Carrizo Oil & Gas (CRZO) Shares Gap Down to $15.81

Shares of Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) gapped down prior to trading on Wednesday . The stock had previously closed at $16.21, but opened at $15.81. Carrizo Oil & Gas shares last traded at $15.43, with a volume of 3117260 shares changing hands.

Several analysts recently issued reports on the company. Citigroup assumed coverage on Carrizo Oil & Gas in a report on Friday, December 22nd. They issued a “neutral” rating and a $26.00 price target for the company. KeyCorp set a $26.00 price target on Carrizo Oil & Gas and gave the company a “buy” rating in a report on Sunday, January 21st. Johnson Rice downgraded Carrizo Oil & Gas from a “buy” rating to an “accumulate” rating in a report on Tuesday, February 27th. Raymond James Financial set a $28.00 price target on Carrizo Oil & Gas and gave the company a “buy” rating in a report on Tuesday, December 12th. Finally, JPMorgan Chase increased their price target on Carrizo Oil & Gas from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.89.

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The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $1,257.08, a price-to-earnings ratio of 11.10 and a beta of 2.10.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings data on Monday, February 26th. The oil and gas producer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.12. The company had revenue of $246.77 million during the quarter, compared to analysts’ expectations of $238.06 million. Carrizo Oil & Gas had a net margin of 11.68% and a return on equity of 48.04%. The firm’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. analysts anticipate that Carrizo Oil & Gas, Inc. will post 2.59 EPS for the current year.

In other news, insider S P. Iv Johnson sold 8,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $18.19, for a total transaction of $145,520.00. Following the transaction, the insider now owns 208,294 shares of the company’s stock, valued at $3,788,867.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory F. Conaway sold 4,453 shares of the stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $14.84, for a total transaction of $66,082.52. Following the transaction, the vice president now directly owns 13,228 shares in the company, valued at approximately $196,303.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,304 shares of company stock valued at $1,758,276. 6.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Sterling Investment Advisors Ltd. bought a new position in shares of Carrizo Oil & Gas during the fourth quarter worth about $128,000. CIBC Asset Management Inc acquired a new stake in Carrizo Oil & Gas during the fourth quarter worth about $212,000. Quantitative Systematic Strategies LLC acquired a new stake in Carrizo Oil & Gas during the fourth quarter worth about $235,000. Sciencast Management LP acquired a new stake in Carrizo Oil & Gas during the fourth quarter worth about $309,000. Finally, Cypress Capital Management LLC WY acquired a new stake in Carrizo Oil & Gas during the fourth quarter worth about $296,000.

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About Carrizo Oil & Gas

Carrizo Oil & Gas, Inc, together with its subsidiaries, engages in the exploration, development, and production of crude oil, natural gas liquids, and gas from resource plays primarily in the United States. The company holds interests in oil and gas plays, including Eagle Ford Shale in South Texas; and the Delaware Basin in West Texas.

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