Carrizo Oil & Gas Inc. (CRZO) Trading Up 5.1% After Analyst Upgrade
Shares of Carrizo Oil & Gas Inc. (NASDAQ:CRZO) shot up 5.1% on Wednesday after Imperial Capital raised their price target on the stock from $45.00 to $50.00. Imperial Capital currently has an outperform rating on the stock. Carrizo Oil & Gas traded as high as $41.05 and last traded at $40.89, with a volume of 900,398 shares. The stock had previously closed at $38.92.
CRZO has been the topic of a number of other reports. Canaccord Genuity reiterated a “buy” rating and set a $44.00 price target on shares of Carrizo Oil & Gas in a research report on Friday, August 5th. Zacks Investment Research raised Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, July 6th. FBR & Co set a $49.00 price objective on Carrizo Oil & Gas and gave the stock a “buy” rating in a report on Friday, August 5th. Stifel Nicolaus reissued a “buy” rating on shares of Carrizo Oil & Gas in a report on Wednesday, August 31st. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Carrizo Oil & Gas in a report on Sunday, July 10th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $40.65.
In related news, Director Roger A. Ramsey sold 1,000 shares of the 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 completion of the sale, the director now directly owns 33,450 shares in the company, valued at $1,333,317. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO John Bradley Fisher sold 27,831 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $35.05, for a total value of $975,476.55. Following the sale, the chief operating officer now owns 179,403 shares of the company’s stock, valued at $6,288,075.15. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.
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/2016/10/19/carrizo-oil-gas-inc-crzo-trading-up-5-1-after-analyst-upgrade.html
Hedge funds have recently made changes to their positions in the company. 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 valued at $111,000 after buying an additional 3,032 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of Carrizo Oil & Gas during the second quarter valued at about $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 valued at $220,000 after buying an additional 2,670 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Carrizo Oil & Gas during the second quarter valued at about $233,000. Finally, PineBridge Investments L.P. raised its stake 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 valued at $248,000 after buying an additional 303 shares in the last quarter.
The stock’s market capitalization is $2.41 billion. The stock has a 50 day moving average of $38.23 and a 200 day moving average of $36.28.
Carrizo Oil & Gas (NASDAQ:CRZO) last released its earnings results on Thursday, August 4th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the business earned $0.39 EPS. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. Equities research analysts predict that Carrizo Oil & Gas Inc. will post $1.06 EPS for the current year.
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.