Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) had its price target cut by Robert W. Baird from $50.00 to $36.00 in a report issued on Wednesday, May 24th. They currently have an outperform rating on the oil and gas producer’s stock.
A number of other equities analysts also recently issued reports on the company. Williams Capital reiterated a buy rating and set a $42.00 price target on shares of Carrizo Oil & Gas in a research report on Tuesday, May 9th. Credit Suisse Group restated a hold rating and issued a $42.00 target price on shares of Carrizo Oil & Gas in a research report on Sunday, February 5th. Royal Bank of Canada restated a buy rating and issued a $43.00 target price on shares of Carrizo Oil & Gas in a research report on Tuesday, April 25th. Jefferies Group LLC set a $36.00 target price on Carrizo Oil & Gas and gave the company a buy rating in a research report on Wednesday, May 17th. Finally, Zacks Investment Research downgraded Carrizo Oil & Gas from a buy rating to a hold rating in a research report on Monday, February 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $44.41.
Carrizo Oil & Gas (CRZO) traded up 0.835% on Wednesday, reaching $18.715. The company had a trading volume of 2,877,850 shares. The stock’s 50 day moving average is $22.98 and its 200-day moving average is $30.73. Carrizo Oil & Gas has a 1-year low of $18.31 and a 1-year high of $43.96. The stock’s market capitalization is $1.23 billion.
Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings results on Tuesday, May 9th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $151.36 million for the quarter, compared to the consensus estimate of $147.19 million. Carrizo Oil & Gas had a negative return on equity of 128.17% and a negative net margin of 63.08%. Carrizo Oil & Gas’s revenue for the quarter was up 86.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 earnings per share. On average, equities analysts predict that Carrizo Oil & Gas will post $1.27 EPS for the current fiscal year.
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In related news, General Counsel Gerald A. Morton sold 1,632 shares of Carrizo Oil & Gas stock in a transaction on Monday, March 27th. The stock was sold at an average price of $26.92, for a total value of $43,933.44. Following the completion of the transaction, the general counsel now directly owns 88,360 shares in the company, valued at $2,378,651.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider S P. Iv Johnson sold 48,947 shares of Carrizo Oil & Gas stock in a transaction on Monday, March 20th. The shares were sold at an average price of $28.16, for a total value of $1,378,347.52. Following the completion of the transaction, the insider now owns 177,367 shares of the company’s stock, valued at $4,994,654.72. The disclosure for this sale can be found here. Insiders sold 152,678 shares of company stock valued at $4,284,690 over the last ninety days. Insiders own 6.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd raised its position in 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 worth $101,000 after buying an additional 3,207 shares during the period. Glen Harbor Capital Management LLC raised its position in 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 worth $112,000 after buying an additional 980 shares during the period. Elkfork Partners LLC bought a new position in Carrizo Oil & Gas during the fourth quarter worth about $132,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Carrizo Oil & Gas during the first quarter worth about $150,000. Finally, State of Alaska Department of Revenue increased 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 worth $193,000 after buying an additional 120 shares during the period.
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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