Carrizo Oil & Gas Inc (NASDAQ:CRZO) posted its quarterly earnings data on Tuesday. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The business had revenue of $151.36 million during the quarter, compared to analyst estimates of $147.19 million. Carrizo Oil & Gas had a positive return on equity of 85.42% and a negative net margin of 264.25%. The company’s revenue for the quarter was up 86.3% on a year-over-year basis. During the same period last year, the company earned $0.16 EPS.
Shares of Carrizo Oil & Gas (NASDAQ:CRZO) traded up 2.96% on Friday, reaching $24.35. The company had a trading volume of 741,040 shares. Carrizo Oil & Gas has a 12 month low of $23.49 and a 12 month high of $43.96. The firm’s market capitalization is $1.60 billion. The firm’s 50 day moving average is $26.22 and its 200 day moving average is $32.84.
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In related news, CFO David L. Pitts sold 17,365 shares of Carrizo Oil & Gas stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $28.16, for a total transaction of $488,998.40. Following the completion of the transaction, the chief financial officer now directly owns 57,138 shares in the company, valued at approximately $1,609,006.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David L. Pitts sold 4,072 shares of Carrizo Oil & Gas stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $26.48, for a total value of $107,826.56. Following the transaction, the chief financial officer now owns 79,802 shares of the company’s stock, valued at $2,113,156.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 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.
A number of hedge funds have recently added to or reduced their stakes in CRZO. Chicago Equity Partners LLC purchased a new stake in Carrizo Oil & Gas during the third quarter valued at approximately $663,000. Financial Architects Inc boosted its stake in Carrizo Oil & Gas by 29.0% in the third quarter. Financial Architects Inc now owns 4,000 shares of the oil and gas producer’s stock valued at $162,000 after buying an additional 900 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in Carrizo Oil & Gas during the third quarter valued at approximately $8,464,000. Public Employees Retirement Association of Colorado boosted its stake in Carrizo Oil & Gas by 350.8% in the third quarter. Public Employees Retirement Association of Colorado now owns 397,704 shares of the oil and gas producer’s stock valued at $16,155,000 after buying an additional 309,479 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in Carrizo Oil & Gas during the third quarter valued at approximately $406,000.
Several equities research analysts have recently issued reports on CRZO shares. Royal Bank of Canada set a $40.00 price objective on Carrizo Oil & Gas and gave the company a “buy” rating in a research note on Thursday, May 11th. Zacks Investment Research raised Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Friday, February 17th. Credit Suisse Group AG reissued a “hold” rating and set a $42.00 price target on shares of Carrizo Oil & Gas in a research note on Sunday, February 5th. Canaccord Genuity set a $44.00 price target on Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Finally, Jefferies Group LLC set a $36.00 price target on Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $44.83.
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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