Equities researchers at Citigroup initiated coverage on shares of Carrizo Oil & Gas (NASDAQ:CRZO) in a report released on Friday, December 22nd, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $26.00 price target on the oil and gas producer’s stock. Citigroup’s price objective points to a potential upside of 6.86% from the company’s previous close.
Other analysts have also issued research reports about the stock. SunTrust Banks set a $20.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research report on Monday, October 16th. BMO Capital Markets set a $20.00 price objective on shares of Carrizo Oil & Gas and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Williams Capital reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Carrizo Oil & Gas in a research report on Monday, October 9th. Zacks Investment Research raised shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Monday, October 9th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $23.00 target price on shares of Carrizo Oil & Gas in a research note on Friday, September 15th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $29.50.
Carrizo Oil & Gas (NASDAQ:CRZO) traded down $0.24 on Friday, hitting $24.33. 3,084,998 shares of the company were exchanged, compared to its average volume of 2,760,000. 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 has a one year low of $11.10 and a one year high of $37.47. The company has a market capitalization of $1,980.00, a price-to-earnings ratio of 15.70 and a beta of 2.18.
Carrizo Oil & Gas (NASDAQ:CRZO) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas producer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $177.97 million. During the same period last year, the firm earned $0.23 earnings per share. The firm’s revenue was up 63.1% on a year-over-year basis. analysts predict that Carrizo Oil & Gas will post 1.41 earnings per share for the current year.
In other news, CEO S P. Iv Johnson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $18.57, for a total value of $148,560.00. Following the completion of the sale, the chief executive officer now directly owns 223,194 shares in the company, valued at approximately $4,144,712.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Kings Point Capital Management raised its holdings in Carrizo Oil & Gas by 220.0% during the 2nd quarter. Kings Point Capital Management now owns 8,000 shares of the oil and gas producer’s stock valued at $139,000 after buying an additional 5,500 shares during the last quarter. Advisor Group Inc. raised its holdings in Carrizo Oil & Gas by 47.4% during the 2nd quarter. Advisor Group Inc. now owns 8,121 shares of the oil and gas producer’s stock valued at $141,000 after buying an additional 2,611 shares during the last quarter. Van ECK Associates Corp raised its holdings in Carrizo Oil & Gas by 15.0% during the 2nd quarter. Van ECK Associates Corp now owns 9,028 shares of the oil and gas producer’s stock valued at $157,000 after buying an additional 1,177 shares during the last quarter. Amalgamated Bank bought a new stake in Carrizo Oil & Gas during the 3rd quarter valued at $182,000. Finally, First Interstate Bank raised its holdings in Carrizo Oil & Gas by 40.6% during the 2nd quarter. First Interstate Bank now owns 11,740 shares of the oil and gas producer’s stock valued at $205,000 after buying an additional 3,390 shares during the last quarter. Institutional investors own 99.96% of the company’s stock.
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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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