Carrizo Oil & Gas Inc. (CRZO) Downgraded by Credit Suisse Group AG
Carrizo Oil & Gas Inc. (NASDAQ:CRZO) was downgraded by research analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a research report issued on Thursday, The Fly reports.
Other research analysts have also issued research reports about the stock. Stifel Nicolaus assumed coverage on shares of Carrizo Oil & Gas in a research report on Thursday, June 16th. They issued a “buy” rating and a $48.00 price target for the company. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Carrizo Oil & Gas in a research note on Sunday, July 10th. Zacks Investment Research raised shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, July 6th. KLR Group raised shares of Carrizo Oil & Gas from an “accumulate” rating to a “buy” rating and upped their price objective for the stock from $41.00 to $49.00 in a research note on Monday, July 18th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Carrizo Oil & Gas in a research note on Thursday, August 11th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $40.09.
Shares of Carrizo Oil & Gas (NASDAQ:CRZO) opened at 41.40 on Thursday. The company’s market cap is $2.44 billion. Carrizo Oil & Gas has a one year low of $16.10 and a one year high of $43.56. The company’s 50-day moving average price is $37.95 and its 200 day moving average price is $35.97.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/carrizo-oil-gas-inc-crzo-downgraded-by-credit-suisse-group-ag.html
Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.16. Carrizo Oil & Gas had a negative net margin of 421.40% and a positive return on equity of 19.03%. The firm earned $107.30 million during the quarter, compared to analyst estimates of $119.67 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. The company’s quarterly revenue was down 13.1% compared to the same quarter last year. Equities analysts forecast that Carrizo Oil & Gas will post $1.06 EPS for the current fiscal year.
In related news, COO John Bradley Fisher sold 7,500 shares of the firm’s stock in a transaction on Monday, October 10th. The shares were 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 $6,195,096. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roger A. Ramsey sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was 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 in the company, valued at $1,333,317. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.
Several large investors have recently modified their holdings of CRZO. Financial Architects Inc raised its stake 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 last quarter. Huntington Asset Advisors Inc. bought a new stake in shares of Carrizo Oil & Gas during the first quarter worth approximately $117,000. Blair William & Co. IL bought a new stake in shares of Carrizo Oil & Gas during the second quarter worth approximately $209,000. Panagora Asset Management Inc. raised 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 bought a new stake 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.
Receive News & Ratings for Carrizo Oil & Gas Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carrizo Oil & Gas Inc. and related companies with MarketBeat.com's FREE daily email newsletter.