The Carrizo Oil & Gas Inc (CRZO) Given Average Recommendation of “Buy” by Analysts

The Carrizo Oil & Gas Inc (CRZO) Given Average Recommendation of “Buy” by Analysts

Shares of Carrizo Oil & Gas Inc (NASDAQ:CRZO) have been given an average recommendation of “Buy” by the nineteen research firms that are presently covering the company. Seven investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $44.57.

Several research firms have recently commented on CRZO. Canaccord Genuity set a $44.00 price objective on Carrizo Oil & Gas and gave the stock a “buy” rating in a research note on Saturday, February 11th. Zacks Investment Research upgraded Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, February 17th. Wells Fargo & Co lowered Carrizo Oil & Gas from an “outperform” rating to a “market perform” rating in a research note on Friday, December 16th. FBR & Co restated an “outperform” rating and issued a $42.00 price objective (down from $47.00) on shares of Carrizo Oil & Gas in a research note on Friday, February 24th. Finally, Seaport Global Securities lowered Carrizo Oil & Gas from an “accumulate” rating to a “neutral” rating in a research note on Friday, December 9th.

Carrizo Oil & Gas (NASDAQ:CRZO) traded up 0.55% during midday trading on Monday, reaching $31.35. The company had a trading volume of 444,255 shares. The company’s market capitalization is $2.04 billion. The firm has a 50-day moving average price of $34.36 and a 200-day moving average price of $37.08. Carrizo Oil & Gas has a 52 week low of $24.18 and a 52 week high of $43.96.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.31 by $0.13. The firm earned $143.80 million during the quarter, compared to analyst estimates of $152.69 million. Carrizo Oil & Gas had a positive return on equity of 85.42% and a negative net margin of 264.25%. Carrizo Oil & Gas’s revenue was up 44.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. Analysts expect that Carrizo Oil & Gas will post $1.43 EPS for the current fiscal year.

In other news, Director Steven A. Webster bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was bought at an average price of $31.25 per share, with a total value of $781,250.00. Following the acquisition, the director now owns 2,577,180 shares of the company’s stock, valued at approximately $80,536,875. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider S P. Iv Johnson sold 6,000 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $34.35, for a total transaction of $206,100.00. Following the completion of the transaction, the insider now directly owns 162,288 shares of the company’s stock, valued at approximately $5,574,592.80. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Investment Management LLC increased its position in Carrizo Oil & Gas by 0.4% in the third quarter. BlackRock Investment Management LLC now owns 495,933 shares of the company’s stock valued at $20,145,000 after buying an additional 1,785 shares during the period. Oxford Asset Management bought a new position in Carrizo Oil & Gas during the fourth quarter valued at approximately $3,143,000. William Blair Investment Management LLC increased its position in Carrizo Oil & Gas by 1.6% in the fourth quarter. William Blair Investment Management LLC now owns 1,310,525 shares of the company’s stock valued at $48,948,000 after buying an additional 20,912 shares during the period. BlackRock Fund Advisors increased its position in Carrizo Oil & Gas by 8.1% in the third quarter. BlackRock Fund Advisors now owns 3,959,774 shares of the company’s stock valued at $160,846,000 after buying an additional 295,678 shares during the period. Finally, Falcon Point Capital LLC increased its position in Carrizo Oil & Gas by 24.1% in the third quarter. Falcon Point Capital LLC now owns 164,165 shares of the company’s stock valued at $5,554,000 after buying an additional 31,893 shares during the period.

About Carrizo Oil & Gas

Carrizo Oil & Gas, Inc is an energy company. The Company is engaged in the exploration, development and production of oil and gas from resource plays located in the United States. Its operations are focused in proven, producing oil and gas plays in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania.

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