Equities research analysts expect that Carrizo Oil & Gas Inc (NASDAQ:CRZO) will report $238.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Carrizo Oil & Gas’ earnings, with the highest sales estimate coming in at $246.31 million and the lowest estimate coming in at $233.15 million. Carrizo Oil & Gas posted sales of $143.83 million in the same quarter last year, which suggests a positive year-over-year growth rate of 65.8%. The business is expected to issue its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Carrizo Oil & Gas will report full-year sales of $238.40 million for the current fiscal year, with estimates ranging from $733.80 million to $753.18 million. For the next year, analysts anticipate that the firm will post sales of $985.63 million per share, with estimates ranging from $916.70 million to $1.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Carrizo Oil & Gas.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its earnings results on Tuesday, November 7th. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. The business had revenue of $181.28 million for the quarter, compared to analyst estimates of $177.97 million. Carrizo Oil & Gas had a net margin of 16.08% and a return on equity of 58.37%. The company’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 EPS.
Several equities research analysts recently weighed in on the stock. SunTrust Banks reiterated a “buy” rating and set a $26.00 price objective on shares of Carrizo Oil & Gas in a research note on Wednesday. BMO Capital Markets set a $20.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Citigroup assumed coverage on shares of Carrizo Oil & Gas in a research note on Thursday, December 28th. They set a “hold” rating and a $26.00 price objective on the stock. Piper Jaffray Companies dropped their price objective on shares of Carrizo Oil & Gas from $43.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, September 18th. Finally, Jefferies Group set a $21.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Carrizo Oil & Gas currently has an average rating of “Buy” and an average price target of $28.33.
In other Carrizo Oil & Gas news, insider S P. Iv Johnson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $18.69, for a total value of $149,520.00. Following the completion of the transaction, the insider now owns 231,194 shares in the company, valued at approximately $4,321,015.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CRZO. Advisor Group Inc. grew its position in Carrizo Oil & Gas by 47.4% in 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 during the last quarter. Van ECK Associates Corp grew its position in Carrizo Oil & Gas by 15.0% in 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 during the last quarter. Amalgamated Bank bought a new position in Carrizo Oil & Gas in the 3rd quarter worth about $182,000. Affinity Investment Advisors LLC bought a new position in Carrizo Oil & Gas in the 3rd quarter worth about $211,000. Finally, Crossmark Global Holdings Inc. bought a new position in Carrizo Oil & Gas in the 3rd quarter worth about $231,000. Hedge funds and other institutional investors own 99.96% of the company’s stock.
Carrizo Oil & Gas (CRZO) traded up $0.50 on Friday, reaching $24.36. 3,029,841 shares of the company traded hands, compared to its average volume of 2,342,571. The firm has a market capitalization of $1,984.24, a price-to-earnings ratio of 16.03 and a beta of 2.18. Carrizo Oil & Gas has a 52-week low of $11.10 and a 52-week high of $39.48. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 4.38.
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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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