Carrizo Oil & Gas Inc (CRZO) Forecasted to Earn Q3 2018 Earnings of $0.97 Per Share

Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Stock analysts at Jefferies Financial Group upped their Q3 2018 earnings estimates for Carrizo Oil & Gas in a report issued on Wednesday, July 18th. Jefferies Financial Group analyst M. Lear now anticipates that the oil and gas producer will post earnings per share of $0.97 for the quarter, up from their prior forecast of $0.90. Jefferies Financial Group currently has a “Hold” rating and a $27.00 target price on the stock. Jefferies Financial Group also issued estimates for Carrizo Oil & Gas’ Q4 2018 earnings at $1.14 EPS, FY2018 earnings at $3.26 EPS, Q2 2020 earnings at $1.14 EPS and FY2020 earnings at $4.45 EPS.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its earnings results on Monday, May 7th. The oil and gas producer reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.15. The business had revenue of $225.28 million for the quarter, compared to analyst estimates of $200.88 million. Carrizo Oil & Gas had a net margin of 9.10% and a return on equity of 48.53%. Carrizo Oil & Gas’s revenue was up 48.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS.

A number of other research firms have also weighed in on CRZO. BidaskClub lowered shares of Carrizo Oil & Gas from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 30th. Howard Weil lowered shares of Carrizo Oil & Gas from an “outperform” rating to a “sector perform” rating in a report on Monday, April 9th. BMO Capital Markets upped their target price on shares of Carrizo Oil & Gas from $30.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, June 13th. ValuEngine raised shares of Carrizo Oil & Gas from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 9th. Finally, TheStreet raised shares of Carrizo Oil & Gas from a “d+” rating to a “c-” rating in a report on Tuesday, May 29th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Carrizo Oil & Gas currently has an average rating of “Buy” and an average target price of $27.67.

Carrizo Oil & Gas opened at $28.82 on Thursday, MarketBeat.com reports. The company has a debt-to-equity ratio of 3.69, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $2.32 billion, a P/E ratio of 20.15 and a beta of 2.20. Carrizo Oil & Gas has a 1-year low of $11.10 and a 1-year high of $31.57.

In other news, insider S P. Iv Johnson sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $30.02, for a total value of $180,120.00. Following the completion of the sale, the insider now owns 195,076 shares of the company’s stock, valued at approximately $5,856,181.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider S P. Iv Johnson sold 8,000 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $27.43, for a total transaction of $219,440.00. Following the completion of the sale, the insider now directly owns 187,076 shares of the company’s stock, valued at approximately $5,131,494.68. The disclosure for this sale can be found here. In the last three months, insiders sold 142,428 shares of company stock valued at $3,809,457. Corporate insiders own 5.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in CRZO. LSV Asset Management boosted its stake in shares of Carrizo Oil & Gas by 122.6% in the 1st quarter. LSV Asset Management now owns 3,437,100 shares of the oil and gas producer’s stock valued at $54,993,000 after purchasing an additional 1,893,300 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Carrizo Oil & Gas by 105.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,308,757 shares of the oil and gas producer’s stock valued at $52,940,000 after purchasing an additional 1,694,935 shares in the last quarter. Kimmeridge Energy Management Company LLC boosted its stake in shares of Carrizo Oil & Gas by 34.2% in the 1st quarter. Kimmeridge Energy Management Company LLC now owns 5,356,300 shares of the oil and gas producer’s stock valued at $85,701,000 after purchasing an additional 1,365,800 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of Carrizo Oil & Gas by 9.2% in the 1st quarter. Frontier Capital Management Co. LLC now owns 7,686,789 shares of the oil and gas producer’s stock valued at $122,989,000 after purchasing an additional 645,974 shares in the last quarter. Finally, Caymus Capital Partners L.P. boosted its stake in shares of Carrizo Oil & Gas by 75.6% in the 1st quarter. Caymus Capital Partners L.P. now owns 1,323,412 shares of the oil and gas producer’s stock valued at $21,175,000 after purchasing an additional 569,700 shares in the last quarter.

Carrizo Oil & Gas Company Profile

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.

Further Reading: Momentum Indicator: Relative Strength Index

Earnings History and Estimates for Carrizo Oil & Gas (NASDAQ:CRZO)

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