Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Stock analysts at Jefferies Financial Group reduced their FY2018 earnings per share estimates for shares of Carrizo Oil & Gas in a research note issued on Monday, October 15th, Zacks Investment Research reports. Jefferies Financial Group analyst M. Lear now forecasts that the oil and gas producer will post earnings of $2.88 per share for the year, down from their previous estimate of $3.26. Jefferies Financial Group has a “Buy” rating and a $28.00 price objective on the stock. Jefferies Financial Group also issued estimates for Carrizo Oil & Gas’ Q4 2018 earnings at $0.79 EPS, Q2 2020 earnings at $1.10 EPS, Q3 2020 earnings at $1.11 EPS and FY2020 earnings at $4.34 EPS.
Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their target price on Carrizo Oil & Gas from $26.00 to $29.00 and gave the company a “$28.42” rating in a research note on Monday, July 23rd. Williams Capital reissued a “buy” rating and issued a $41.00 target price on shares of Carrizo Oil & Gas in a research note on Monday, July 23rd. Zacks Investment Research raised Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, August 9th. Johnson Rice raised Carrizo Oil & Gas from an “accumulate” rating to a “buy” rating in a research note on Wednesday, August 8th. Finally, Stifel Nicolaus increased their target price on Carrizo Oil & Gas from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $29.71.
Carrizo Oil & Gas stock traded down $0.26 during mid-day trading on Wednesday, hitting $19.03. The stock had a trading volume of 4,525,827 shares, compared to its average volume of 2,398,297. Carrizo Oil & Gas has a 12 month low of $13.49 and a 12 month high of $31.57. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 1.84. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 13.31 and a beta of 2.28.
Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.15. The business had revenue of $303.40 million for the quarter, compared to analysts’ expectations of $265.34 million. Carrizo Oil & Gas had a return on equity of 56.06% and a net margin of 12.23%. The firm’s quarterly revenue was up 67.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share.
Institutional investors have recently made changes to their positions in the stock. 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 valued at $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 valued at $183,000 after buying an additional 1,814,895 shares during the last quarter. Creative Planning acquired a new stake in Carrizo Oil & Gas in the 2nd quarter valued at approximately $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 valued at $230,000 after buying an additional 5,397 shares during the last quarter. Finally, Berkshire Asset Management LLC PA acquired a new stake in Carrizo Oil & Gas in the 2nd quarter valued at approximately $252,000.
In other news, COO John Bradley Fisher sold 7,500 shares of the firm’s 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 sale, the chief operating officer now owns 157,436 shares of the company’s stock, valued at $3,937,474.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider S P. Iv Johnson sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $23.82, for a total value of $190,560.00. Following the sale, the insider now directly owns 171,076 shares in the company, valued at approximately $4,075,030.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,500 shares of company stock worth $737,095. 5.40% of the stock is currently owned by insiders.
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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