Carrizo Oil & Gas (CRZO) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Carrizo Oil & Gas (NASDAQ:CRZO) from a buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, exploitation and production of oil and natural gas primarily in proven trends in the Barnett Shale area in North Texas and along the Texas and Louisiana onshore Gulf Coast regions. Carrizo controls significant prospective acreage blocks and utilizes advanced three-D seismic techniques to identify potential oil and gas reserves and drilling opportunities. “

Several other analysts have also commented on the stock. Williams Capital reissued a buy rating and set a $19.00 target price on shares of Carrizo Oil & Gas in a research note on Wednesday, January 23rd. Raymond James set a $21.00 target price on shares of Carrizo Oil & Gas and gave the company a buy rating in a research note on Wednesday, January 23rd. KeyCorp started coverage on shares of Carrizo Oil & Gas in a research note on Thursday, January 31st. They set an overweight rating and a $14.50 target price for the company. BidaskClub raised shares of Carrizo Oil & Gas from a strong sell rating to a sell rating in a research note on Friday, February 15th. Finally, Northland Securities reissued a buy rating and set a $25.00 target price on shares of Carrizo Oil & Gas in a research note on Tuesday, February 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $23.53.



Carrizo Oil & Gas stock opened at $12.24 on Tuesday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $1.13 billion, a PE ratio of 4.40, a P/E/G ratio of 0.15 and a beta of 2.27. Carrizo Oil & Gas has a 12-month low of $9.67 and a 12-month high of $31.57.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. The business had revenue of $233.04 million during the quarter, compared to analysts’ expectations of $228.41 million. Carrizo Oil & Gas had a net margin of 49.20% and a return on equity of 32.14%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. As a group, sell-side analysts anticipate that Carrizo Oil & Gas will post 2.94 EPS for the current fiscal year.

In related news, CFO David L. Pitts sold 22,109 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $12.11, for a total value of $267,739.99. Following the completion of the sale, the chief financial officer now owns 130,018 shares in the company, valued at approximately $1,574,517.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO S P. Iv Johnson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $12.55, for a total transaction of $100,400.00. Following the completion of the sale, the chief executive officer now owns 131,076 shares of the company’s stock, valued at approximately $1,645,003.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,523 shares of company stock valued at $1,584,394. 4.80% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Mairs & Power INC lifted its position in Carrizo Oil & Gas by 47.8% in the 1st quarter. Mairs & Power INC now owns 564,560 shares of the oil and gas producer’s stock worth $7,040,000 after buying an additional 182,500 shares in the last quarter. Voya Investment Management LLC lifted its position in Carrizo Oil & Gas by 3.6% in the 1st quarter. Voya Investment Management LLC now owns 2,195,520 shares of the oil and gas producer’s stock worth $27,378,000 after buying an additional 75,372 shares in the last quarter. Marshall Wace LLP purchased a new stake in Carrizo Oil & Gas in the 1st quarter worth approximately $519,000. Geode Capital Management LLC lifted its position in Carrizo Oil & Gas by 6.9% in the 1st quarter. Geode Capital Management LLC now owns 1,019,047 shares of the oil and gas producer’s stock worth $12,706,000 after buying an additional 65,868 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Carrizo Oil & Gas by 31.3% in the 1st quarter. Renaissance Technologies LLC now owns 625,500 shares of the oil and gas producer’s stock worth $7,800,000 after buying an additional 149,100 shares in the last quarter.

About Carrizo Oil & Gas

Carrizo Oil & Gas, Inc, an energy company, explores for, develops, and produces 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 the Eagle Ford Shale in South Texas; and the Permian Basin in West Texas.

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