Carrizo Oil & Gas (CRZO) Trading Down 5.4%

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Carrizo Oil & Gas Inc (NASDAQ:CRZO) shares dropped 5.4% during mid-day trading on Thursday . The stock traded as low as $19.24 and last traded at $19.29. Approximately 2,596,945 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 2,897,809 shares. The stock had previously closed at $20.40.

CRZO has been the subject of several research reports. Zacks Investment Research upgraded shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Saturday, July 14th. Stifel Nicolaus upped their target price on shares of Carrizo Oil & Gas from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. Jefferies Financial Group reiterated a “hold” rating and issued a $27.00 target price on shares of Carrizo Oil & Gas in a research report on Wednesday, July 18th. Williams Capital reiterated a “buy” rating and issued a $41.00 target price on shares of Carrizo Oil & Gas in a research report on Monday, July 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Carrizo Oil & Gas from $26.00 to $29.00 and gave the company a “$28.42” rating in a research report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $29.71.

The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 1.84. The stock has a market cap of $1.68 billion, a PE ratio of 13.31 and a beta of 2.28.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.15. Carrizo Oil & Gas had a net margin of 12.23% and a return on equity of 56.06%. The business had revenue of $303.40 million during the quarter, compared to analyst estimates of $265.34 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s revenue was up 67.3% on a year-over-year basis. Analysts forecast that Carrizo Oil & Gas Inc will post 3.07 EPS for the current fiscal year.

In other news, COO John Bradley Fisher sold 7,500 shares of the company’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $25.01, for a total transaction of $187,575.00. Following the completion of the transaction, the chief operating officer now directly owns 157,436 shares of the company’s stock, valued at $3,937,474.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO S P. Iv Johnson sold 8,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $22.55, for a total transaction of $180,400.00. Following the transaction, the chief executive officer now directly owns 180,276 shares of the company’s stock, valued at $4,065,223.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,500 shares of company stock valued at $737,095. Insiders own 5.40% of the company’s stock.

Several large investors have recently modified their holdings of the company. Broadview Advisors LLC bought a new position in shares of Carrizo Oil & Gas during the third quarter valued at about $5,549,000. DekaBank Deutsche Girozentrale raised its stake in shares of Carrizo Oil & Gas by 114.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 11,335 shares of the oil and gas producer’s stock valued at $278,000 after acquiring an additional 6,039 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Carrizo Oil & Gas by 144.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the oil and gas producer’s stock valued at $230,000 after acquiring an additional 5,397 shares during the last quarter. Elk Creek Partners LLC bought a new position in shares of Carrizo Oil & Gas during the third quarter valued at about $11,900,000. Finally, FMR LLC bought a new position in shares of Carrizo Oil & Gas during the third quarter valued at about $569,000.

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Carrizo Oil & Gas Company Profile (NASDAQ:CRZO)

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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