Carrizo Oil & Gas Inc. (CRZO) Trading 7.8% Higher
Carrizo Oil & Gas Inc. (NASDAQ:CRZO)’s share price traded up 7.8% on Tuesday . The stock traded as high as $37.50 and last traded at $37.25, with a volume of 930,765 shares changing hands. The stock had previously closed at $34.55.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, July 6th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Carrizo Oil & Gas in a report on Wednesday, March 16th. Imperial Capital lifted their price target on Carrizo Oil & Gas from $30.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, May 5th. FBR & Co reiterated an “outperform” rating and set a $49.00 price target (up previously from $46.00) on shares of Carrizo Oil & Gas in a report on Wednesday, July 6th. Finally, Cantor Fitzgerald reiterated a “buy” rating on shares of Carrizo Oil & Gas in a report on Sunday. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $40.05.
The firm’s 50 day moving average price is $37.81 and its 200-day moving average price is $30.87. The firm’s market capitalization is $2.12 billion.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. The firm earned $132 million during the quarter, compared to the consensus estimate of $123.44 million. During the same period in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. Analysts predict that Carrizo Oil & Gas Inc. will post $0.67 EPS for the current year.
In other Carrizo Oil & Gas news, CEO S P. Iv Johnson sold 6,000 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $38.38, for a total value of $230,280.00. Following the completion of the sale, the chief executive officer now directly owns 619,717 shares of the company’s stock, valued at approximately $23,784,738.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank A. Wojtek sold 800 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $38.46, for a total transaction of $30,768.00. Following the completion of the sale, the director now directly owns 29,758 shares of the company’s stock, valued at $1,144,492.68. The disclosure for this sale can be found here.
Other large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its stake in shares of Carrizo Oil & Gas by 1.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 40,511 shares of the company’s stock worth $1,198,000 after buying an additional 570 shares during the last quarter. Nationwide Fund Advisors increased its position in Carrizo Oil & Gas by 10.0% in the fourth quarter. Nationwide Fund Advisors now owns 41,079 shares of the company’s stock worth $1,215,000 after buying an additional 3,734 shares in the last quarter. Sei Investments Co. increased its position in Carrizo Oil & Gas by 41.4% in the fourth quarter. Sei Investments Co. now owns 55,122 shares of the company’s stock worth $1,632,000 after buying an additional 16,144 shares in the last quarter. Marshall Wace LLP bought a new position in Carrizo Oil & Gas during the fourth quarter worth $1,682,000. Finally, Swiss National Bank increased its position in Carrizo Oil & Gas by 17.8% in the fourth quarter. Swiss National Bank now owns 72,939 shares of the company’s stock worth $2,158,000 after buying an additional 11,039 shares in the last quarter.
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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