Carrizo Oil & Gas Inc. (CRZO) to Post FY2016 Earnings of $1.01 Per Share, SunTrust Banks Forecasts
Carrizo Oil & Gas Inc. (NASDAQ:CRZO) – Equities researchers at SunTrust Banks dropped their FY2016 EPS estimates for Carrizo Oil & Gas in a note issued to investors on Thursday. SunTrust Banks analyst N. Dingmann now forecasts that the firm will post earnings per share of $1.01 for the year, down from their previous estimate of $1.27. SunTrust Banks also issued estimates for Carrizo Oil & Gas’ FY2017 earnings at $1.32 EPS.
Carrizo Oil & Gas (NASDAQ:CRZO) last released its earnings results on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.16. The company had revenue of $107.30 million for the quarter, compared to the consensus estimate of $119.67 million. Carrizo Oil & Gas had a positive return on equity of 19.03% and a negative net margin of 421.40%. Carrizo Oil & Gas’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share.
Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $42.00 price target on shares of Carrizo Oil & Gas in a research report on Thursday, August 11th. Jefferies Group reaffirmed a “buy” rating on shares of Carrizo Oil & Gas in a research report on Thursday, August 11th. Imperial Capital upped their price target on Carrizo Oil & Gas from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Finally, FBR & Co set a $49.00 price target on Carrizo Oil & Gas and gave the stock a “buy” rating in a research report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.04.
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Carrizo Oil & Gas (NASDAQ:CRZO) opened at 39.89 on Monday. The stock’s market capitalization is $2.35 billion. The company’s 50-day moving average price is $38.18 and its 200 day moving average price is $36.07. Carrizo Oil & Gas has a 52-week low of $16.10 and a 52-week high of $43.56.
In related news, insider S P. Iv Johnson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $39.68, for a total value of $238,080.00. Following the transaction, the insider now directly owns 601,717 shares of the company’s stock, valued at approximately $23,876,130.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roger A. Ramsey sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $39.86, for a total transaction of $39,860.00. Following the completion of the transaction, the director now directly 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 currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CRZO. Eagle Asset Management Inc. raised its position in shares of Carrizo Oil & Gas by 16.4% in the third quarter. Eagle Asset Management Inc. now owns 93,957 shares of the company’s stock worth $3,816,000 after buying an additional 13,259 shares in the last quarter. Gradient Investments LLC raised its position in shares of Carrizo Oil & Gas by 29.6% in the third quarter. Gradient Investments LLC now owns 16,809 shares of the company’s stock worth $683,000 after buying an additional 3,840 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Carrizo Oil & Gas by 9.1% in the second quarter. Macquarie Group Ltd. now owns 690,577 shares of the company’s stock worth $24,757,000 after buying an additional 57,410 shares in the last quarter. Mason Street Advisors LLC bought a new position in shares of Carrizo Oil & Gas during the second quarter worth $383,000. Finally, Royal Bank of Canada raised its position in shares of Carrizo Oil & Gas by 13.1% in the second quarter. Royal Bank of Canada now owns 356,104 shares of the company’s stock worth $12,767,000 after buying an additional 41,324 shares in the last quarter.
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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