Today: Today, Carrizo Oil & Gas Inc. (CRZO) Rating Increased to Buy at KLR Group

Today, Carrizo Oil & Gas Inc. (CRZO) Rating Increased to Buy at KLR Group

Carrizo Oil & Gas Inc. (NASDAQ:CRZO) was upgraded by analysts at KLR Group from an “accumulate” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $47.00 target price on the stock, up from their previous target price of $44.00. KLR Group’s price objective would suggest a potential upside of 22.81% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Friday, August 19th. Credit Suisse Group AG cut shares of Carrizo Oil & Gas from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $42.00 to $41.00 in a report on Thursday, October 13th. Goldman Sachs Group Inc. cut shares of Carrizo Oil & Gas from a “buy” rating to a “neutral” rating and set a $45.00 price target on the stock. in a report on Tuesday, October 18th. Jefferies Group set a $48.00 price target on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a report on Tuesday, October 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Carrizo Oil & Gas in a report on Wednesday, August 31st. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $41.00.

Shares of Carrizo Oil & Gas (NASDAQ:CRZO) opened at 38.27 on Monday. The firm has a 50 day moving average price of $37.77 and a 200-day moving average price of $37.00. Carrizo Oil & Gas has a one year low of $16.10 and a one year high of $43.56. The firm’s market cap is $2.49 billion.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $111.20 million for the quarter, compared to analysts’ expectations of $127.99 million. Carrizo Oil & Gas had a negative net margin of 264.25% and a positive return on equity of 85.42%. Carrizo Oil & Gas’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS. Analysts forecast that Carrizo Oil & Gas will post $0.98 earnings per share for the current year.

In other news, CEO S P. Iv Johnson sold 6,000 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $34.74, for a total transaction of $208,440.00. Following the completion of the transaction, the chief executive officer now directly owns 589,815 shares of the company’s stock, valued at $20,490,173.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Roger A. Ramsey sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $39.86, for a total transaction of $39,860.00. Following the transaction, the director now directly owns 33,450 shares of the company’s stock, valued at $1,333,317. The disclosure for this sale can be found here. Insiders own 6.30% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in Carrizo Oil & Gas by 111.6% in the second quarter. BNP Paribas Arbitrage SA now owns 17,158 shares of the company’s stock worth $615,000 after buying an additional 9,051 shares during the last quarter. Palisade Capital Management LLC NJ increased its position in Carrizo Oil & Gas by 1.5% in the second quarter. Palisade Capital Management LLC NJ now owns 287,769 shares of the company’s stock worth $10,317,000 after buying an additional 4,325 shares during the last quarter. Bank of Montreal Can bought a new position in Carrizo Oil & Gas during the second quarter worth about $14,514,000. Frontier Capital Management Co. LLC increased its position in Carrizo Oil & Gas by 5.4% in the second quarter. Frontier Capital Management Co. LLC now owns 3,762,074 shares of the company’s stock worth $134,870,000 after buying an additional 192,152 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Carrizo Oil & Gas during the first quarter worth about $3,069,000.

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