Carrizo Oil & Gas Inc. (NASDAQ:CRZO)’s share price dropped 2.6% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $41.00 and last traded at $41.35, with a volume of 923,046 shares traded. The stock had previously closed at $42.47.
Specifically, insider S P. Iv Johnson sold 6,000 shares of the company’s stock in a transaction that occurred on 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 owns 601,717 shares in the company, valued at approximately $23,876,130.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger A. Ramsey sold 1,000 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $39.86, for a total value of $39,860.00. Following the sale, the director now owns 33,450 shares in the company, valued at $1,333,317. The disclosure for this sale can be found here. 6.30% of the stock is owned by corporate insiders.
Several analysts have commented on CRZO shares. Mizuho started coverage on Carrizo Oil & Gas in a research note on Wednesday, October 5th. They set a “neutral” rating and a $42.00 target price on the stock. Zacks Investment Research downgraded Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Simmons reiterated a “neutral” rating and set a $46.00 target price (up from $42.00) on shares of Carrizo Oil & Gas in a research note on Monday, August 15th. FBR & Co increased their target price on Carrizo Oil & Gas from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, September 6th. Finally, Stifel Nicolaus started coverage on Carrizo Oil & Gas in a research note on Thursday, June 16th. They set a “buy” rating and a $48.00 target price on the stock. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.09.
The firm’s market cap is $2.44 billion. The company’s 50 day moving average price is $37.95 and its 200-day moving average price is $35.97.
Carrizo Oil & Gas (NASDAQ:CRZO) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.16. The firm 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%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. Equities analysts predict that Carrizo Oil & Gas Inc. will post $1.06 EPS for the current year.
Several large investors have recently made changes to their positions in CRZO. Quadrature Capital Ltd bought a new stake in shares of Carrizo Oil & Gas during the first quarter worth $761,000. UBS Group AG raised its stake in shares of Carrizo Oil & Gas by 22.1% in the first quarter. UBS Group AG now owns 43,041 shares of the company’s stock worth $1,331,000 after buying an additional 7,781 shares during the period. Third Avenue Management LLC bought a new stake in shares of Carrizo Oil & Gas during the first quarter worth $1,450,000. State Street Corp raised its stake in shares of Carrizo Oil & Gas by 3.2% in the first quarter. State Street Corp now owns 2,251,334 shares of the company’s stock worth $69,609,000 after buying an additional 68,976 shares during the period. Finally, Kings Point Capital Management raised its stake in shares of Carrizo Oil & Gas by 28.6% in the first quarter. Kings Point Capital Management now owns 9,000 shares of the company’s stock worth $278,000 after buying an additional 2,000 shares during the period.
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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