Carrizo Oil & Gas (NASDAQ:CRZO) issued its quarterly earnings results on Monday. The oil and gas producer reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.15, Briefing.com reports. The business had revenue of $303.40 million for the quarter, compared to analyst estimates of $265.34 million. Carrizo Oil & Gas had a return on equity of 52.59% and a net margin of 5.84%. Carrizo Oil & Gas’s quarterly revenue was up 67.3% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share.
NASDAQ:CRZO opened at $18.32 on Tuesday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 0.26 and a current ratio of 0.26. Carrizo Oil & Gas has a 52-week low of $13.49 and a 52-week high of $31.57. The firm has a market cap of $1.45 billion, a P/E ratio of 12.81 and a beta of 2.28.
A number of analysts recently commented on CRZO shares. Williams Capital reiterated a “buy” rating and set a $41.00 price target on shares of Carrizo Oil & Gas in a report on Monday, July 23rd. Johnson Rice upgraded Carrizo Oil & Gas from an “accumulate” rating to a “buy” rating in a research note on Wednesday, August 8th. ValuEngine lowered Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Thursday, October 25th. Finally, SunTrust Banks restated a “buy” rating and issued a $35.00 target price on shares of Carrizo Oil & Gas in a research note on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Carrizo Oil & Gas currently has a consensus rating of “Buy” and a consensus price target of $29.78.
In related news, insider S P. Iv Johnson sold 8,000 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $23.82, for a total transaction of $190,560.00. Following the completion of the transaction, the insider now directly owns 171,076 shares in the company, valued at $4,075,030.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO John Bradley Fisher sold 7,500 shares of the business’s stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $25.01, for a total value of $187,575.00. Following the transaction, the chief operating officer now owns 157,436 shares of the company’s stock, valued at $3,937,474.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,500 shares of company stock worth $737,095. 5.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CRZO. PNC Financial Services Group Inc. grew its position in Carrizo Oil & Gas by 91.0% during the second quarter. PNC Financial Services Group Inc. now owns 5,625 shares of the oil and gas producer’s stock worth $156,000 after buying an additional 2,680 shares in the last quarter. Advisors Asset Management Inc. grew its position in Carrizo Oil & Gas by 26,788.1% during the second quarter. Advisors Asset Management Inc. now owns 1,821,670 shares of the oil and gas producer’s stock worth $183,000 after buying an additional 1,814,895 shares in the last quarter. Creative Planning purchased a new position in Carrizo Oil & Gas during the second quarter worth about $222,000. Berkshire Asset Management LLC PA purchased a new position in Carrizo Oil & Gas during the second quarter worth about $252,000. Finally, CIBC Asset Management Inc purchased a new position in Carrizo Oil & Gas during the second quarter worth about $278,000.
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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