Carrizo Oil & Gas Inc. (CRZO) Stock Price Down 2.6% Following Insider Selling
Carrizo Oil & Gas Inc. (NASDAQ:CRZO) traded down 2.6% during trading on Wednesday following insider selling activity. The company traded as low as $41.00 and last traded at $41.35, with a volume of 923,046 shares trading hands. The stock had previously closed at $42.47.
Specifically, Director Roger A. Ramsey sold 1,000 shares of the firm’s 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 sale, the director now owns 33,450 shares of the company’s stock, valued at $1,333,317. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO John Bradley Fisher sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $43.00, for a total transaction of $322,500.00. Following the sale, the chief operating officer now directly owns 144,072 shares in the company, valued at approximately $6,195,096. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.
CRZO has been the topic of a number of research analyst reports. Mizuho began coverage on shares of Carrizo Oil & Gas in a report on Wednesday, October 5th. They set a “neutral” rating and a $42.00 price objective on the stock. Zacks Investment Research cut shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Simmons reaffirmed a “neutral” rating and issued a $46.00 target price (up from $42.00) on shares of Carrizo Oil & Gas in a report on Monday, August 15th. FBR & Co lifted 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, Stifel Nicolaus began coverage on shares of Carrizo Oil & Gas in a report on Thursday, June 16th. They issued a “buy” rating and a $48.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Carrizo Oil & Gas has an average rating of “Buy” and a consensus target price of $40.09.
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The stock’s market capitalization is $2.44 billion. The firm’s 50-day moving average is $37.95 and its 200 day moving average is $35.97.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.29 EPS for the quarter, beating 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 positive return on equity of 19.03% and a negative net margin of 421.40%. The company’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. On average, analysts expect that Carrizo Oil & Gas Inc. will post $1.06 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Architects Inc raised its position in shares of 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 period. Huntington Asset Advisors Inc. acquired a new position in shares of Carrizo Oil & Gas during the first quarter worth approximately $117,000. Blair William & Co. IL acquired a new position in shares of Carrizo Oil & Gas during the second quarter worth approximately $209,000. Panagora Asset Management Inc. raised its position 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 period. Finally, Amalgamated Bank acquired a new position in shares of Carrizo Oil & Gas during the second quarter worth approximately $233,000.
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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