Carrizo Oil & Gas Inc (NASDAQ:CRZO) Expected to Post Earnings of $0.70 Per Share

Wall Street analysts predict that Carrizo Oil & Gas Inc (NASDAQ:CRZO) will report earnings per share of $0.70 for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Carrizo Oil & Gas’ earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $1.16. Carrizo Oil & Gas posted earnings per share of $0.94 in the same quarter last year, which would suggest a negative year-over-year growth rate of 25.5%. The firm is scheduled to report its next earnings report on Monday, November 4th.

According to Zacks, analysts expect that Carrizo Oil & Gas will report full year earnings of $2.52 per share for the current financial year, with EPS estimates ranging from $2.12 to $3.82. For the next financial year, analysts expect that the company will post earnings of $2.46 per share, with EPS estimates ranging from $1.60 to $3.41. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Carrizo Oil & Gas.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.04. Carrizo Oil & Gas had a net margin of 55.87% and a return on equity of 25.15%. The business had revenue of $264.97 million for the quarter, compared to analyst estimates of $263.76 million.



CRZO has been the subject of several analyst reports. Zacks Investment Research downgraded Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Johnson Rice downgraded Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Northland Securities restated a “hold” rating and issued a $9.00 target price on shares of Carrizo Oil & Gas in a research note on Sunday, September 1st. Piper Jaffray Companies set a $15.00 target price on Carrizo Oil & Gas and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Raymond James downgraded Carrizo Oil & Gas from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. Carrizo Oil & Gas presently has an average rating of “Hold” and a consensus price target of $15.75.

Shares of CRZO traded up $0.11 during trading hours on Friday, hitting $7.92. The stock had a trading volume of 1,020,192 shares, compared to its average volume of 5,271,161. The company’s fifty day moving average is $8.33 and its two-hundred day moving average is $10.24. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.31 and a quick ratio of 0.31. Carrizo Oil & Gas has a 52 week low of $7.17 and a 52 week high of $23.01. The stock has a market capitalization of $696.00 million, a price-to-earnings ratio of 2.85, a P/E/G ratio of 0.11 and a beta of 2.13.

In other Carrizo Oil & Gas news, insider S P. Iv Johnson sold 8,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $8.26, for a total value of $66,080.00. Following the sale, the insider now owns 179,221 shares of the company’s stock, valued at approximately $1,480,365.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 24,000 shares of company stock worth $231,520. Insiders own 4.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new position in shares of Carrizo Oil & Gas during the 2nd quarter valued at about $54,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Carrizo Oil & Gas by 22.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,421 shares of the oil and gas producer’s stock valued at $75,000 after purchasing an additional 1,363 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Carrizo Oil & Gas during the second quarter valued at approximately $109,000. DekaBank Deutsche Girozentrale raised its stake in Carrizo Oil & Gas by 94.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 11,335 shares of the oil and gas producer’s stock valued at $278,000 after buying an additional 5,520 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in Carrizo Oil & Gas by 44.4% during the first quarter. Advisory Services Network LLC now owns 11,523 shares of the oil and gas producer’s stock valued at $144,000 after buying an additional 3,544 shares during 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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Earnings History and Estimates for Carrizo Oil & Gas (NASDAQ:CRZO)

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