Carrizo Oil & Gas (NASDAQ:CRZO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $21.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 8.64% from the stock’s previous close.

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 equities research analysts have also issued research reports about the stock. BMO Capital Markets set a $20.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Jefferies Group lowered shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $25.00 to $16.00 in a research note on Monday, October 9th. Mizuho lowered shares of Carrizo Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $32.00 to $17.00 in a research note on Thursday, September 7th. Royal Bank Of Canada reiterated a “buy” rating and set a $23.00 price objective on shares of Carrizo Oil & Gas in a research note on Friday, September 15th. Finally, Scotiabank reiterated a “buy” rating and set a $33.00 price objective on shares of Carrizo Oil & Gas in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Carrizo Oil & Gas presently has a consensus rating of “Hold” and a consensus target price of $28.76.

Shares of Carrizo Oil & Gas (CRZO) traded up $0.91 during mid-day trading on Thursday, hitting $19.33. 3,701,274 shares of the stock traded hands, compared to its average volume of 2,721,013. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 4.38. Carrizo Oil & Gas has a twelve month low of $11.10 and a twelve month high of $43.96. The company has a market capitalization of $1,527.27, a PE ratio of 15.00 and a beta of 2.20.

Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.24 by $0.09. Carrizo Oil & Gas had a net margin of 16.08% and a return on equity of 58.37%. The business had revenue of $181.28 million for the quarter, compared to analysts’ expectations of $177.97 million. During the same quarter last year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 63.1% compared to the same quarter last year. equities research analysts expect that Carrizo Oil & Gas will post 1.29 earnings per share for the current fiscal year.

In other news, Director Steven A. Webster purchased 75,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were bought at an average price of $11.70 per share, for a total transaction of $877,500.00. Following the completion of the purchase, the director now owns 2,786,310 shares of the company’s stock, valued at $32,599,827. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan boosted its holdings in Carrizo Oil & Gas by 4.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 14,620 shares of the oil and gas producer’s stock worth $255,000 after buying an additional 630 shares in the last quarter. Texas Permanent School Fund boosted its holdings in Carrizo Oil & Gas by 1.9% during the second quarter. Texas Permanent School Fund now owns 45,163 shares of the oil and gas producer’s stock worth $787,000 after buying an additional 838 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Carrizo Oil & Gas by 2.9% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 33,911 shares of the oil and gas producer’s stock worth $591,000 after buying an additional 950 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Carrizo Oil & Gas by 15.0% during the second quarter. Van ECK Associates Corp now owns 9,028 shares of the oil and gas producer’s stock worth $157,000 after buying an additional 1,177 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in Carrizo Oil & Gas by 0.9% during the second quarter. Eagle Asset Management Inc. now owns 143,540 shares of the oil and gas producer’s stock worth $2,500,000 after buying an additional 1,320 shares in the last quarter.

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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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Analyst Recommendations for Carrizo Oil & Gas (NASDAQ:CRZO)

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