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. “
A number of other brokerages have also commented on CRZO. Mizuho assumed coverage on shares of Carrizo Oil & Gas in a report on Wednesday. They set a neutral rating and a $42.00 price target on the stock. Canaccord Genuity boosted their target price on shares of Carrizo Oil & Gas from $38.00 to $44.00 and gave the company a buy rating in a report on Thursday, June 9th. Simmons restated a neutral rating and issued a $46.00 target price (up previously from $42.00) on shares of Carrizo Oil & Gas in a report on Monday, August 15th. FBR & Co boosted their target price on shares of Carrizo Oil & Gas from $49.00 to $50.00 and gave the company an outperform rating in a report on Tuesday, September 6th. Finally, Seaport Global Securities upgraded shares of Carrizo Oil & Gas from a neutral rating to an accumulate rating and set a $44.00 target price on the stock in a report on Tuesday, June 7th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $39.74.
Carrizo Oil & Gas (NASDAQ:CRZO) traded down 1.18% during midday trading on Wednesday, hitting $41.04. The stock had a trading volume of 315,745 shares. Carrizo Oil & Gas has a 1-year low of $16.10 and a 1-year high of $43.97. The company’s 50 day moving average is $37.22 and its 200 day moving average is $35.61. The company’s market cap is $2.42 billion.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.16. The company had revenue of $107.30 million for the quarter, compared to analyst estimates of $119.67 million. Carrizo Oil & Gas had a negative net margin of 421.40% and a positive return on equity of 19.03%. Carrizo Oil & Gas’s revenue was down 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, equities analysts anticipate that Carrizo Oil & Gas will post $1.08 earnings per share for the current fiscal year.
In other news, COO John Bradley Fisher sold 27,831 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $35.05, for a total transaction of $975,476.55. Following the completion of the transaction, the chief operating officer now directly owns 179,403 shares of the company’s stock, valued at approximately $6,288,075.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger A. Ramsey sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $39.86, for a total transaction of $39,860.00. Following the transaction, the director now directly owns 33,450 shares of the company’s stock, valued at $1,333,317. The disclosure for this sale can be found here. Insiders own 6.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Architects Inc increased its position 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 in the last quarter. Huntington Asset Advisors Inc. acquired a new stake in shares of Carrizo Oil & Gas during the first quarter worth approximately $117,000. Blair William & Co. IL acquired a new stake in shares of Carrizo Oil & Gas during the second quarter worth approximately $209,000. Panagora Asset Management Inc. boosted its stake in shares of 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 acquired a new stake in shares of Carrizo Oil & Gas during the second quarter worth approximately $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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