Brokers Set Expectations for Carrizo Oil & Gas, Inc.’s Q3 2017 Earnings (CRZO)

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) – Equities researchers at SunTrust Banks decreased their Q3 2017 earnings per share (EPS) estimates for Carrizo Oil & Gas in a research note issued to investors on Monday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will earn $0.27 per share for the quarter, down from their previous forecast of $0.28. SunTrust Banks has a “Buy” rating and a $20.00 price target on the stock. SunTrust Banks also issued estimates for Carrizo Oil & Gas’ FY2018 earnings at $1.60 EPS.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Carrizo Oil & Gas had a positive return on equity of 1,494.45% and a negative net margin of 0.98%. The business had revenue of $166.50 million for the quarter, compared to analyst estimates of $163.22 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. The company’s revenue was up 55.2% on a year-over-year basis. WARNING: This piece of content was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another domain, it was copied illegally and republished in violation of international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/10/28/brokers-set-expectations-for-carrizo-oil-gas-inc-s-q3-2017-earnings-crzo.html.

Several other equities research analysts also recently issued reports on CRZO. Zacks Investment Research downgraded shares of Carrizo Oil & Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Tudor Pickering downgraded shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Mizuho downgraded shares of Carrizo Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $32.00 to $17.00 in a research note on Thursday, September 7th. J P Morgan Chase & Co downgraded shares of Carrizo Oil & Gas from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $30.00 to $21.00 in a research note on Thursday, July 20th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $25.00 target price (down previously from $64.00) on shares of Carrizo Oil & Gas in a research report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Carrizo Oil & Gas has an average rating of “Hold” and an average target price of $31.65.

Shares of Carrizo Oil & Gas (NASDAQ:CRZO) opened at 15.85 on Tuesday. Carrizo Oil & Gas has a 52-week low of $11.10 and a 52-week high of $43.96. The stock’s 50 day moving average price is $15.06 and its 200-day moving average price is $18.70. The stock’s market cap is $1.29 billion.

Several institutional investors have recently added to or reduced their stakes in CRZO. BlackRock Inc. increased its stake in shares of Carrizo Oil & Gas by 20,572.2% in the first quarter. BlackRock Inc. now owns 8,555,207 shares of the oil and gas producer’s stock valued at $245,193,000 after buying an additional 8,513,822 shares during the period. Lord Abbett & CO. LLC boosted its holdings in Carrizo Oil & Gas by 89.5% in the second quarter. Lord Abbett & CO. LLC now owns 2,659,107 shares of the oil and gas producer’s stock valued at $46,322,000 after acquiring an additional 1,256,160 shares during the last quarter. Marshall Wace North America L.P. boosted its holdings in Carrizo Oil & Gas by 2,349.5% in the second quarter. Marshall Wace North America L.P. now owns 897,901 shares of the oil and gas producer’s stock valued at $15,264,000 after acquiring an additional 861,245 shares during the last quarter. State Street Corp boosted its holdings in Carrizo Oil & Gas by 28.7% in the second quarter. State Street Corp now owns 3,815,021 shares of the oil and gas producer’s stock valued at $66,454,000 after acquiring an additional 850,815 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in Carrizo Oil & Gas by 17.0% in the second quarter. Frontier Capital Management Co. LLC now owns 4,905,089 shares of the oil and gas producer’s stock valued at $85,447,000 after acquiring an additional 714,257 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

In other Carrizo Oil & Gas news, Director Steven A. Webster bought 151,900 shares of the stock in a transaction on Wednesday, August 16th. The stock was purchased at an average price of $13.56 per share, with a total value of $2,059,764.00. Following the completion of the purchase, the director now owns 2,724,410 shares in the company, valued at $36,942,999.60. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven A. Webster bought 29,700 shares of the stock in a transaction on Tuesday, August 15th. The shares were acquired at an average cost of $13.36 per share, with a total value of $396,792.00. Following the purchase, the director now owns 2,724,410 shares of the company’s stock, valued at approximately $36,398,117.60. The disclosure for this purchase can be found here. In the last three months, insiders bought 431,600 shares of company stock valued at $5,602,306. 6.00% of the stock is currently owned by company insiders.

Carrizo Oil & Gas Company Profile

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.

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

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