Zacks: Brokerages Expect Carrizo Oil & Gas Inc (CRZO) to Post $0.82 EPS

Brokerages expect Carrizo Oil & Gas Inc (NASDAQ:CRZO) to report earnings of $0.82 per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Carrizo Oil & Gas’ earnings, with the lowest EPS estimate coming in at $0.74 and the highest estimate coming in at $0.97. Carrizo Oil & Gas posted earnings per share of $0.33 during the same quarter last year, which would indicate a positive year over year growth rate of 148.5%. The company is scheduled to report its next earnings report on Tuesday, November 6th.

On average, analysts expect that Carrizo Oil & Gas will report full-year earnings of $3.00 per share for the current financial year, with EPS estimates ranging from $2.86 to $3.26. For the next fiscal year, analysts expect that the company will report earnings of $4.17 per share, with EPS estimates ranging from $3.16 to $4.81. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that follow Carrizo Oil & Gas.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings results on Monday, August 6th. The oil and gas producer reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.12. The company had revenue of $264.00 million for the quarter, compared to the consensus estimate of $230.08 million. Carrizo Oil & Gas had a return on equity of 52.59% and a net margin of 5.84%. The firm’s quarterly revenue was up 58.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 EPS.

Several analysts recently weighed in on CRZO shares. Williams Capital restated a “buy” rating and issued a $41.00 price target on shares of Carrizo Oil & Gas in a research note on Monday, July 23rd. SunTrust Banks restated a “buy” rating and issued a $35.00 price target on shares of Carrizo Oil & Gas in a research note on Monday, August 20th. Royal Bank of Canada restated a “buy” rating and issued a $29.00 price target on shares of Carrizo Oil & Gas in a research note on Thursday, July 12th. JPMorgan Chase & Co. upped their price target on Carrizo Oil & Gas from $26.00 to $29.00 and gave the stock a “$28.42” rating in a research note on Monday, July 23rd. Finally, TheStreet upgraded Carrizo Oil & Gas from a “d+” rating to a “c-” rating in a research note on Tuesday, May 29th. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $29.58.

Shares of Carrizo Oil & Gas stock traded up $0.69 during midday trading on Wednesday, hitting $26.31. The company had a trading volume of 47,154 shares, compared to its average volume of 1,826,626. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 3.52. The company has a market capitalization of $2.10 billion, a P/E ratio of 18.14 and a beta of 2.21. Carrizo Oil & Gas has a 52-week low of $13.49 and a 52-week high of $31.57.

In other news, CEO S P. Iv Johnson sold 8,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $22.55, for a total transaction of $180,400.00. Following the transaction, the chief executive officer now directly owns 180,276 shares of the company’s stock, valued at approximately $4,065,223.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider S P. Iv Johnson sold 6,000 shares of the 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 transaction, the insider now directly owns 195,076 shares in the company, valued at $5,856,181.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,000 shares of company stock worth $770,520. Company insiders own 5.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRZO. Advisors Asset Management Inc. lifted its holdings in shares of Carrizo Oil & Gas by 26,788.1% during 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 period. Dimensional Fund Advisors LP lifted its holdings in shares of Carrizo Oil & Gas by 105.0% during 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 buying an additional 1,694,935 shares during the period. Laurion Capital Management LP bought a new position in shares of Carrizo Oil & Gas during the 2nd quarter valued at $38,719,000. Hood River Capital Management LLC bought a new position in shares of Carrizo Oil & Gas during the 2nd quarter valued at $26,558,000. Finally, BlackRock Inc. lifted its holdings in shares of Carrizo Oil & Gas by 7.3% during the 2nd quarter. BlackRock Inc. now owns 10,880,198 shares of the oil and gas producer’s stock valued at $303,014,000 after buying an additional 736,153 shares during the period.

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.

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

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