Citigroup Inc. initiated coverage on shares of Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) in a research report released on Monday morning, MarketBeat.com reports. The firm issued a neutral rating and a $16.00 price objective on the oil and gas producer’s stock.

Several other analysts have also recently commented on the company. Zacks Investment Research cut Carrizo Oil & Gas from a hold rating to a sell rating in a report on Tuesday, July 18th. Tudor Pickering cut Carrizo Oil & Gas from a buy rating to a hold rating in a report on Tuesday, September 5th. Mizuho reiterated a buy rating and issued a $32.00 price target on shares of Carrizo Oil & Gas in a report on Friday, June 30th. J P Morgan Chase & Co cut Carrizo Oil & Gas from an overweight rating to a neutral rating and decreased their price target for the company from $30.00 to $21.00 in a report on Thursday, July 20th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $25.00 price target (down previously from $64.00) on shares of Carrizo Oil & Gas in a report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Carrizo Oil & Gas presently has a consensus rating of Hold and a consensus price target of $35.63.

Shares of Carrizo Oil & Gas (NASDAQ:CRZO) opened at 14.70 on Monday. The company’s 50 day moving average is $13.47 and its 200-day moving average is $20.45. Carrizo Oil & Gas has a 52 week low of $11.10 and a 52 week high of $43.96. The company’s market capitalization is $1.20 billion.

Carrizo Oil & Gas (NASDAQ:CRZO) last announced its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. The company had revenue of $166.50 million for the quarter, compared to analysts’ expectations of $163.22 million. Carrizo Oil & Gas had a positive return on equity of 1,494.45% and a negative net margin of 0.98%. The business’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, analysts expect that Carrizo Oil & Gas will post $1.09 EPS for the current fiscal year.

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In other news, Director Steven A. Webster acquired 75,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average cost of $13.89 per share, for a total transaction of $1,041,750.00. Following the completion of the acquisition, the director now owns 2,724,410 shares in the company, valued at $37,842,054.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven A. Webster acquired 29,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average price of $13.36 per share, with a total value of $396,792.00. Following the completion of the acquisition, the director now owns 2,724,410 shares of the company’s stock, valued at approximately $36,398,117.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 431,600 shares of company stock valued at $5,602,306. 6.00% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of CRZO. Municipal Employees Retirement System of Michigan grew its stake in Carrizo Oil & Gas by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,990 shares of the oil and gas producer’s stock valued at $401,000 after purchasing an additional 140 shares in the last quarter. Blair William & Co. IL grew its stake in Carrizo Oil & Gas by 2.2% in the first quarter. Blair William & Co. IL now owns 8,390 shares of the oil and gas producer’s stock valued at $242,000 after purchasing an additional 181 shares in the last quarter. Arizona State Retirement System grew its stake in Carrizo Oil & Gas by 1.0% in the first quarter. Arizona State Retirement System now owns 31,849 shares of the oil and gas producer’s stock valued at $913,000 after purchasing an additional 300 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Carrizo Oil & Gas by 0.7% in the first quarter. Mutual of America Capital Management LLC now owns 83,785 shares of the oil and gas producer’s stock valued at $2,401,000 after purchasing an additional 595 shares in the last quarter. Finally, Texas Permanent School Fund grew its stake in Carrizo Oil & Gas by 1.9% in the second quarter. Texas Permanent School Fund now owns 45,163 shares of the oil and gas producer’s stock valued at $787,000 after purchasing an additional 838 shares in the last quarter.

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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