FY2019 Earnings Forecast for Carrizo Oil & Gas Inc (CRZO) Issued By SunTrust Banks

Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Analysts at SunTrust Banks cut their FY2019 earnings per share (EPS) estimates for shares of Carrizo Oil & Gas in a research note issued on Tuesday, November 27th. SunTrust Banks analyst N. Dingmann now expects that the oil and gas producer will post earnings of $4.24 per share for the year, down from their prior forecast of $4.63. SunTrust Banks has a “Buy” rating and a $35.00 price objective on the stock. SunTrust Banks also issued estimates for Carrizo Oil & Gas’ FY2020 earnings at $4.64 EPS.

A number of other brokerages have also recently commented on CRZO. BidaskClub cut shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Stifel Nicolaus boosted their target price on shares of Carrizo Oil & Gas from $36.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Williams Capital restated a “buy” rating and set a $41.00 target price on shares of Carrizo Oil & Gas in a report on Tuesday, August 7th. Johnson Rice upgraded shares of Carrizo Oil & Gas from an “accumulate” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, ValuEngine cut shares of Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $29.59.

Shares of CRZO stock opened at $17.70 on Friday. Carrizo Oil & Gas has a 12 month low of $13.49 and a 12 month high of $31.57. The firm has a market cap of $1.58 billion, a PE ratio of 12.38 and a beta of 2.28. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.84.

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, beating the Zacks’ 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 firm had revenue of $303.40 million for the quarter, compared to analysts’ expectations of $265.34 million. During the same quarter in the previous year, the business posted $0.33 EPS. The company’s quarterly revenue was up 67.3% on a year-over-year basis.

In other news, CEO S P. Iv Johnson sold 8,000 shares of Carrizo Oil & Gas stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $17.60, for a total value of $140,800.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, COO John Bradley Fisher sold 7,500 shares of Carrizo Oil & Gas stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $25.01, for a total value of $187,575.00. Following the completion of the transaction, the chief operating officer now directly owns 157,436 shares of the company’s stock, valued at approximately $3,937,474.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,500 shares of company stock valued at $697,495. 5.40% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of CRZO. PNC Financial Services Group Inc. raised its position in Carrizo Oil & Gas by 91.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,625 shares of the oil and gas producer’s stock worth $156,000 after buying an additional 2,680 shares during the last quarter. Advisors Asset Management Inc. raised its position in Carrizo Oil & Gas by 26,788.1% in the 2nd 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 last quarter. Creative Planning purchased a new position in Carrizo Oil & Gas in the 2nd quarter worth about $222,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Carrizo Oil & Gas by 144.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the oil and gas producer’s stock worth $230,000 after buying an additional 5,397 shares during the last quarter. Finally, Cpwm LLC purchased a new position in Carrizo Oil & Gas in the 3rd quarter worth about $277,000. 96.57% of the stock is owned by institutional investors and hedge funds.

Carrizo Oil & Gas Company Profile

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

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