Carrizo Oil & Gas Inc. (CRZO) Downgraded by Zacks Investment Research
Carrizo Oil & Gas Inc. (NASDAQ:CRZO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, exploitation and production of oil and natural gas primarily in proven trends in the Barnett Shale area in North Texas and along the Texas and Louisiana onshore Gulf Coast regions. Carrizo controls significant prospective acreage blocks and utilizes advanced three-D seismic techniques to identify potential oil and gas reserves and drilling opportunities. “
A number of other research firms have also issued reports on CRZO. Mizuho assumed coverage on shares of Carrizo Oil & Gas in a research note on Wednesday, October 5th. They set a “neutral” rating and a $42.00 target price for the company. Credit Suisse Group AG downgraded shares of Carrizo Oil & Gas from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $42.00 to $41.00 in a research report on Thursday, October 13th. Goldman Sachs Group Inc. downgraded shares of Carrizo Oil & Gas from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Tuesday. KLR Group restated an “accumulate” rating on shares of Carrizo Oil & Gas in a research report on Tuesday. Finally, FBR & Co boosted their price target on shares of Carrizo Oil & Gas from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 6th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $40.43.
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Shares of Carrizo Oil & Gas (NASDAQ:CRZO) traded down 2.24% during mid-day trading on Tuesday, reaching $38.92. 1,786,764 shares of the company were exchanged. Carrizo Oil & Gas has a 12 month low of $16.10 and a 12 month high of $43.56. The firm’s market capitalization is $2.30 billion. The company’s 50 day moving average price is $38.23 and its 200 day moving average price is $36.22.
Carrizo Oil & Gas (NASDAQ:CRZO) last posted its earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.16. The firm earned $107.30 million during 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%. Carrizo Oil & Gas’s revenue was down 13.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. Equities analysts anticipate that Carrizo Oil & Gas will post $1.06 earnings per share for the current year.
In related 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 transaction of $975,476.55. Following the transaction, the chief operating officer now directly owns 179,403 shares of the company’s stock, valued at $6,288,075.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider S P. Iv Johnson sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $41.56, for a total transaction of $249,360.00. Following the transaction, the insider now directly owns 595,717 shares in the company, valued at $24,757,998.52. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in shares of Carrizo Oil & Gas by 111.6% in the second quarter. BNP Paribas Arbitrage SA now owns 17,158 shares of the company’s stock worth $615,000 after buying an additional 9,051 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Carrizo Oil & Gas during the second quarter worth approximately $14,514,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Carrizo Oil & Gas during the first quarter worth approximately $3,069,000. PineBridge Investments L.P. increased its position in shares of Carrizo Oil & Gas by 4.6% in the second quarter. PineBridge Investments L.P. now owns 6,932 shares of the company’s stock worth $248,000 after buying an additional 303 shares during the last quarter. Finally, Credit Agricole S A increased its position in shares of Carrizo Oil & Gas by 633.3% in the first quarter. Credit Agricole S A now owns 66,000 shares of the company’s stock worth $2,041,000 after buying an additional 57,000 shares during the last quarter.
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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