Goldman Sachs Group, Inc. (The) Reaffirms “Neutral” Rating for Carrizo Oil & Gas, Inc. (CRZO)

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO)‘s stock had its “neutral” rating reiterated by analysts at Goldman Sachs Group, Inc. (The) in a research note issued to investors on Wednesday, October 18th, MarketBeat Ratings reports. They currently have a $14.50 price target on the oil and gas producer’s stock. Goldman Sachs Group, Inc. (The)’s price objective points to a potential downside of 9.38% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets set a $20.00 price target on shares of Carrizo Oil & Gas and gave the company a “buy” rating in a research report on Tuesday, October 10th. Zacks Investment Research raised shares of Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, October 9th. Jefferies Group LLC lowered shares of Carrizo Oil & Gas from a “buy” rating to a “hold” rating and reduced their target price for the stock from $25.00 to $16.00 in a report on Monday, October 9th. J P Morgan Chase & Co lowered shares of Carrizo Oil & Gas from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $30.00 to $21.00 in a report on Thursday, July 20th. Finally, Mizuho downgraded 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Carrizo Oil & Gas presently has an average rating of “Hold” and an average target price of $30.68.

Carrizo Oil & Gas (NASDAQ:CRZO) traded up 4.58% on Wednesday, hitting $16.00. 3,542,261 shares of the stock traded hands. Carrizo Oil & Gas has a 52 week low of $11.10 and a 52 week high of $43.96. The stock has a 50 day moving average of $15.46 and a 200 day moving average of $18.11. The firm’s market capitalization is $1.30 billion.

Carrizo Oil & Gas (NASDAQ:CRZO) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.05. The company had revenue of $166.50 million for the quarter, compared to analysts’ expectations of $163.22 million. Carrizo Oil & Gas had a negative net margin of 0.98% and a positive return on equity of 1,494.45%. Carrizo Oil & Gas’s revenue was up 55.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. Equities research analysts anticipate that Carrizo Oil & Gas will post $1.09 earnings per share for the current year.

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In related news, Director Steven A. Webster bought 75,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were bought at an average price of $13.89 per share, for a total transaction of $1,041,750.00. Following the completion of the purchase, the director now directly owns 2,724,410 shares of the company’s stock, valued at $37,842,054.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven A. Webster bought 29,700 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average price of $13.36 per share, for a total transaction of $396,792.00. Following the purchase, the director now directly owns 2,724,410 shares of the company’s stock, valued at $36,398,117.60. The disclosure for this purchase can be found here. Insiders acquired 431,600 shares of company stock worth $5,602,306 in the last quarter. 6.00% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CRZO. UBS Asset Management Americas Inc. lifted its holdings in shares of Carrizo Oil & Gas by 15.7% during the first quarter. UBS Asset Management Americas Inc. now owns 56,826 shares of the oil and gas producer’s stock worth $1,629,000 after purchasing an additional 7,693 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Carrizo Oil & Gas during the first quarter worth about $326,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Carrizo Oil & Gas during the first quarter worth about $150,000. JPMorgan Chase & Co. lifted its holdings in shares of Carrizo Oil & Gas by 8.7% during the first quarter. JPMorgan Chase & Co. now owns 105,322 shares of the oil and gas producer’s stock worth $3,019,000 after purchasing an additional 8,392 shares during the period. Finally, Arizona State Retirement System raised its position in Carrizo Oil & Gas by 1.0% during the first quarter. Arizona State Retirement System now owns 31,849 shares of the oil and gas producer’s stock valued at $913,000 after acquiring an additional 300 shares in the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

About Carrizo Oil & Gas

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.

Analyst Recommendations for Carrizo Oil & Gas (NASDAQ:CRZO)

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