Carrizo Oil & Gas Inc Forecasted to Earn Q1 2019 Earnings of $0.84 Per Share (CRZO)

Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Research analysts at Seaport Global Securities increased their Q1 2019 EPS estimates for Carrizo Oil & Gas in a note issued to investors on Tuesday, November 6th. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas producer will earn $0.84 per share for the quarter, up from their prior forecast of $0.76. Seaport Global Securities also issued estimates for Carrizo Oil & Gas’ Q2 2019 earnings at $1.00 EPS, Q3 2019 earnings at $1.14 EPS, Q4 2019 earnings at $1.13 EPS and FY2019 earnings at $4.10 EPS.

Carrizo Oil & Gas (NASDAQ:CRZO) last announced its earnings results on Monday, November 5th. The oil and gas producer reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.15. The company had revenue of $303.40 million during the quarter, compared to analyst estimates of $265.34 million. Carrizo Oil & Gas had a net margin of 12.23% and a return on equity of 56.06%. Carrizo Oil & Gas’s revenue was up 67.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share.

Several other research analysts have also weighed in on CRZO. BidaskClub raised shares of Carrizo Oil & Gas from a “sell” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus increased 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 note on Monday, July 16th. ValuEngine lowered shares of Carrizo Oil & Gas from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Zacks Investment Research raised shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Thursday, October 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Carrizo Oil & Gas from $26.00 to $29.00 and gave the stock a “$28.42” rating in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Carrizo Oil & Gas presently has an average rating of “Buy” and an average target price of $29.71.

Shares of CRZO stock opened at $19.03 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 1.84. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 13.31 and a beta of 2.28. Carrizo Oil & Gas has a 1-year low of $13.49 and a 1-year high of $31.57.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Carrizo Oil & Gas by 14.4% in the third quarter. BlackRock Inc. now owns 12,449,324 shares of the oil and gas producer’s stock valued at $313,723,000 after acquiring an additional 1,569,126 shares in the last quarter. LSV Asset Management raised its holdings in Carrizo Oil & Gas by 1.1% in the third quarter. LSV Asset Management now owns 4,127,585 shares of the oil and gas producer’s stock valued at $104,015,000 after acquiring an additional 45,135 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Carrizo Oil & Gas by 6.6% in the second quarter. Glenmede Trust Co. NA now owns 2,262,146 shares of the oil and gas producer’s stock valued at $63,001,000 after acquiring an additional 139,972 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Carrizo Oil & Gas by 11.1% in the second quarter. Macquarie Group Ltd. now owns 2,248,128 shares of the oil and gas producer’s stock valued at $62,610,000 after acquiring an additional 224,316 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Carrizo Oil & Gas by 26,788.1% in the second quarter. Advisors Asset Management Inc. now owns 1,821,670 shares of the oil and gas producer’s stock valued at $183,000 after acquiring an additional 1,814,895 shares in the last quarter.

In other news, insider S P. Iv Johnson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $23.82, for a total value of $190,560.00. Following the completion of the transaction, the insider now owns 171,076 shares of the company’s stock, valued at $4,075,030.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO John Bradley Fisher sold 7,500 shares of the firm’s stock in a transaction that occurred on 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 approximately $3,937,474.36. The disclosure for this sale can be found here. In the last three months, insiders sold 31,500 shares of company stock valued at $737,095. Insiders own 5.40% of the company’s stock.

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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Earnings History and Estimates for Carrizo Oil & Gas (NASDAQ:CRZO)

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