Brokerages Anticipate Carrizo Oil & Gas Inc (CRZO) Will Announce Quarterly Sales of $225.39 Million

Analysts expect that Carrizo Oil & Gas Inc (NASDAQ:CRZO) will announce sales of $225.39 million for the current quarter, Zacks reports. Ten analysts have provided estimates for Carrizo Oil & Gas’ earnings, with estimates ranging from $189.20 million to $246.31 million. Carrizo Oil & Gas reported sales of $143.83 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 56.7%. The company is scheduled to report its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Carrizo Oil & Gas will report full-year sales of $225.39 million for the current fiscal year, with estimates ranging from $683.60 million to $753.18 million. For the next year, analysts anticipate that the firm will post sales of $944.66 million per share, with estimates ranging from $699.40 million to $1.05 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Carrizo Oil & Gas.

Carrizo Oil & Gas (NASDAQ:CRZO) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.09. Carrizo Oil & Gas had a return on equity of 58.37% and a net margin of 16.08%. The firm had revenue of $181.28 million for the quarter, compared to the consensus estimate of $177.97 million. During the same quarter last year, the business posted $0.23 earnings per share. The firm’s revenue was up 63.1% compared to the same quarter last year.

Several research firms have issued reports on CRZO. SunTrust Banks reissued a “buy” rating and set a $24.00 target price on shares of Carrizo Oil & Gas in a research note on Friday, November 10th. Mizuho set a $21.00 target price on Carrizo Oil & Gas and gave the stock a “hold” rating in a research note on Friday, November 24th. Williams Capital set a $29.00 target price on Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Monday, November 27th. Scotiabank reissued a “buy” rating and set a $33.00 target price on shares of Carrizo Oil & Gas in a research note on Wednesday, November 8th. Finally, Zacks Investment Research raised Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $28.76.

In related news, Director Steven A. Webster bought 75,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was purchased at an average cost of $11.70 per share, with a total value of $877,500.00. Following the purchase, the director now directly owns 2,786,310 shares of the company’s stock, valued at approximately $32,599,827. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider S P. Iv Johnson sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $18.69, for a total value of $149,520.00. Following the transaction, the insider now directly owns 231,194 shares of the company’s stock, valued at $4,321,015.86. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kings Point Capital Management grew its stake in Carrizo Oil & Gas by 220.0% during the 2nd quarter. Kings Point Capital Management now owns 8,000 shares of the oil and gas producer’s stock worth $139,000 after purchasing an additional 5,500 shares in the last quarter. Advisor Group Inc. grew its stake in Carrizo Oil & Gas by 47.4% during the 2nd quarter. Advisor Group Inc. now owns 8,121 shares of the oil and gas producer’s stock worth $141,000 after purchasing an additional 2,611 shares in the last quarter. Van ECK Associates Corp grew its stake in Carrizo Oil & Gas by 15.0% during the 2nd quarter. Van ECK Associates Corp now owns 9,028 shares of the oil and gas producer’s stock worth $157,000 after purchasing an additional 1,177 shares in the last quarter. Amalgamated Bank acquired a new position in Carrizo Oil & Gas during the 3rd quarter worth $182,000. Finally, First Interstate Bank grew its stake in Carrizo Oil & Gas by 40.6% during the 2nd quarter. First Interstate Bank now owns 11,740 shares of the oil and gas producer’s stock worth $205,000 after purchasing an additional 3,390 shares in the last quarter.

Carrizo Oil & Gas (NASDAQ CRZO) opened at $20.33 on Friday. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $1,574.52, a P/E ratio of 15.46 and a beta of 2.18. Carrizo Oil & Gas has a 1 year low of $11.10 and a 1 year high of $42.75.

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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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Earnings History and Estimates for Carrizo Oil & Gas (NASDAQ:CRZO)

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