Carrizo Oil & Gas (NASDAQ:CRZO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
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. “
CRZO has been the topic of several other reports. SunTrust Banks set a $20.00 price target on Carrizo Oil & Gas and gave the company a “buy” rating in a research report on Monday, October 16th. Northland Securities set a $35.00 price target on Carrizo Oil & Gas and gave the company a “buy” rating in a research report on Monday, December 11th. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price target (up from $20.00) on shares of Carrizo Oil & Gas in a research report on Thursday, November 9th. Mizuho lowered Carrizo Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price target for the company from $32.00 to $17.00 in a research report on Thursday, September 7th. Finally, Scotiabank restated a “buy” rating and set a $33.00 price target on shares of Carrizo Oil & Gas in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.44.
Shares of Carrizo Oil & Gas (NASDAQ CRZO) opened at $18.39 on Thursday. The firm has a market capitalization of $1,540.00, a P/E ratio of 15.64 and a beta of 2.18. Carrizo Oil & Gas has a 1 year low of $11.10 and a 1 year high of $40.14. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.32 and a quick ratio of 0.32.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.09. The firm had revenue of $181.28 million for the quarter, compared to analyst estimates of $177.97 million. Carrizo Oil & Gas had a return on equity of 58.37% and a net margin of 16.08%. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. equities research analysts anticipate that Carrizo Oil & Gas will post 1.33 earnings per share for the current year.
In related news, insider S P. Iv Johnson sold 8,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $18.69, for a total transaction of $149,520.00. Following the completion of the sale, the insider now owns 231,194 shares in the company, valued at $4,321,015.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kings Point Capital Management boosted its stake in shares of Carrizo Oil & Gas by 220.0% in the second quarter. Kings Point Capital Management now owns 8,000 shares of the oil and gas producer’s stock worth $139,000 after acquiring an additional 5,500 shares during the period. Advisor Group Inc. boosted its stake in shares of Carrizo Oil & Gas by 47.4% in the second quarter. Advisor Group Inc. now owns 8,121 shares of the oil and gas producer’s stock worth $141,000 after acquiring an additional 2,611 shares during the period. Van ECK Associates Corp boosted its stake in shares of Carrizo Oil & Gas by 15.0% in the second quarter. Van ECK Associates Corp now owns 9,028 shares of the oil and gas producer’s stock worth $157,000 after acquiring an additional 1,177 shares during the period. Amalgamated Bank bought a new position in shares of Carrizo Oil & Gas in the third quarter worth about $182,000. Finally, First Interstate Bank boosted its stake in shares of Carrizo Oil & Gas by 40.6% in the second quarter. First Interstate Bank now owns 11,740 shares of the oil and gas producer’s stock worth $205,000 after acquiring an additional 3,390 shares during the period.
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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.
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