Carrizo Oil & Gas Inc. (CRZO) Downgraded by Zacks Investment Research
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. Canaccord Genuity raised their target price on Carrizo Oil & Gas from $38.00 to $44.00 and gave the stock a buy rating in a research report on Thursday, June 9th. FBR & Co raised their target price on Carrizo Oil & Gas from $49.00 to $50.00 and gave the stock an outperform rating in a research report on Tuesday, September 6th. Simmons reaffirmed a neutral rating and issued a $46.00 target price (up previously from $42.00) on shares of Carrizo Oil & Gas in a research report on Monday, August 15th. KLR Group raised Carrizo Oil & Gas from an accumulate rating to a buy rating and raised their target price for the stock from $41.00 to $49.00 in a research report on Monday, July 18th. Finally, Mizuho began coverage on Carrizo Oil & Gas in a research report on Wednesday, October 5th. They issued a neutral rating and a $42.00 target price for the company. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Carrizo Oil & Gas currently has a consensus rating of Buy and a consensus target price of $39.74.
Shares of Carrizo Oil & Gas (NASDAQ:CRZO) traded up 4.19% during midday trading on Wednesday, reaching $43.00. The company’s stock had a trading volume of 184,247 shares. Carrizo Oil & Gas has a 52 week low of $16.10 and a 52 week high of $43.17. The stock has a 50-day moving average price of $37.45 and a 200 day moving average price of $35.72. The stock’s market capitalization is $2.54 billion.
Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.16. The business earned $107.30 million during the quarter, compared to analyst estimates of $119.67 million. Carrizo Oil & Gas had a positive return on equity of 19.03% and a negative net margin of 421.40%. The company’s revenue was down 13.1% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. Equities analysts forecast that Carrizo Oil & Gas will post $1.06 earnings per share for the current year.
In related news, Director Roger A. Ramsey sold 1,000 shares of Carrizo Oil & Gas stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $41.35, for a total transaction of $41,350.00. Following the sale, the director now directly owns 32,450 shares of the company’s stock, valued at $1,341,807.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider S P. Iv Johnson sold 6,000 shares of Carrizo Oil & Gas stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $39.68, for a total value of $238,080.00. Following the sale, the insider now directly owns 601,717 shares in the company, valued at $23,876,130.56. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Financial Architects Inc increased its stake in Carrizo Oil & Gas by 4,458.8% in the second quarter. Financial Architects Inc now owns 3,100 shares of the company’s stock worth $111,000 after buying an additional 3,032 shares during the last quarter. Huntington Asset Advisors Inc. bought a new stake in Carrizo Oil & Gas during the first quarter worth $117,000. Blair William & Co. IL bought a new stake in Carrizo Oil & Gas during the second quarter worth $209,000. Panagora Asset Management Inc. increased its stake in Carrizo Oil & Gas by 77.2% in the second quarter. Panagora Asset Management Inc. now owns 6,127 shares of the company’s stock worth $220,000 after buying an additional 2,670 shares during the last quarter. Finally, Amalgamated Bank bought a new stake in Carrizo Oil & Gas during the second quarter worth $233,000.
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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