Carrizo Oil & Gas Inc to Post Q1 2018 Earnings of $0.56 Per Share, Jefferies Group Forecasts (CRZO)

Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Stock analysts at Jefferies Group cut their Q1 2018 earnings per share (EPS) estimates for Carrizo Oil & Gas in a report released on Wednesday. Jefferies Group analyst M. Hsu now expects that the oil and gas producer will post earnings of $0.56 per share for the quarter, down from their prior forecast of $0.76. Jefferies Group currently has a “Buy” rating and a $36.00 target price on the stock. Jefferies Group also issued estimates for Carrizo Oil & Gas’ Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.81 EPS, Q4 2018 earnings at $0.98 EPS and FY2018 earnings at $3.03 EPS.

Carrizo Oil & Gas (NASDAQ:CRZO) last announced its earnings results on Tuesday, May 9th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.05. Carrizo Oil & Gas had a negative net margin of 264.25% and a positive return on equity of 85.42%. The firm had revenue of $151.36 million for the quarter, compared to analyst estimates of $147.19 million. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue was up 86.3% compared to the same quarter last year.

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

Several other equities analysts also recently weighed in on CRZO. Zacks Investment Research upgraded shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, February 17th. Canaccord Genuity set a $44.00 target price on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Saturday, February 11th. Royal Bank of Canada set a $40.00 target price on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Thursday, May 11th. FBR & Co reiterated an “outperform” rating and issued a $42.00 target price (down previously from $47.00) on shares of Carrizo Oil & Gas in a research note on Friday, February 24th. Finally, Williams Capital reiterated a “buy” rating and issued a $42.00 target price on shares of Carrizo Oil & Gas in a research note on Tuesday, May 9th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $44.83.

Carrizo Oil & Gas (NASDAQ:CRZO) opened at 24.29 on Friday. The firm’s 50 day moving average is $26.13 and its 200-day moving average is $32.77. The firm’s market cap is $1.60 billion. Carrizo Oil & Gas has a 12 month low of $23.49 and a 12 month high of $43.96.

A number of large investors have recently made changes to their positions in CRZO. Point72 Asia Hong Kong Ltd raised its stake in shares of Carrizo Oil & Gas by 1,014.9% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,523 shares of the oil and gas producer’s stock valued at $101,000 after buying an additional 3,207 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of Carrizo Oil & Gas by 33.7% in the first quarter. Glen Harbor Capital Management LLC now owns 3,892 shares of the oil and gas producer’s stock valued at $112,000 after buying an additional 980 shares during the last quarter. Elkfork Partners LLC bought a new stake in shares of Carrizo Oil & Gas during the fourth quarter valued at about $132,000. Ameritas Investment Partners Inc. bought a new stake in shares of Carrizo Oil & Gas during the first quarter valued at about $150,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Carrizo Oil & Gas by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 6,760 shares of the oil and gas producer’s stock valued at $193,000 after buying an additional 120 shares during the last quarter.

In related news, Director Steven A. Webster bought 25,000 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was acquired at an average cost of $31.25 per share, for a total transaction of $781,250.00. Following the completion of the transaction, the director now directly owns 2,577,180 shares in the company, valued at approximately $80,536,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven A. Webster bought 40,830 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were bought at an average price of $30.99 per share, with a total value of $1,265,321.70. Following the completion of the transaction, the director now owns 2,618,010 shares of the company’s stock, valued at $81,132,129.90. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 90,830 shares of company stock valued at $2,736,072 and have sold 158,678 shares valued at $4,472,550. Insiders own 6.30% of the company’s stock.

About Carrizo Oil & Gas

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.

12 Month Chart for NASDAQ:CRZO

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