Carrizo Oil & Gas (CRZO) Trading Down 5.3%

Shares of Carrizo Oil & Gas Inc (NASDAQ:CRZO) dropped 5.3% during mid-day trading on Monday . The stock traded as low as $16.84 and last traded at $17.25. Approximately 1,895,283 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 2,890,088 shares. The stock had previously closed at $18.22.

CRZO has been the topic of several recent research reports. Zacks Investment Research downgraded Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Williams Capital reissued a “buy” rating and issued a $41.00 price target on shares of Carrizo Oil & Gas in a report on Monday, July 23rd. BidaskClub downgraded Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Stifel Nicolaus raised their price target on Carrizo Oil & Gas from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Finally, SunTrust Banks reissued a “buy” rating and issued a $35.00 price target on shares of Carrizo Oil & Gas in a report on Monday, August 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.94.

The company has a debt-to-equity ratio of 3.52, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 12.06 and a beta of 2.18.



Carrizo Oil & Gas (NASDAQ:CRZO) last announced its earnings results on Monday, August 6th. The oil and gas producer reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. The firm had revenue of $264.00 million for the quarter, compared to the consensus estimate of $230.08 million. Carrizo Oil & Gas had a return on equity of 52.59% and a net margin of 5.84%. The firm’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. As a group, sell-side analysts predict that Carrizo Oil & Gas Inc will post 2.98 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 on Wednesday, August 15th. The stock was sold at an average price of $22.55, for a total value of $180,400.00. Following the sale, the chief executive officer now owns 180,276 shares of the company’s stock, valued at approximately $4,065,223.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Bradley Fisher sold 7,500 shares of the business’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $25.01, for a total value of $187,575.00. Following the completion of the sale, the chief operating officer now directly owns 157,436 shares in the company, valued at approximately $3,937,474.36. The disclosure for this sale can be found here. Insiders have sold a total of 31,500 shares of company stock worth $737,095 in the last ninety days. 5.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CRZO. Russell Investments Group Ltd. raised its stake in shares of Carrizo Oil & Gas by 3.6% in the 1st quarter. Russell Investments Group Ltd. now owns 220,675 shares of the oil and gas producer’s stock worth $3,530,000 after buying an additional 7,724 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Carrizo Oil & Gas by 36.5% in the 1st quarter. Guggenheim Capital LLC now owns 102,351 shares of the oil and gas producer’s stock worth $1,637,000 after buying an additional 27,384 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Carrizo Oil & Gas by 6.2% in the 1st quarter. Royal Bank of Canada now owns 986,028 shares of the oil and gas producer’s stock worth $15,777,000 after buying an additional 57,838 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Carrizo Oil & Gas by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,162,884 shares of the oil and gas producer’s stock worth $18,606,000 after buying an additional 24,348 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new stake in shares of Carrizo Oil & Gas in the 2nd quarter worth $3,980,000.

About Carrizo Oil & Gas (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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