Carrizo Oil & Gas (CRZO) Earns “Buy” Rating from Royal Bank of Canada

Carrizo Oil & Gas (NASDAQ:CRZO)‘s stock had its “buy” rating reaffirmed by investment analysts at Royal Bank of Canada in a note issued to investors on Wednesday, December 20th. They currently have a $24.00 price target on the oil and gas producer’s stock. Royal Bank of Canada’s price target would suggest a potential downside of 1.36% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Jefferies Group set a $21.00 target price on Carrizo Oil & Gas and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research raised Carrizo Oil & Gas from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Tuesday, December 19th. Seaport Global Securities raised Carrizo Oil & Gas from a “sell” rating to a “buy” rating in a research report on Tuesday, December 19th. KeyCorp reaffirmed a “buy” rating on shares of Carrizo Oil & Gas in a research report on Friday, December 15th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating on shares of Carrizo Oil & Gas in a research report on Thursday, December 14th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $29.50.

Carrizo Oil & Gas (CRZO) traded down $0.24 on Wednesday, reaching $24.33. The company’s stock had a trading volume of 3,081,400 shares, compared to its average volume of 2,760,000. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $1,980.00, a P/E ratio of 15.70 and a beta of 2.18. Carrizo Oil & Gas has a twelve month low of $11.10 and a twelve month high of $37.47.

Carrizo Oil & Gas (NASDAQ:CRZO) last posted its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09. Carrizo Oil & Gas had a return on equity of 58.37% and a net margin of 16.08%. The business had revenue of $181.28 million during the quarter, compared to the consensus estimate of $177.97 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. The firm’s quarterly revenue was up 63.1% compared to the same quarter last year. sell-side analysts predict that Carrizo Oil & Gas will post 1.41 EPS for the current fiscal year.

In other Carrizo Oil & Gas news, insider S P. Iv Johnson sold 8,000 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $18.69, for a total value of $149,520.00. Following the transaction, the insider now owns 231,194 shares of the company’s stock, valued at $4,321,015.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of Carrizo Oil & Gas by 6.4% in the second quarter. SG Americas Securities LLC now owns 79,499 shares of the oil and gas producer’s stock worth $1,385,000 after buying an additional 4,785 shares during the period. American Century Companies Inc. bought a new position in shares of Carrizo Oil & Gas in the second quarter worth about $4,147,000. Pacad Investment Ltd. bought a new position in shares of Carrizo Oil & Gas in the second quarter worth about $1,246,000. Penn Capital Management Co. Inc. bought a new stake in Carrizo Oil & Gas during the 2nd quarter valued at approximately $392,000. Finally, California Public Employees Retirement System raised its stake in Carrizo Oil & Gas by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 181,100 shares of the oil and gas producer’s stock valued at $3,155,000 after purchasing an additional 3,900 shares during the period. 99.96% of the stock is currently owned by hedge funds and other institutional investors.

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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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