Carrizo Oil & Gas Inc (NASDAQ:CRZO) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 8,962,220 shares, an increase of 18.6% from the October 31st total of 7,554,977 shares. Based on an average daily trading volume, of 3,121,234 shares, the days-to-cover ratio is currently 2.9 days. Currently, 10.3% of the shares of the company are sold short.
CRZO has been the topic of a number of analyst reports. BidaskClub raised shares of Carrizo Oil & Gas from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. JPMorgan Chase & Co. dropped their price objective on shares of Carrizo Oil & Gas from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, November 14th. Williams Capital set a $38.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a report on Tuesday, November 6th. Johnson Rice raised shares of Carrizo Oil & Gas from an “accumulate” rating to a “buy” rating in a research note on Wednesday, August 8th. Finally, ValuEngine cut shares of Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Carrizo Oil & Gas presently has a consensus rating of “Buy” and an average target price of $29.59.
In related news, CEO S P. Iv Johnson sold 8,000 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $17.60, for a total value of $140,800.00. Following the sale, the chief executive officer now owns 155,076 shares of the company’s stock, valued at approximately $2,729,337.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John Bradley Fisher sold 7,500 shares of the stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $25.01, for a total transaction of $187,575.00. Following the completion of the sale, the chief operating officer now directly owns 157,436 shares in the company, valued at approximately $3,937,474.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,500 shares of company stock worth $697,495. Insiders own 5.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CRZO. Zimmer Partners LP acquired a new position in shares of Carrizo Oil & Gas in the third quarter worth about $76,860,000. Advisors Asset Management Inc. boosted its holdings in shares of Carrizo Oil & Gas by 26,788.1% in the second quarter. Advisors Asset Management Inc. now owns 1,821,670 shares of the oil and gas producer’s stock worth $183,000 after buying an additional 1,814,895 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Carrizo Oil & Gas by 22.1% in the third quarter. Vanguard Group Inc. now owns 9,032,268 shares of the oil and gas producer’s stock worth $227,614,000 after buying an additional 1,633,508 shares during the period. BlackRock Inc. boosted its holdings in shares of Carrizo Oil & Gas by 14.4% in the third quarter. BlackRock Inc. now owns 12,449,324 shares of the oil and gas producer’s stock worth $313,723,000 after buying an additional 1,569,126 shares during the period. Finally, Laurion Capital Management LP acquired a new position in shares of Carrizo Oil & Gas in the second quarter worth about $38,719,000. Institutional investors own 96.57% of the company’s stock.
Shares of CRZO opened at $17.70 on Friday. The company has a market capitalization of $1.56 billion, a PE ratio of 12.38 and a beta of 2.28. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.27 and a current ratio of 0.27. Carrizo Oil & Gas has a 12-month low of $13.49 and a 12-month high of $31.57.
Carrizo Oil & Gas (NASDAQ:CRZO) last announced its earnings results on Monday, November 5th. The oil and gas producer reported $0.94 EPS for the quarter, topping the consensus estimate of $0.79 by $0.15. Carrizo Oil & Gas had a net margin of 12.23% and a return on equity of 56.06%. The company had revenue of $303.40 million during the quarter, compared to analysts’ expectations of $265.34 million. During the same period last year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was up 67.3% on a year-over-year basis. As a group, research analysts forecast that Carrizo Oil & Gas will post 3.12 EPS for the current fiscal year.
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About Carrizo Oil & Gas
Carrizo Oil & Gas, Inc, together with its subsidiaries, engages in the exploration, development, and production of crude oil, natural gas liquids, and gas from resource plays primarily in the United States. The company holds interests in oil and gas plays, including Eagle Ford Shale in South Texas; and the Delaware Basin in West Texas.
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