Carrizo Oil & Gas (CRZO) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Carrizo Oil & Gas (NASDAQ:CRZO) from a buy rating to a hold rating in a report issued on Monday.

According to Zacks, “Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, exploitation and production of oil and natural gas primarily in proven trends in the Barnett Shale area in North Texas and along the Texas and Louisiana onshore Gulf Coast regions. Carrizo controls significant prospective acreage blocks and utilizes advanced three-D seismic techniques to identify potential oil and gas reserves and drilling opportunities. “

Several other equities analysts have also issued reports on the stock. Mizuho lowered shares of Carrizo Oil & Gas from a buy rating to a neutral rating and decreased their price target for the company from $32.00 to $17.00 in a report on Thursday, September 7th. Tudor Pickering lowered shares of Carrizo Oil & Gas from a buy rating to a hold rating in a report on Tuesday, September 5th. Goldman Sachs Group set a $17.00 price target on shares of Carrizo Oil & Gas and gave the company a hold rating in a report on Thursday, October 19th. Jefferies Group reissued a buy rating and issued a $25.00 price target (down previously from $64.00) on shares of Carrizo Oil & Gas in a report on Tuesday, August 29th. Finally, Williams Capital reissued a buy rating and issued a $26.00 price target on shares of Carrizo Oil & Gas in a report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. Carrizo Oil & Gas currently has an average rating of Hold and an average price target of $26.81.

Carrizo Oil & Gas (CRZO) opened at $18.76 on Monday. Carrizo Oil & Gas has a fifty-two week low of $11.10 and a fifty-two week high of $42.75. The stock has a market cap of $1,530.00, a price-to-earnings ratio of 15.73 and a beta of 2.18. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.32 and a quick ratio of 0.32.

Carrizo Oil & Gas (NASDAQ:CRZO) last announced its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.09. Carrizo Oil & Gas had a net margin of 16.08% and a return on equity of 58.37%. The company had revenue of $181.28 million during the quarter, compared to analyst estimates of $177.97 million. During the same quarter in the previous year, the business earned $0.23 EPS. The firm’s revenue was up 63.1% on a year-over-year basis. sell-side analysts expect that Carrizo Oil & Gas will post 1.32 earnings per share for the current fiscal year.

In related news, Director Steven A. Webster acquired 75,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average cost of $11.70 per share, with a total value of $877,500.00. Following the transaction, the director now owns 2,786,310 shares of the company’s stock, valued at approximately $32,599,827. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider S P. Iv Johnson sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $18.69, for a total transaction of $149,520.00. Following the completion of the sale, the insider now directly owns 231,194 shares in the company, valued at $4,321,015.86. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. lifted its position in Carrizo Oil & Gas by 11.4% during the 2nd quarter. BlackRock Inc. now owns 9,534,149 shares of the oil and gas producer’s stock worth $166,088,000 after buying an additional 978,942 shares in the last quarter. NWQ Investment Management Company LLC lifted its position in Carrizo Oil & Gas by 122.6% during the 3rd quarter. NWQ Investment Management Company LLC now owns 7,261,441 shares of the oil and gas producer’s stock worth $124,388,000 after buying an additional 3,999,717 shares in the last quarter. Vanguard Group Inc. lifted its position in Carrizo Oil & Gas by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,427,895 shares of the oil and gas producer’s stock worth $111,975,000 after buying an additional 405,188 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in Carrizo Oil & Gas by 27.6% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 6,256,691 shares of the oil and gas producer’s stock worth $107,177,000 after buying an additional 1,351,602 shares in the last quarter. Finally, State Street Corp lifted its position in Carrizo Oil & Gas by 28.7% during the 2nd quarter. State Street Corp now owns 3,815,021 shares of the oil and gas producer’s stock worth $66,454,000 after buying an additional 850,815 shares in the last quarter.

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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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