Carrizo Oil & Gas Inc (CRZO) Lowered to Sell at Zacks Investment Research
Carrizo Oil & Gas Inc (NASDAQ:CRZO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “
Other analysts also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $43.00 price target on shares of Carrizo Oil & Gas in a research note on Tuesday, April 25th. Seaport Global Securities raised Carrizo Oil & Gas from a “neutral” rating to a “buy” rating in a research note on Friday, March 31st. Robert W. Baird reduced their price target on Carrizo Oil & Gas from $50.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 24th. BidaskClub cut Carrizo Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC set a $36.00 price target on Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $41.88.
Shares of Carrizo Oil & Gas (NASDAQ:CRZO) traded down 2.63% on Tuesday, reaching $15.94. 3,406,238 shares of the company were exchanged. The stock’s 50-day moving average is $20.83 and its 200 day moving average is $29.16. Carrizo Oil & Gas has a 12-month low of $14.58 and a 12-month high of $43.96. The firm’s market capitalization is $1.05 billion.
Carrizo Oil & Gas (NASDAQ:CRZO) last announced its quarterly earnings data on Tuesday, May 9th. The oil and gas producer reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.05. Carrizo Oil & Gas had a return on equity of 343.79% and a net margin of 26.44%. The firm had revenue of $151.36 million during the quarter, compared to the consensus estimate of $147.19 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The business’s revenue was up 86.3% on a year-over-year basis. On average, analysts forecast that Carrizo Oil & Gas will post $1.13 EPS for the current year.
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In other news, Director Frank A. Wojtek sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $24.24, for a total value of $67,872.00. Following the transaction, the director now owns 30,008 shares of the company’s stock, valued at $727,393.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Carrizo Oil & Gas by 20,572.2% in the first quarter. BlackRock Inc. now owns 8,555,207 shares of the oil and gas producer’s stock valued at $245,193,000 after buying an additional 8,513,822 shares in the last quarter. Vanguard Group Inc. boosted its position in Carrizo Oil & Gas by 6.2% in the first quarter. Vanguard Group Inc. now owns 6,022,707 shares of the oil and gas producer’s stock valued at $172,611,000 after buying an additional 350,219 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in Carrizo Oil & Gas by 0.3% in the first quarter. Frontier Capital Management Co. LLC now owns 4,190,832 shares of the oil and gas producer’s stock valued at $120,109,000 after buying an additional 10,873 shares in the last quarter. State Street Corp boosted its position in Carrizo Oil & Gas by 17.9% in the first quarter. State Street Corp now owns 2,964,206 shares of the oil and gas producer’s stock valued at $84,959,000 after buying an additional 450,443 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in Carrizo Oil & Gas by 7.8% in the first quarter. William Blair Investment Management LLC now owns 1,413,198 shares of the oil and gas producer’s stock valued at $40,502,000 after buying an additional 102,673 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.
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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