Carrizo Oil & Gas Inc. (CRZO) Stock Rating Lowered by Goldman Sachs Group Inc.
Carrizo Oil & Gas Inc. (NASDAQ:CRZO) was downgraded by equities researchers at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report issued on Tuesday.
CRZO has been the topic of several other research reports. Zacks Investment Research downgraded shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Carrizo Oil & Gas in a report on Sunday, July 10th. Credit Suisse Group AG downgraded shares of Carrizo Oil & Gas from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $42.00 to $41.00 in a report on Thursday, October 13th. KLR Group raised shares of Carrizo Oil & Gas from an “accumulate” rating to a “buy” rating and lifted their target price for the company from $41.00 to $49.00 in a report on Monday, July 18th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Carrizo Oil & Gas has a consensus rating of “Buy” and a consensus price target of $40.04.
Carrizo Oil & Gas (NASDAQ:CRZO) opened at 39.81 on Tuesday. The firm has a 50-day moving average of $38.23 and a 200 day moving average of $36.22. Carrizo Oil & Gas has a 12-month low of $16.10 and a 12-month high of $43.56. The stock’s market capitalization is $2.35 billion.
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Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings data 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 company had revenue of $107.30 million for the quarter, compared to the consensus estimate of $119.67 million. During the same period last year, the firm posted $0.39 EPS. Carrizo Oil & Gas’s revenue for the quarter was down 13.1% on a year-over-year basis. On average, analysts predict that Carrizo Oil & Gas will post $1.06 earnings per share for the current fiscal year.
In other news, COO John Bradley Fisher sold 27,831 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $35.05, for a total value of $975,476.55. Following the completion of the transaction, the chief operating officer now owns 179,403 shares of the company’s stock, valued at $6,288,075.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider S P. Iv Johnson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $39.68, for a total transaction of $238,080.00. Following the completion of the transaction, the insider now directly owns 601,717 shares of the company’s stock, valued at approximately $23,876,130.56. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Guinness Asset Management Ltd increased its stake in Carrizo Oil & Gas by 19.1% in the third quarter. Guinness Asset Management Ltd now owns 218,395 shares of the company’s stock worth $8,871,000 after buying an additional 35,000 shares during the last quarter. Eagle Asset Management Inc. increased its stake in 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 during the last quarter. Gradient Investments LLC increased its stake in 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 during the last quarter. Macquarie Group Ltd. increased its stake in 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 during the last quarter. Finally, Mason Street Advisors LLC bought a new stake in Carrizo Oil & Gas during the second quarter worth about $383,000.
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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