Carrizo Oil & Gas, Inc. (CRZO) Downgraded to Hold at Jefferies Group LLC

Jefferies Group LLC cut shares of Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) from a buy rating to a hold rating in a report issued on Monday, MarketBeat reports. Jefferies Group LLC currently has $16.00 price objective on the oil and gas producer’s stock, down from their prior price objective of $25.00. Jefferies Group also issued estimates for Carrizo Oil & Gas’ Q3 2017 earnings at $0.24 EPS, Q4 2017 earnings at $0.42 EPS, FY2017 earnings at $1.16 EPS, Q1 2018 earnings at $0.35 EPS, Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.45 EPS, FY2018 earnings at $1.59 EPS, Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.50 EPS and FY2019 earnings at $1.96 EPS.

A number of other equities analysts also recently weighed in on CRZO. Zacks Investment Research downgraded Carrizo Oil & Gas from a hold rating to a sell rating in a research report on Tuesday, July 18th. Tudor Pickering downgraded Carrizo Oil & Gas from a buy rating to a hold rating in a research report on Tuesday, September 5th. Mizuho downgraded Carrizo Oil & Gas from a buy rating to a neutral rating and reduced their price target for the stock from $32.00 to $17.00 in a research report on Thursday, September 7th. J P Morgan Chase & Co downgraded Carrizo Oil & Gas from an overweight rating to a neutral rating and reduced their price target for the stock from $30.00 to $21.00 in a research report on Thursday, July 20th. Finally, Seaport Global Securities downgraded Carrizo Oil & Gas from a buy rating to a sell rating in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $33.74.

Shares of Carrizo Oil & Gas (NASDAQ CRZO) opened at 16.56 on Monday. The company’s 50 day moving average is $14.68 and its 200 day moving average is $19.11. Carrizo Oil & Gas has a 12-month low of $11.10 and a 12-month high of $43.96. The firm’s market capitalization is $1.35 billion.

Carrizo Oil & Gas (NASDAQ:CRZO) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Carrizo Oil & Gas had a positive return on equity of 1,494.45% and a negative net margin of 0.98%. The business had revenue of $166.50 million during the quarter, compared to analyst estimates of $163.22 million. During the same period in the previous year, the firm earned $0.29 EPS. Carrizo Oil & Gas’s quarterly revenue was up 55.2% compared to the same quarter last year. On average, analysts forecast that Carrizo Oil & Gas will post $1.06 earnings per share for the current year.

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In related news, Director Steven A. Webster acquired 75,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $13.89 per share, for a total transaction of $1,041,750.00. Following the purchase, the director now directly owns 2,724,410 shares in the company, valued at approximately $37,842,054.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Webster acquired 25,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were bought at an average price of $12.67 per share, for a total transaction of $316,750.00. Following the purchase, the director now owns 2,826,310 shares in the company, valued at $35,809,347.70. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 431,600 shares of company stock worth $5,602,306. Company insiders own 6.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CRZO. BlackRock Inc. raised its stake in Carrizo Oil & Gas by 20,572.2% in the 1st quarter. BlackRock Inc. now owns 8,555,207 shares of the oil and gas producer’s stock valued at $245,193,000 after acquiring an additional 8,513,822 shares during the period. Lord Abbett & CO. LLC raised its stake in Carrizo Oil & Gas by 89.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,659,107 shares of the oil and gas producer’s stock valued at $46,322,000 after acquiring an additional 1,256,160 shares during the period. Marshall Wace North America L.P. raised its stake in Carrizo Oil & Gas by 2,349.5% in the 2nd quarter. Marshall Wace North America L.P. now owns 897,901 shares of the oil and gas producer’s stock valued at $15,264,000 after acquiring an additional 861,245 shares during the period. State Street Corp raised its stake in Carrizo Oil & Gas by 28.7% in the 2nd quarter. State Street Corp now owns 3,815,021 shares of the oil and gas producer’s stock valued at $66,454,000 after acquiring an additional 850,815 shares during the period. Finally, Frontier Capital Management Co. LLC raised its stake in Carrizo Oil & Gas by 17.0% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 4,905,089 shares of the oil and gas producer’s stock valued at $85,447,000 after acquiring an additional 714,257 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.

Analyst Recommendations for Carrizo Oil & Gas (NASDAQ:CRZO)

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