Trade Report: The Carrizo Oil & Gas Inc. (CRZO) Downgraded by Goldman Sachs Group Inc.

The Carrizo Oil & Gas Inc. (CRZO) Downgraded by Goldman Sachs Group Inc.

Carrizo Oil & Gas Inc. (NASDAQ:CRZO) was downgraded by stock analysts at Goldman Sachs Group Inc. to a “hold” rating in a research report issued to clients and investors on Tuesday.

A number of other brokerages have also issued reports on CRZO. Mizuho started coverage on shares of Carrizo Oil & Gas in a research note on Wednesday, October 5th. They set a “neutral” rating and a $42.00 price target on the stock. Zacks Investment Research lowered shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Simmons reissued a “neutral” rating and set a $46.00 price objective (up from $42.00) on shares of Carrizo Oil & Gas in a research report on Monday, August 15th. Credit Suisse Group AG downgraded Carrizo Oil & Gas from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $42.00 to $41.00 in a research report on Thursday, October 13th. Finally, FBR & Co boosted their price objective on Carrizo Oil & Gas from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 6th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $40.04.

Carrizo Oil & Gas (NASDAQ:CRZO) opened at 39.81 on Tuesday. The stock’s market capitalization is $2.35 billion. Carrizo Oil & Gas has a 52-week low of $16.10 and a 52-week high of $43.56. The firm’s 50-day moving average is $38.23 and its 200-day moving average is $36.22.

Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.16. The company had revenue of $107.30 million for the quarter, compared to analyst estimates of $119.67 million. Carrizo Oil & Gas had a negative net margin of 421.40% and a positive return on equity of 19.03%. The business’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. Analysts predict that Carrizo Oil & Gas will post $1.06 earnings per share for the current year.

In other Carrizo Oil & Gas news, Director Roger A. Ramsey sold 1,000 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $39.86, for a total value of $39,860.00. Following the completion of the transaction, the director now owns 33,450 shares in the company, valued at $1,333,317. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider S P. Iv Johnson sold 6,000 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $39.68, for a total value of $238,080.00. Following the completion of the transaction, the insider now owns 601,717 shares of the company’s stock, valued at approximately $23,876,130.56. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRZO. Eagle Asset Management Inc. boosted its position in Carrizo Oil & Gas by 16.4% in the third quarter. Eagle Asset Management Inc. now owns 93,957 shares of the company’s stock valued at $3,816,000 after buying an additional 13,259 shares during the last quarter. Gradient Investments LLC boosted its position in Carrizo Oil & Gas by 29.6% in the third quarter. Gradient Investments LLC now owns 16,809 shares of the company’s stock valued at $683,000 after buying an additional 3,840 shares during the last quarter. Macquarie Group Ltd. boosted its position in Carrizo Oil & Gas by 9.1% in the second quarter. Macquarie Group Ltd. now owns 690,577 shares of the company’s stock valued at $24,757,000 after buying an additional 57,410 shares during the last quarter. Mason Street Advisors LLC acquired a new position in Carrizo Oil & Gas during the second quarter valued at about $383,000. Finally, Royal Bank of Canada boosted its position in Carrizo Oil & Gas by 13.1% in the second quarter. Royal Bank of Canada now owns 356,104 shares of the company’s stock valued at $12,767,000 after buying an additional 41,324 shares during the last quarter.

Carrizo Oil & Gas Company Profile

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