Carrizo Oil & Gas (CRZO) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Carrizo Oil & Gas (NASDAQ:CRZO) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The firm currently has $22.00 price objective on the oil and gas producer’s stock.

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. “

Other analysts have also issued research reports about the company. KeyCorp reiterated a buy rating on shares of Carrizo Oil & Gas in a report on Friday, October 20th. Williams Capital reiterated a buy rating and set a $26.00 target price on shares of Carrizo Oil & Gas in a report on Monday, October 9th. SunTrust Banks set a $20.00 target price on Carrizo Oil & Gas and gave the stock a buy rating in a report on Monday, October 16th. BMO Capital Markets set a $20.00 target price on Carrizo Oil & Gas and gave the stock a buy rating in a report on Tuesday, October 10th. Finally, Royal Bank of Canada reiterated a buy rating and set a $23.00 target price on shares of Carrizo Oil & Gas in a report on Friday, September 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $28.22.

Carrizo Oil & Gas (CRZO) traded up $0.03 on Tuesday, reaching $21.56. The company had a trading volume of 1,909,827 shares, compared to its average volume of 3,070,000. Carrizo Oil & Gas has a fifty-two week low of $11.10 and a fifty-two week high of $39.70. The company has a market capitalization of $1,760.00, a price-to-earnings ratio of 13.91 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 (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, topping the 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 business had revenue of $181.28 million for the quarter, compared to analyst estimates of $177.97 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. Carrizo Oil & Gas’s revenue was up 63.1% on a year-over-year basis. equities research analysts anticipate that Carrizo Oil & Gas will post 1.38 earnings per share for the current year.

In other Carrizo Oil & Gas news, CEO S P. Iv Johnson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $18.57, for a total value of $148,560.00. Following the sale, the chief executive officer now owns 223,194 shares in the company, valued at $4,144,712.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.00% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of CRZO. Kings Point Capital Management grew its position in shares of Carrizo Oil & Gas by 220.0% in the second quarter. Kings Point Capital Management now owns 8,000 shares of the oil and gas producer’s stock valued at $139,000 after purchasing an additional 5,500 shares during the last quarter. Advisor Group Inc. grew its position in shares of Carrizo Oil & Gas by 47.4% in the second quarter. Advisor Group Inc. now owns 8,121 shares of the oil and gas producer’s stock valued at $141,000 after purchasing an additional 2,611 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Carrizo Oil & Gas by 15.0% in the second quarter. Van ECK Associates Corp now owns 9,028 shares of the oil and gas producer’s stock valued at $157,000 after purchasing an additional 1,177 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Carrizo Oil & Gas in the third quarter valued at approximately $182,000. Finally, First Interstate Bank grew its position in shares of Carrizo Oil & Gas by 40.6% in the second quarter. First Interstate Bank now owns 11,740 shares of the oil and gas producer’s stock valued at $205,000 after purchasing an additional 3,390 shares during the last quarter. 99.96% of the stock is currently owned by institutional investors.

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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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