizo Oil & Gas currently has a consensus rating of Buy and an average target price of $28.22.

Shares of Carrizo Oil & Gas (CRZO) opened at $21.56 on Wednesday. The stock has a market capitalization of $1,753.72, a P/E ratio of 17.22 and a beta of 2.18. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 4.38. Carrizo Oil & Gas has a fifty-two week low of $11.10 and a fifty-two week high of $39.70.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its earnings results on Tuesday, November 7th. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.09. The firm had revenue of $181.28 million for the quarter, compared to analyst estimates of $177.97 million. Carrizo Oil & Gas had a return on equity of 58.37% and a net margin of 16.08%. The company’s revenue was up 63.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. equities research analysts forecast that Carrizo Oil & Gas will post 1.38 earnings per share for the current fiscal year.

In other Carrizo Oil & Gas news, insider S P. Iv Johnson sold 8,000 shares of Carrizo Oil & Gas stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $18.69, for a total value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. GeoSphere Capital Management bought a new position in Carrizo Oil & Gas in the 3rd quarter valued at $2,423,000. Granahan Investment Management Inc. MA bought a new stake in shares of Carrizo Oil & Gas during the third quarter worth $526,000. Janus Henderson Group PLC raised its position in shares of Carrizo Oil & Gas by 125.4% during the third quarter. Janus Henderson Group PLC now owns 338,109 shares of the oil and gas producer’s stock worth $5,792,000 after acquiring an additional 188,109 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Carrizo Oil & Gas during the third quarter worth $388,000. Finally, NWQ Investment Management Company LLC raised its position in shares of Carrizo Oil & Gas by 122.6% during the third quarter. NWQ Investment Management Company LLC now owns 7,261,441 shares of the oil and gas producer’s stock worth $124,388,000 after acquiring an additional 3,999,717 shares during the last quarter. Hedge funds and other institutional investors own 99.96% 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.

Analyst Recommendations for Carrizo Oil & Gas (NASDAQ:CRZO)

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