Piper Jaffray Companies Equities Analysts Reduce Earnings Estimates for Carrizo Oil & Gas Inc (CRZO)

Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Equities research analysts at Piper Jaffray Companies dropped their Q4 2018 earnings per share (EPS) estimates for Carrizo Oil & Gas in a research note issued on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and gas producer will post earnings of $0.78 per share for the quarter, down from their prior estimate of $0.87.

Several other brokerages also recently weighed in on CRZO. Capital One Financial downgraded Carrizo Oil & Gas from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. Williams Capital set a $38.00 price objective on Carrizo Oil & Gas and gave the company a “buy” rating in a research report on Tuesday, November 6th. BidaskClub downgraded Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Zacks Investment Research downgraded Carrizo Oil & Gas from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Seaport Global Securities downgraded Carrizo Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $28.00 to $18.00 in a research note on Monday, December 10th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.63.

CRZO opened at $12.64 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 8.84 and a beta of 2.47. Carrizo Oil & Gas has a 12-month low of $9.67 and a 12-month high of $31.57.

Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.15. The firm had revenue of $303.40 million during the quarter, compared to analyst estimates of $265.34 million. Carrizo Oil & Gas had a return on equity of 56.06% and a net margin of 12.23%. The business’s quarterly revenue was up 67.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share.

A number of hedge funds have recently bought and sold shares of CRZO. State of Alaska Department of Revenue increased its holdings in Carrizo Oil & Gas by 3.4% in the 4th quarter. State of Alaska Department of Revenue now owns 28,506 shares of the oil and gas producer’s stock valued at $321,000 after purchasing an additional 947 shares in the last quarter. Vanguard Group Inc raised its stake in Carrizo Oil & Gas by 22.1% during the third quarter. Vanguard Group Inc now owns 9,032,268 shares of the oil and gas producer’s stock worth $227,614,000 after acquiring an additional 1,633,508 shares during the period. Vanguard Group Inc. raised its stake in Carrizo Oil & Gas by 22.1% during the third quarter. Vanguard Group Inc. now owns 9,032,268 shares of the oil and gas producer’s stock worth $227,614,000 after acquiring an additional 1,633,508 shares during the period. Legal & General Group Plc raised its stake in Carrizo Oil & Gas by 17.1% during the third quarter. Legal & General Group Plc now owns 197,308 shares of the oil and gas producer’s stock worth $4,979,000 after acquiring an additional 28,797 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in Carrizo Oil & Gas by 67.8% during the third quarter. TIAA CREF Investment Management LLC now owns 275,565 shares of the oil and gas producer’s stock worth $6,944,000 after acquiring an additional 111,379 shares during the period.

In other news, CEO S P. Iv Johnson sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $17.60, for a total transaction of $140,800.00. Following the sale, the chief executive officer now owns 155,076 shares of the company’s stock, valued at approximately $2,729,337.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 24,000 shares of company stock worth $418,800 in the last ninety days. 5.40% of the stock is owned by corporate 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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Earnings History and Estimates for Carrizo Oil & Gas (NASDAQ:CRZO)

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